February 2014 New Lenox Real Estate Market Conditions

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

There were 173 New Lenox homes for sale in February, down 24.1% from February 2013, with 228 homes for sale! There were 20 homes closed in New Lenox during February 2014, up 17.6% with only 17 closings last February!!! Having fewer homes for sale and more closings is a great sign for the spring market we’re getting into.

The average market time for New Lenox during February 2014 was 233 days compared to 169 days last year in February, which is 37.8% higher. The average list price in New Lenox during February 2014 was $293,341 which is 13% lower compared to last February’s average list price of $337,268. The average sales price during February 2014 was $252,554 up 38.2% compared to last year’s average sales price of $182,710. The percentage of original list price received is 4.3% higher than last February - 89.4% of the original list price last year compared to 93.3% this year. While average market time increased and average list price decreased, I believe this is a random statistic since everything else is pointing positive. Average sales price is much higher as well as percentage of original list price received. We’re still seeing properties selling quickly and with multiple offers in a lot of cases.

The number of new listings during February 2014 was 23.6% LOWER than last year – 42 new listings this February compared to 55 new listings last February! The number of listings under contract increased 22.2% this February compared to last – 33 listings under contract this February compared to 27 listings under contract last February! If you are thinking of selling in New Lenox, this might be the right time for you!