July 2014 New Lenox Real Estate Market Conditions

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

There were 234 New Lenox homes for sale in July, up 1.7% from July 2013, with 230 homes for sale. There were 49 homes closed in New Lenox during July 2014, up 6.5% with 46 closings last July. Inventory is basically the same as last year while there have been a few more closings. Activity should pick up even more this fall!

The average market time for New Lenox during July 2014 was 81 days compared to 106 days last year in July, which is 23.6% lower! The average list price in New Lenox during July 2014 was $265,653 which is 9.4% lower compared to last July’s average list price of $293,317. The average sales price during July 2014 was $254,900 up 6% compared to last year’s average sales price of $240,500. The percentage of original list price received is 1.2% higher than last July - 93.6% of the original list price last year compared to 94.7% this year. Homes are selling more quickly although average list price is slightly down - but average sales price is slightly higher. Sellers are optimistic going into this fall so we expect to see more listings coming on the market.

The number of new listings during July 2014 was identical to last year – 80 new listings this July compared to 78 new listings last July. The number of listings under contract increased 10.2% this July compared to last – 54 listings under contract this July compared to only 49 listings under contract last July! If you are thinking of selling in New Lenox, this might be the right time for you! Contact The York Team for more information!