MAY 2015 NEW LENOX REAL ESTATE MARKET CONDITIONS

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

There were 191 New Lenox homes for sale in May, down 14.7% from May 2014, with 224 homes for sale. There were 53 homes closed in New Lenox during May 2015, up 29.3% from last year with only 41 closings last May. With less inventory and more closings, buyers will soon be left with fewer choices when searching for homes.

The average market time for New Lenox during May 2015 was 93 days compared to only 65 days last year in May, which is 43.1% higher. The average list price in New Lenox during May 2015 was $306,901 which is 5.2% higher compared to last May’s average list price of $291,853. The average sales price during May 2015 was $265,649 up 1.4% compared to last year’s average sales price of $261,917. The percentage of original list price received is the same as last May - 95.9% of the original list price last year and this year. Properties are taking a little longer to sell but the average listing price is a little higher so that is to be expected. Sellers are also getting a little more for their properties this year.

The number of new listings during May 2015 was 5.9% lower than last year – 80 new listings this May compared to only 85 new listings last May. The number of listings under contract increased by 3.7% this May compared to last – 56 listings under contract this May compared to only 54 listings under contract last May! If you are thinking of selling in New Lenox, this might be the right time for you! Contact The York Team for more information!