In my opinion there is one reason Lisle, IL homes for sale are having a rough summer: the # of homes for sale. There are some great properties out there in some of my favorite neighborhoods like Green Trails and Oak Hill Estates. Here is a closer look at the July 2010 statistics compared to [...]
Naperville Home Prices Up in July 2010 over July 2009
I think this is good news all around. Why? I’m glad you asked. The original deadline to close for the tax credit was June 30th, 2010. So I expected prices to be a little better in June ’10 than June ’09. July was a question mark for me. I was curious to see how it [...]
Read the full article →Tax Credit Closing Deadlines Extended
This is just a quick update for those who purchased before April 30th, 2010 but have been worried that they won’t close until after June 30th, 2010. The have officially extended the closing deadline through September 30th, 2010!! Now, you still have to have been under contract before April 30th….that has not changed. So breath [...]
Read the full article →What Is Months Supply of Inventory?
When I put out my market statistics for communities around Chicago I pull a large number of stats to share with you. One of my favorites is Months Supply of Inventory or MSI. This is a simple way to help us talk about whether or not we are in a “buyers” or “sellers” market. A [...]
Read the full article →Tax Form for First Time Home Buyer Credit – Form 5405
First time home buyer tax credit has been extended & expanded. So, thanks to previous posts, we’re all familiar with the first time home buyers credit that is available. Well, I now hve the form you can use in order to claim it with your taxes. Or the form that you can give to your [...]
Read the full article →Call 8-1-1 Before You Dig on Your Next Outdoor Project
Putting in a new deck? New fence? Mailbox? Shrub, bush or other landscaping? What are your responsibilities when it comes to any outdoor project you may be interested in? Many people think that the company you hire is going to take care of everything. Well, when it comes to underground utility wires you may want [...]
Read the full article →When Should I Put My Home on the Market?
This is a question I’ve been getting a lot lately. It’s a question I typically get in a normal winter market but one that I seem to be getting a lot more in THIS winter market. There are two schools of thought. School A is the homeowner who wants to keep/put their home on the [...]
Read the full article →Morton Arboretum, Lisle IL, Winter Scene
Beautiful photo of the Morton Arboretum in Lisle, IL. My hometown. The Arboretum Village as they call it. Whoever they are. Love the way this photo captures how winter, while cold and getting long, can make you stop and stare. The Morton Arboretum is just off of I-88 in this Western Suburb of Chicago. In [...]
Read the full article →A Quick Guide to Agency Terms
Seller’s Agent A Seller’s Agent is hired by and represents the best interest of the seller. The relationship usually is created by a listing agreement. Buyer’s Agent This type of licensee is hired by prospective buyers to represent them in a real estate transaction. The buyer’s agent works in the buyer’s best interest throughout the [...]
Read the full article →What are the Transfer Taxes in Chicago and its Suburbs? And who pays them?
UPDATE: THE TRANSFER TAX FOR CHICAGO IS STILL 10.50 PER 1,000 BUT IS NOW SPLIT BETWEEN BUYER AND SELLER. 7.50 PER 1,000 IS THE BUYERS RESPONSIBILY AND 3.50 PER 1,000 IS THE SELLERS. Nothing says Chicago Real Estate these days like Transfer Taxes. A touchy subject after the City of Chicago decided to increase their [...]
Read the full article →Enhance Your Home For A Quicker Sale
Spring market is picking up here in Chicago. More and more people are getting ready to put their place on the market so I thought now would be a good time to give a few tips on how to get that place ready to show. I’ll go over the interior, exterior and what you should [...]
Read the full article →In my opinion there is one reason Lisle, IL homes for sale are having a rough summer: the # of homes for sale. There are some great properties out there in some of my favorite neighborhoods like Green Trails and Oak Hill Estates. Here is a closer look at the July 2010 statistics compared to years past along with a year to date update compared to last year. If we look at the bigger picture for year to date statistics in Lisle we can see that things are not as gloomy as July would suggest. We are actually up in our overall median sale price when looking at everything that has sold in the first 7 months of the year. So chin up Lisle! It is very possible to sell your home and get it sold right!
Lisle, Illinois Real Estate Statistics July 2010
Okay. Lisle. My hometown. Where I grew up. I'm not excited about these statistics. Pricing is down, which was to be expected. Days on market is down which is a good thing along with the sale price to original list price ratio. Both of those showing positive signs tells me one thing...sellers understand the market and are doing what it takes to sell their homes. So buyers beware that Lisle is a place you should pay attention to. The #'s are all what is expected. More for sale vs sold which I'm not crazy about but it is what it is. The median sale price is based off of a smaller sample than years past. I know that areas like Green Trails have a lot of inventory and that is affecting pricing.
July 2008 July 2009 July 2010
Median Price Sold $391,900 $368,000 $305,000
Days on Market 262.3 119 92.8
# Sold 21 19 7
# Under Contract 3 10 6
# For Sale 146 147 168
Sold/Listed Ratio (%) 94.9% 87.1% 93.2%
Lisle, Illinois Year to Date Real Estate Statistics Through July 2010
Good news and some not so good news. Good news is pricing is up overall in the first seven months of 2010 versus 2009. Market time is up a bit though and the # of homes sold overall in Lisle is down. So pick your poison...excited that prices are doing okay!! Not as many buyers coming through the doors in Lisle and that includes tax credit months.
January-July 2009 January-July 2010
Median Price Sold $315,000 $331,000
Days on Market 171.0 180.1
# of homes sold 70 59
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I think this is good news all around. Why? I’m glad you asked. The original deadline to close for the tax credit was June 30th, 2010. So I expected prices to be a little better in June ’10 than June ’09. July was a question mark for me. I was curious to see how it would fare compared to last year. Some of the closings that took place in July were tax credit related. This is due to Congress extending the closing deadline through September 30, 2010. I was also happy to see the number of homes that went under contract. Shows me people are out there buying in Naperville with or without the tax credit. I know my own neighborhood Steeple Run has seen some sales this year before & after April 30th. Let me know if you have any questions on these statistics.
Naperville, Illinois Real Estate Statistics July 2010
We see an increase in median price sold compared to the same month in 2009. Days on market are shorter and number of homes for sale (inventory) is less. Those are all pieces of good news. The number of sold was less which surprises me since I expected to see more tax credit related sales take place in July....however, the deadline to close was just extended and most tax closings still took place before June 30th. So it makes more sense. You can see the sale price to original list price ratio is down...meaning more price reductions along the way with homes starting too high on the market. A common trend in most communities. Overall I think the July stats were better than I expected but with rates so low and prices where they are at it makes a whole lot of sense. I was also very encouraged to see more homes go under contract in July 2010 vs. 2009 since these are buyers with no tax credit incentive and that is probably the biggest positive in my mind.
July 2008 July 2009 July 2010
Median Price Sold $416,600 $395,000 $440,000
Days on Market 142.8 164.8 147.5
# Sold 158 139 97
# Under Contract 129 119 120
# For Sale 1,369 1,225 1,168
Sold/Listed Ratio (%) 92.83% 90.73% 88.21%
Naperville, Illinois Year to Date Real Estate Statistics Through July 2010
Year to date 2010 is looking a lot stronger than this time last year. Median price sold of all properties so far this year is up about 1.5%. Not bad. You have to start somewhere and it is a lot better than being down 1.5%. The number of homes sold so far is up as well which I like to see. Would like to see these trend continue as the year moves on.
January-July 2009 January-July 2010
Median Price Sold $378,000 $384,000
Days on Market 173.5 151.5
# of homes sold 581 680
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