JUNE 2015 NEW LENOX REAL ESTATE MARKET CONDITIONS

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

There were 207 New Lenox homes for sale in June, down 13.4% from June 2014, with 239 homes for sale. There were 68 homes closed in New Lenox during June 2015, up 17.2% from last year with only 58 closings last June. Inventory is still down from last year and closings are up! This means buyers are facing more competition because they have fewer homes to choose from.

The average market time for New Lenox during June 2015 was 106 days compared to 125 days last year in June, which is 15.2% lower. The average list price in New Lenox during June 2015 was $337,153 which is 7.5% higher compared to last June’s average list price of $313,485. The average sales price during June 2015 was $249,975 up 3.7% compared to last year’s average sales price of $241,018. The percentage of original list price received is down 2.3% from last June - 95.9% of the original list price last year and 93.7 this year. Properties are selling faster, sellers are listing at higher prices, and properties are selling for more money. Sellers are receiving a smaller percentage of their asking price but it also seems like sellers are getting too optimistic in pricing their properties higher to begin with. Our team has even seen a few appraisal issues lately for this exact reason.

The number of new listings during June 2015 was 3.3% higher than last year – 93 new listings this June compared to only 90 new listings last June. The number of listings under contract remained the same this June compared to last – 54 listings under contract. If you are thinking of selling in New Lenox, this might be the right time for you! Contact The York Team for more information!