January 2014 New Lenox Real Estate Market Conditions

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

There were 169 New Lenox homes for sale in January, down 21% from January 2013, with 214 homes for sale! There were 20 homes closed in New Lenox during January 2014, up 42.9% with only 14 closings last January!!! Fewer homes for sale and more closings is a fantastic sign!

The average market time for New Lenox during January 2014 was 148 days compared to 184 days last year in January, which is 19.5% lower. The average list price in New Lenox during January 2014 was $349,348 which is 25.9% HIGHER compared to last January’s average list price of $277,525. The average sales price during January 2014 was $246,391 up 5.5% compared to last year’s average sales price of $233,571. The percentage of original list price received is higher than last January - 87.7% of the original list price last year compared to 93.1% this year. Homes are flying off the market and sellers are listing for higher prices and receiving higher prices. Low-ball offers are really a thing of the past also as I am seeing homes receive multiple offers and end up selling for more than what they are listed for.

The number of new listings during January 2014 was 21.7% LOWER than last year – 47 new listings this January compared to 60 new listings last January! The number of listings under contract increased 3.8% this January compared to last – 27 listings under contract this January compared to 26 listings under contract last January! If you are thinking of selling in New Lenox, this might be the right time for you!