The Real Estate Market is best described by the song by The Clash, “Should I stay or should I go now—if I stay there could be trouble, if I go it could be double.”
The current market in Naperville is ideal if you are a seller. There is only 1.1 Month’s Supply of Inventory, meaning at the current velocity of sales and the limited amount of homes per sale, at the current pace Naperville will be out of inventory of existing homes if no new homes hit the market place.
A balanced Real Estate market has six month’s supply of inventory, so the sellers have the definitive advantage. Which is also proven out with the selling price to original list price ratio at 100.5% for closed properties in April 2025.
The average list price year over year is $623.526 in April 2025, up slightly from last year, but I believe that has to do with the mix of more lower-priced home closings. The price per square foot in Naperville is up 3.2% year over year landing at $267 per square foot in comparison to $259 in April 2024.
And lastly, homes are selling quickly—on average under contract in 20 days.
This news is all good for the seller—so what’s in it for the buyer? Buying at today’s costs versus tomorrow’s costs. If a $600,000 house increases year over year 5%, that would equate to buying the home next year at $630,000. That’s a lot to risk. Buy now, refinance when the rates recede.
Real Estate always has and will always be a hedge against inflation and part of the American dream. See me, Elizabeth Gretz, and our team about making your dream of home ownership come true.
