DECEMBER 2014 NEW LENOX REAL ESTATE MARKET CONDITIONS

Happy New Year 2015! Cheers to a prosperous year!

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

There were 181 New Lenox homes for sale in December, up 1.1% from December 2013, with 179 homes for sale. There were 38 homes closed in New Lenox during December 2014, up 5.6% with 36 closings last December. The number of homes for sale remains about the same from last year but more homes have closed which is a good sign.

The average market time for New Lenox during December 2014 was 111 days compared to 71 days last year in December, which is 56.3% higher. The average list price in New Lenox during December 2014 was $297,750 which is 24.9% higher compared to last December’s average list price of $238,477. The average sales price during December 2014 was $222,384 up 9.9% compared to last year’s average sales price of $202,320. The percentage of original list price received is 2% lower than last December - 94% of the original list price last year compared to 92.1% this year. Properties seem to be taking a little bit longer to sell but sellers are also listing them at higher prices which could be causing the slowdown. Sellers are on average selling their properties for higher prices though.

The number of new listings during December 2014 was 36.8% lower than last year – 24 new listings this December compared to only 38 new listings last December! The number of listings under contract increased by 47.1% this December compared to last – 25 listings under contract this December compared to only 17 listings under contract last December! If you are thinking of selling in New Lenox, this might be the right time for you! Contact The York Team for more information!