Naperville, IL Market Snapshot

Naperville, IL

Single Family Homes Sales, Prices and Inventory

Each data point is 12 months of activity.

Number of Home Sales

Despite strong buyer demand for homes in Naperville, due to constrained inventory at all but the highest price points, the sales of single family homes in the past year dropped about 10% from 2018's previous record-setting pace. 

Average Sales Price

In Naperville over the past year, the average sales price of about $480,000 remained steady. Lower-priced homes sold for an average of $260,000, the same average price in the previous year. This should give some encouragement to Millenial and first-time homebuyers who would like to purchase a home but have been discouraged by rising prices. Despite a slight decrease in the past year to an average of $677,000, homes priced over $500,000 have one of the highest average prices in the western suburbs.

Average Market Time

Market time is the number of days that a house was on the market when it went under contract. Of the homes that sold over the past year, homes priced below $300,000 went under contract in under 60 days, while the sellers of homes from $300,000 to $500,000 accepted a contract in under 3 months.

But even within the higher price categories, a well-priced home in great condition can sell in a matter of days after being listed. No matter the price point, buyers need to move quickly when they see a new listing that they like.

Average Months Supply

Like most areas in the western suburbs, for the past several years Naperville has been a strong seller's market for lower and mid-priced homes, and a buyer's market for homes priced in the upper ranges. 

Under 4 months of supply indicates a seller's market with more active buyers than there are homes for sale, so sellers have the upper hand in pricing and negotiating. More than 7 months of supply shows a buyer's market with more homes for sale than active buyers, so buyers can expect to negotiate for more favorable deals. A balanced market with 4 to 6 months of inventory generally has steady sales and prices. 

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