October 2013 New Lenox Real Estate Market Conditions

Let’s take a look at the New Lenox real estate market conditions during October 2013.

There were 193 New Lenox homes for sale in October, down 18.9% from October 2012, with 238 homes for sale! There were 31 homes closed in New Lenox during October 2013, up 10.7% with only 28 closings last October. More closings and fewer homes available for sale means extra competition for the New Lenox real estate market, which could help home prices rise!

The average market time for New Lenox during October 2013 was 99 days compared to 172 days last year in October, which is 42.8% lower! The average list price in New Lenox during October 2013 was $264,396 which is 11.3% lower compared to last October’s average list price of $297,998. The average sales price during October 2013 was $233,346 up 5.7% compared to last year’s average sales price of $220,859. The percentage of original list price received increased by 3.9% from last October to this October - 89.8% of the original list price last year compared to 93.2% this year. Homes are selling twice as quickly as they were last year and average sales prices are up. Sellers are also receiving a higher percentage of their original list price. Now is the time to list your home for sale in New Lenox!

The number of new listings during October 2013 was 6.1% higher than last year – 52 new listings this October and 49 new listings last October. The number of listings under contract increased 53.6% this October compared to last – 43 listings under contract this October compared to only 28 listings under contract last October! If you are thinking of selling in New Lenox, this might be the right time for you!