JANUARY 2015 NEW LENOX REAL ESTATE MARKET CONDITIONS

Let’s take a look at the New Lenox real estate market conditions during January 2015.

There were 182 New Lenox homes for sale in January, up 0.6% from January 2014, with 181 homes for sale. There were 22 homes closed in New Lenox during January 2015, remaining identical to last year with 22 closings last January also. This January appears nearly identical to last January which hopefully means we’re in for another good year in real estate since last year was a good one!

The average market time for New Lenox during January 2015 was 139 days compared to 158 days last year in January, which is 12% lower. The average list price in New Lenox during January 2015 was $285,204 which is 15.6% lower compared to last January’s average list price of $337,801. The average sales price during January 2015 was $215,099 down 9.6% compared to last year’s average sales price of $237,957. The percentage of original list price received is 4.8% lower than last January - 92.8% of the original list price last year compared to 88.3% this year. While properties are selling faster, average list and sales prices are down slightly. Sellers are also receiving a smaller percentage of original list price. It seems like sellers were getting too optimistic for a while with their asking prices, so this is most likely the reason for the slight decline.

The number of new listings during January 2015 was 16.7% higher than last year – 56 new listings this January compared to only 48 new listings last January. The number of listings under contract increased by 16% this January compared to last – 29 listings under contract this January compared to only 25 listings under contract last January! If you are thinking of selling in New Lenox, this might be the right time for you! Contact The York Team for more information!