August 2014 New Lenox Real Estate Market Conditions

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

There were 230 New Lenox homes for sale in August, down 0.4% from August 2013, with 231 homes for sale. There were 60 homes closed in New Lenox during August 2014, down 91% with 66 closings last August. Numbers remain fairly stable from last year at this time.

The average market time for New Lenox during August 2014 was 88 days compared to 87 days last year in August, which is 1.1% higher. The average list price in New Lenox during August 2014 was $310,623 which is 28.5% higher compared to last August’s average list price of $241,641. The average sales price during August 2014 was $246,780 up 12.7% compared to last year’s average sales price of $219,014. The percentage of original list price received is 0.1% lower than last August - 94.9% of the original list price last year compared to 94.8% this year. While average market time has remained the same as last year - just under 3 months - the average list price is much higher than last year. Average sales price is also higher this year and sellers are receiving about the same percentage of original list price. It’s great to see that prices have gone up a lot since last year!

The number of new listings during August 2014 was 10.8% higher than last year – 72 new listings this August compared to 65 new listings last August. The number of listings under contract increased by a whopping 47.5% this August compared to last – 59 listings under contract this August compared to only 40 listings under contract last August! If you are thinking of selling in New Lenox, this might be the right time for you! Contact The York Team for more information!