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Clarendon Hills, IL Real Estate Market Update – August 2009

Here is a quick look at how things are looking in Clarendon Hills, IL. I must say compared to most of the communities in this area it looks like Clarendon Hills is not doing as well as some. I was surprised at the numbers in pretty much every category. Market time is way up, months supply of inventory is very high and the median price of just about everything is down big. These statistics pulled for August 2009 are only for Single Family Homes. This does not include condos or townhouses. If you live in an area or a type of property not represented in any of these reports you can contact me and I’d be happy to put a custom report together for you. All you have to do is ask.

If you like the stats provided or any other part of the blog don’t forget to bookmark or subscribe. Lastly, don’t forget to check out my MLS property search. It’s top of the line and it does not require any registration. Here is a summary of the market statistics:

• Median Sold Price for August 2009 was $517,500.  Based on 8 total sales and down by 40% in Clarendon Hills compared to August 2007.
• Months supply of inventory for Clarendon Hills in August 2009 was 10 months.  Average MSI over the past two years is at 25.5 months.
• Average market time for under contract properties in Clarendon Hills for August 2009 was 194 days on the market.  Average for the past 2 years is closer to 121 days.

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Lisle, IL Real Estate Market Update – August 2009

August 2009 was an interesting month for the Village of Lisle.  I saw some things that were positive and some things that were not so positive.  End of the day I’m optimistic as the positive signs are in things I think paint a true picture of the market.  For example:  market time is down, months supply of inventory is improving, and the pricing is staying pretty consistent.  The one surprise I guess is the # of sales.  While most communities like Downers Grove and Naperville are seeing sales go up and pricing go dramatically own, Lisle is kinda doing its own thing.  Visit the Lisle Community page within the blog to get more statistics on top of what you’ll find here.  Also, don’t hesitate to use our property search of the great Chicagoland area.  It’s free and there is no registration…unless you want to.  Lastly, keep in mind that all of these statistics are for single family homes.  If you have a townhouse or condo I can put together a custom report for you….just ask.  Here are some of the details for you:

• The # of single family homes that sold in Lisle, IL were 8 with a median price of $380,500.
• The # of properties that went under contract were 16 and their median price at that time was $399,880.
• The # of homes in Lisle for sale at the end of August was 148 and their median ask price was $398,000.
• Average market time for under contract properties through August 2009 in Lisle was 75.  The two year average for market time is 80.2 days.
• Percent of properties under contract in Lisle for August was 10.8%.
• Month’s supply of inventory for Lisle, IL single family homes at the end of August was 7.2 months.  Not bad.  The two year average MSI is at 17.2 months.  Heading in the right direction but we are heading into fall and winter markets where the MSI typically shoots up.

Click to enlarge graphs below:

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Tags: Lisle

Downers Grove, IL Real Estate Market Update – August 2009

Let’s take a quick look at how things are shaping up in Downers Grove, IL at the end of the summer.  If you live in a certain area and would like a custom report like the one below just let me know I’d be more than happy to put it together for you.  If you want to get more information on Downers Grove you can visit the community page here on the blog.  There you will also find a few quick property searches for different types of property in Downers.  Just looking to search all properties everywhere?  You can do that here.  Here is a summary of updates for August in Downers Grove.  These statistics are for single family detached homes only:

• 42 homes sold with a median sale price of $295,000.  Down 21% compared with August 2007.
• 465 homes were still on the market active at the end of August.  Their median for sale price is $399,000.  Big difference between ask price and sale price listed above.
• 34 properties went under contract in August.  The median price for those single family homes was $329,950.  Down 17% compared to August 2007.
• Months supply of inventory for August was 10.9.  Two year average (which I think is more important) is at 17.5 months.  “Normal” market is between 4 & 6 months supply.
• Average days on market was 74 days.  Pretty good compared to 110 just one month ago at the end of July.  2 year average is just over 100 days.
• Percent of properties under contract in Downers Grove is at 7.4%.  Not good.  2 year average is closer to 5%.  Not good.  Most communities surrounding Downers Grove have broken into double digits.  This is one of several factors that help explain the higher months supply of inventory.

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Naperville, IL Real Estate Market Update – August 2009

Here is a look back at how the real estate market is shaping up in Naperville, IL through August 2009.  From median pricing to average market time to month’s supply of inventory (MSI) these charts will show you everything you need to know.  Have a question about something you see here?  Let me know what it is and I’d be more than happy to help.  If you’d like to take a look at more information for Naperville, IL you can visit the community page.  If you’d like to search for property in Naperville don’t forget to visit our free property search.  By free I mean NO REGISTRATION required for using our MLS property search.  Here is a breakdown of what you’ll find in the graphs above:

• Median price for sold properties in August of 2009 in Naperville was $414,950.  That is down 11% from August 2007.
• Median price for under contract properties was $399,850.  Down 17% from 2007.
• Median price for active properties is $484,500.  That number is down 5% compared to August 2007.
• Average days on market in Naperville for August 2009 was 93 days.
• Month’s supply of inventory (MSI) in August was 6.7 months.  That number is down 28% from August 2007.  Good news!
• Percent of properties on the market that are under contract is 11.3%.  Up 37%.  More good news!  We like to see the % UC in the double digits.

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Lisle, IL Real Esate Market Information – July 2009

Here is a look at the Lisle, IL 60532 real estate market update as of July 2009.  These are for detached single family homes only.  The statistics are based off of the past two years and will look at Median Sold, Under Contract and For Sale.  We will also look at # of units on the market (supply & demand) as well as the current month’s supply of inventory (MSI).

• The median sold price for Lisle, IL in July 2009 was $368,000.
• The median for sale price for Lisle, IL in July 2009 was $399,000.
• The median under contract price for Lisle, IL in July 2009 was $389,000 (this is asking price when it went under).
• The # of units for sale in July 2009 for Lisle was 156.
• The # of units sold in July 2009 was 19.
• The # of units that went under contract in Lisle in July 2009 was 10.
• The months supply of inventory for Lisle, IL 60532 for July 2009 was 12.6 (a “normal” market falls in the 4-6 month range).

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Clarendon Hills, IL – Chicago’s Western Suburbs – Real Estate Information – February 2009

Let’s take a quick glance at what was going on with the Clarendon Hills real estate market for the month of February 2009.  As always you can contact me with additional questions.

• The average home price over the past 13 months is $598,000.
• The months supply of inventory for Clarendon Hills for February was 95 months.  As you’ll see later on that this is based off of 1 property going under contract.  The average over the past year was 29 months.
• Average days on market for under contract properties?  136 days for that one property.  That actually matches right up with the years average of just over 136 days.
• Percent of properties under contract was 0.9%.  Again, with only 1 under contract let’s not look much into this.

Only 4 properties have sold in the past 3 months in Clarendon Hills.  Quick reminder that Months Supply of Inventory is figured out by taking the total inventory and how many properties have gone under contract and dividing.  Very simple…let’s us know how long it would take, at the current pace, to sell everything currently for sale.  Healthy market is between 4-6 months.  Anything higher than 6 months puts us in a “buyers market.”  Right now we are in a VERY STRONG BUYERS MARKET.  I look at the average price over the past 13 months instead of month to month because it gives us a better idea of where we are trending.  Let’s look at a few more numbers:

• Total # of properties For Sale at the end of February in Clarendon Hills was 105.  Down 19% from last year.
• Total # of properties under contract was 1.  Down 86% from last February when we had 7.
• Total # of properties Sold was 3 which matched last year.
• Total # of properties that Expired off market were 11.  Up 10% from last year.
• Total # of New listings added in February to the market was 23.  Down 18% from last years 28.

Quick note on the numbers above.  Take a look at the # of Sold and Under Contract and then look at the # of New.  Notice something?  The homes coming on the market are outnumbering the homes coming off the market.  Thus, we get more added to next months inventory.  Inventory stays high which effects days on market, median price and everything else.

Questions?  Feel free to let me know if you need anything more specific.  I’m hear to help and I love looking up the statistics.  I feel it helps us get a good sense of what is going on in the market.  If you ask a real estate agent how’s the market they’re going to tell you based off of their experience.  If that agent is busy that week they’ll be optimistic.  Opposite can happen.  That is why I like the nubmers….they’re tough to argue.  Enjoy!!

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Tags: clarendon hills market update

Westmont, IL – Chicago’s Western Suburbs – Real Estate Information – February 2009

Let’s take a look at how the Westmont real estate market did last month for single family homes.

Total number of properties on the market as of February 28th was 130.  That is down just 1% from a year ago this time.  Looking at the total number of properties in Westmont under contract is 5…down 29% from last year when we had 7.  Total number sold in February?  Just 1.  Down 88% from last years 8.  This is unreal…the total number of expired for Westmont single families in February was 24.  That is up 118% from last year.  We saw the same number of new listings as last year at 26.  With 1 sold and 5 under contract (6 total) and 26 new it looks like we’re adding to existing inventory.  Big question is how many of those expired are part of the new?

% of properties under contract is 3.8%. Down from last year.

The median price over the past 13 months has been $304,000.

The months supply of inventory (one of my favorite statistics) for Westmont was 20.2 months in February.  Up 25% from last year when we were closer to 16 months.  This number has been increasing quickly making this a VERY STRONG BUYERS MARKET. We want to get this number closer to 4-6 months and then we can start talking normal/healthy market.

Average days on market for those properties under contract was 152 days. That is up from the 13 month average of 105 days and rising quickly.  So we are down where we want to be up and up where we want to be down.

Just keep in mind a few things:  the statistics I’m talking about are for Detached Single Family homes.  When I’m comparing to figured a year ago I’m comparing February to February.  Anytime I talk about average Days on Market I’m looking at the average for those properties that have gone under contract.  So, when numbers are up or down they are up or down from last February.

If you like what you’re reading I’d encourage you to subscribe to this blog.  If you want to hang out and take a look around we have a wonderful Property (MLS) search that incorporates Google Maps.  If you have any questions never hesitate to contact me.  Enjoy!!

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Tags: market statistics, Westmont

Downers Grove, IL – Chicago’s Western Suburbs – Real Estate Information – February 2009

Let’s take a look at how single family homes in Downers Grove did as of the end of February 2009.

Total number of single family homes for sale at the end of February was 434 which is down 9% from last February.  Total number of properties that accepted a contract in the month was 16.  That is down 16% from last year’s 26.  Total number of sold?  15.  A drop of 12%.  Up 29% from last year are the number of expired homes at 44 for the month.  Good thing is the total number of new listings last month was down 16% from last year.  Bad thing is at 81 that number is still higher than the sum of under contract and sold.  Thus, we continue to add to an already high inventory.

% of properties that are under contract is at 3.7%. A very low number.

The median price over the past 13 months was $371,000 in Downers Grove.

We’re looking at a Months Supply of Inventory of 23.4 months in February.  That number is up 5% from last year and the average over the past 13 months was 18.1.  So we’re trending upwards making this a VERY STRONG BUYERS MARKET. A healthy/normal Months Supply of Inventory will be between 4-6 months.

The average days on market for Downers Grove was 165 days in February. This just looks at those properties that have gone under contract.  This is up 53% from last year.

Just keep in mind a few things:  the statistics I’m talking about are for Detached Single Family homes.  When I’m comparing to figured a year ago I’m comparing February to February.  Anytime I talk about average Days on Market I’m looking at the average for those properties that have gone under contract.  So, when numbers are up or down they are up or down from last February.

If you have any questions never hesitate to ask.  I would encourage you to subscribe to the blog if you like what you’re reading.  Looking for a good MLS/Property search online?  Look no further because we have a good one.  Check it out.  Enjoy!!

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Tags: Downers Gove, market statistics

Lisle, IL – Chicago’s Western Suburbs – Real Estate Information – February 2009

Let’s take a closer look at Lisle, IL real estate market statistics as of February 2009.

Total number of single family properties for sale as of February 2009 was 124.  That is up 6% from last February which saw 117 on market.  Number under contract is 5 (same as last year.)  Total number sold was 7 (same as last year.)  Total number of properties that expired in February was 13, up 18% over last years 11.  Finally, the total number of new listings added to the market in February alone was 30.  That figure is up 50% from last year.

% of properties under contract in Lisle as of the end of the month:  4%.

The average median price over the past 13 months in Lisle is $345,000.

The months supply of inventory (MSI) for Lisle was 21.2 up 5% from last February.  The average over the past year is around 20.7.  This is extremely high an puts us in a VERY STRONG BUYERS MARKET. Keep in mind a healthy/normal MSI is 4-6 months.  We go above that and we start talking buyer’s market…..well, we are way above that.  We get into the 3 month and below range and we talk seller’s market.

Average days on market for under contract properties in Lisle has averaged out to 81.9 days over the past 13 months.  Average days on market in February this year was 179 up 141% from last February. This is trending upward very quickly.

Just keep in mind a few things:  the statistics I’m talking about are for Detached Single Family homes.  When I’m comparing to figured a year ago I’m comparing February to February.  Anytime I talk about average Days on Market I’m looking at the average for those properties that have gone under contract.  So, when numbers are up or down they are up or down from last February.

If you would like me to personalize a report for you just let me know.  I can look at just condos, just new construction, just resale and a bunch more.  This way you can see where you are at compared to these general statistics.  If you like what you’re reading I’d invite you to subscribe and also spread the word.  I’ll keep putting these up for you if you keep coming back.  Enjoy!!

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Tags: Lisle, market statistics

Naperville, IL – Chicago’s Western Suburbs – Real Estate Information – February 2009

Let’s take a look at how things have been going in the Naperville, IL real estate market as of end of February, 2009.

The total number of single family homes for sale in Naperville is 1,063 and that number is down 4% from last year (1,110.)  When looking at number of properties under contract in February we saw 73 go under and that number is down 9% from a year ago.  Number of Sold?  That is down 46% at 38 units compared to 71 last February.  Naperville expired properties are up 10% at 102 from 93 last year.  Last but not least the number of new listings on the market for Naperville is at 234 down 7% from last year.

The average median price for all of  Naperville single family homes over the past 13 months (Feb. ‘08-Feb. ‘09) was $410,000.

The Months Supply of Inventory for Naperville in February this year was 12.2 months.  That is just below the average of 12.3 months over the past year but up from last February when we saw a 11.7 months supply of inventory (MSI.)  Keep in mind that a normal/healthy MSI is 4-6 months.  Anything above is considered a buyers market and anything below is a seller’s market.  We are currently in a strong buyers market for Naperville.

Two more statistics I personally enjoy and give a good sense of where the market is at is Days on Market (market time) and percent of properties under contract (% under contract.)  The average days on market for under contract properties over the past year was 83.1.  However, February saw its average days on market at 114.  So we’re trending upwards fast.

The % under contract for Naperville is 6.9%. A low number and a simple way to sum up what the market is like.  Lots of inventory with more new coming on the market then sold and under contract combined with high days on market will bring down prices.  We need to see more under contract and sold vs. new and once that happens we’ll start to see these other numbers go in directions we all want to see.

Just keep in mind a few things:  the statistics I’m talking about are for Detached Single Family homes.  When I’m comparing to figures a year ago I’m comparing February to February.  If I say things are up or down it is based off of that individual month.  I’ll let you know if I’m averaging the entire year (13 months.)  Anytime I talk about average Days on Market I’m looking at the average for those properties that have gone under contract.

As always let me know if there are any questions.  Please subscribe to this blog if you like what you read and spread the word.  If you’re actively looking I’d encourage you to take adavantage of our MLS property search.  Enjoy!!

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Tags: market statistics, Naperville