October 2014 New Lenox Real Estate Market Conditions

Let’s take a look at the New Lenox real estate market conditions during October 2014.

There were 224 New Lenox homes for sale in October, up 9.3% from October 2013, with 205 homes for sale. There were 47 homes closed in New Lenox during October 2014, up 51.6% with only 31 closings last October. Although there’s slightly more inventory than last year, the number of closings is way up!

The average market time for New Lenox during October 2014 was 51 days compared to 99 days last year in October, which is 48.5% lower. The average list price in New Lenox during October 2014 was $266,259 which is 0.7% higher compared to last October’s average list price of $264,396. The average sales price during October 2014 was $272,456 up 16.8% compared to last year’s average sales price of $233,346. The percentage of original list price received is 3.4% higher than last October - 93.2% of the original list price last year compared to 96.4% this year. Properties are selling way faster, average list price is higher and average sales price is higher! Sellers are also receiving a greater percentage of their original listing price!

The number of new listings during October 2014 was 5.8% higher than last year – 55 new listings this October compared to 52 new listings last October. The number of listings under contract decreased by 33.3% this October compared to last – 26 listings under contract this October compared to 39 listings under contract last October. If you are thinking of selling in New Lenox, this might be the right time for you! Contact The York Team for more information!