Naperville School District 203 Real Estate Market Update | March 2024 | Kurt Clements Realtor

The February numbers are in, so let’s break down the market data for single-family homes in Naperville School District 203.

Hi, I’m Kurt Clements with eXp Realty in the far west suburbs of Chicago.

At the time of this recording, there are 60 active listings in the district with a median list price of $936,950. Additionally, 63 properties are under contract with a median list price of $640,000.

In February, we had 37 homes sold, with an average market time of 71 days. The average sold price was $945,783.

Looking back at the January results, we had 26 homes sold, with an average market time of 69 days. The average sold price in January was $815,561.

In February, we sold 11 more homes, the average market time increased by 2 days, and the average purchase price increased by $130,222.

We still need more inventory in the area and remain in a seller’s market. When we look at the absorption rate, it’s 1.6 months. The absorption rate is the number of homes available (60) divided by the number of sales (37). In other words, selling the existing inventory would only take 1.6 months if no new homes came on the market. So, if you are considering selling your home, now is a great time to act, as we need more sellers to take advantage of the market.

And if you’re curious about your next move, reach out! We’ll lay out all your options so you can make a confident decision that’s best for you and your family.

Thanks again for watching, and as always, we’re here to help, and we’ll talk with you soon.

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