Median Home Price for New Lenox Single Family Homes Falls 6.56% in December 2013

New Lenox Home Prices Fall -6.56% in December 2013.

The December 2013 median sold price for single family homes sold in New Lenox, IL has depreciated -6.56% when comparing December 2013 to December 2012 (year over year). The median price for single family homes sold in New Lenox, IL has depreciated -10.5% when comparing December 2013 to November 2013 (month over month).

The median list price of single family homes for sale in New Lenox during December was $229,000. The median sold price in New Lenox during December was $233,600.

While the median home price movement is a key indicator in the health of the New Lenox real estate market, it is far from the only driving factor. Whether you are a home owner in New Lenox or a potential buyer interested in New Lenox real estate you are undoubtedly interested in how the New Lenox real estate market is doing. The only way you can truly know how the New Lenox real estate market is doing is to be informed.

In this post, we display some of the key real estate statistics for December 2013. The following statistics include only single family homes in New Lenox. The statistics do not include condos, townhomes, or multi-unit properties because they are a separate market from detached single family homes. Bowers Realty Group's website offers graphical representations of the statistics and a more comprehensive explanation of how the real estate market is doing in New Lenox, including explanations of how the key metrics compare to the previous 13 months.

Homes Listed vs. Homes Sold

There were 223 detached single family homes listed for sale in New Lenox during December 2013, with only 28 of those being new listings that went on the market in December. Of those 223 total homes listed, only 24 homes were sold in December. That means only 10.8% of the homes that were on the market for sale at some point in December actually sold.

Market Composition

Of the 223 homes listed for sale in New Lenox during December, 79.4% were Traditional sales, 11.2% were Short Sales, and 9.4% were foreclosures. Compared to last year, that is an increase in Traditional sales over December 2012 of 5.8%, which means there is a smaller percentage of distressed properties on the market. This leads to higher home prices for the entire market.

Are homes selling quickly in New Lenox?

The average for homes that sold in December 2013 was 93 days on the market. Do not assume that your home will sell in 93 days!!! The average number of days homes in New Lenox are on the market before they sell varies significantly from month to month. In fact, it varies drastically from listing to listing. There are many factors that substantially impact how quickly a home sells, which is another topic in itself. Your home can sell much more quickly than the average. If you are interested in how quickly your home can sell, contact Bowers Realty Group at 630-712-1921.

Is it a Buyers' Market or a Sellers' Market in New Lenox?

It is currently a Buyers' Market in New Lenox. To learn about how that is determined or where the signals for next month are pointing, review the report section of Bowers Realty Group's website, www.teambowersrealtors.com.

The accuracy of all information, regardless of source, is deemed reliable but not guaranteed.