MARCH 2015 NEW LENOX REAL ESTATE MARKET CONDITIONS

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

There were 185 New Lenox homes for sale in March, down 11.5% from March 2014, with 209 homes for sale. There were 34 homes closed in New Lenox during March 2015, up 47.8% from last year with only 23 closings last March. The trend continues this year with less inventory and more closed sales!

The average market time for New Lenox during March 2015 was 147 days compared to only 105 days last year in March, which is 40% higher. The average list price in New Lenox during March 2015 was $329,745 which is 2.7% lower compared to last March’s average list price of $338,965. The average sales price during March 2015 was $238,008 up 3.4% compared to last year’s average sales price of $230,198. The percentage of original list price received is 0.2% lower than last March - 90.9% of the original list price last year compared to 90.7% this year. There are some signs of a slowdown such as market time and list prices increasing. Sellers are getting a little bit more on average for their sales price, though, and receiving nearly the same percentage of their original list price as last year.

The number of new listings during March 2015 was 14.1% lower than last year – 79 new listings this March compared to only 92 new listings last March. The number of listings under contract increased by 47.5% this March compared to last – 59 listings under contract this March compared to only 40 listings under contract last March! If you are thinking of selling in New Lenox, this might be the right time for you! Contact The York Team for more information!