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Health & Fitness

New Lenox Single Family Home Prices Rise 14.91%

New Lenox, IL Single Family Home Prices Rise 14.91% in November 2013.

The November 2013 median sold price for single family homes sold in New Lenox, IL has appreciated 14.91% when comparing November 2013 to November 2012 (year over year). The median price for single family homes sold in New Lenox, IL has appreciated 4.8% when comparing November 2013 to October 2013 (month over month).

The median list price of single family homes for sale in New Lenox during November was $265,000. The median sold price in New Lenox during November was $262,000.

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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 homes for sale in New Lenox, IL 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 November 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.

Find out what's happening in New Lenoxwith free, real-time updates from Patch.

Homes Listed vs. Homes Sold

There were 243 detached single family homes listed for sale in New Lenox during November 2013, with only 27 of those being new listings that went on the market in November. Of those 243 total homes listed, only 27 homes were sold in November. That means only 11.1% of the homes that were on the market for sale at some point in November actually sold.

Market Composition

Of the 243 homes listed for sale in New Lenox during November, 81.1% were Traditional sales, 12.8% were Short Sales, and 6.2% were foreclosures. Compared to last year, that is an increase in Traditional sales over November 2012 of 3.7%, 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 November 2013 was 141 days on the market. Do not assume that your home will sell in 141 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 above statistics were calculated by Bowers Realty Group based on information directly from the MLS (Multiple Listing Service), Midwest Real Estate Data LLC. For more information about selling your house in New Lenox or buying a home in New Lenox, contact Bowers Realty Group at 630-712-1921.

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


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