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

The March 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 55 active listings in the district with a median list price of $1,305,338. Additionally, 87 properties are under contract with a median list price of $640,000.

In March, we had 45 homes sold, with an average market time of 36 days. The average sold price was $727,240.

Looking back at the February results, we had 37 homes sold, with an average market time of 71 days. The average sold price in February was $945,783.
We sold 8 more homes in March, the average market time decreased by 35 days, and the average purchase price decreased by $218,543.

Looking back at the results from a year ago, the average sold price in the district in March 2023 was $603,575. Comparing that to March 2024 numbers of $727,240, I think it’s safe to say that Naperville School District 203 homeowners have done pretty well!

We still need more inventory in the area and remain in a seller’s market. When we look at the absorption rate, it’s 1.2 months. The absorption rate is the number of homes available (55) divided by the number of sales (45). In other words, selling the existing inventory would only take 1.2 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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If your house isn't working for you, isn't it time to find a home that does? Reach out to us whether you are a first-time homeowner, considering upsizing or downsizing, or possibly even moving a year from now! We are more than happy to walk you through the process.😇🏡👍

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