Let’s take a look at the New Lenox real estate market conditions during December 2015.
There were 165 New Lenox homes for sale in December, down 13.6% from December 2014, with 191 homes for sale. There were 26 homes closed in New Lenox during December 2015, down 33.3% from last year with 39 closings last December. This December was definitely busier than last but the decreased number of closings could have to do with the new TRID guidelines and the fact that closings are taking longer to schedule. I think we’ll see a big increase in the number of January closings. The weather being warmer than usual has had more buyers out this December!
The average market time for New Lenox during December 2015 was only 83 days compared to 109 days last year in December, which is 23.9% lower. The average list price in New Lenox during December 2015 was $265,928 which is 8.3% lower compared to last December’s average list price of $289,931. The average sales price during December 2015 was $214,777 down 3% compared to last year’s average sales price of $221,426. The percentage of original list price received is up 3.7% from last December - 92.3% of the original list price last year and 95.7% this year. To put these numbers into perspective, if a seller in New Lenox lists their house for $400,000, they should receive somewhere around $382,800. Properties are still selling faster although prices have cooled off a little bit.
The number of new listings during December 2015 was 19.2% higher than last year – 31 new listings this December compared to 26 new listings last December. The number of listings under contract increased this December compared to last - 32 listings under contract this year compared to 25 last year. If you are thinking of selling in New Lenox, this might be the right time for you! Contact The York Team for more information! Take advantage while housing inventory is low before interest rates go up!