Naperville homes for sale inventory is turning the corner. MSI is decreasing!
This graphic might be a little hard to read, so let me explain. This shows the Month’s Supply of Inventory of Naperville homes for sale. It is saying that at the current rate of sales, there are approximately 7 months worth of inventory on the market.
From our perspective, 5-6 MSI is a balanced market,. 6+ MSI is a buyers market and less than 5 MSI is a sellers market. Fall of 08 into Spring of 09 we were sitting at close to 10-11 MSI with the Naperville homes!!
Can you notice the arch in the trend line, it appears we are hitting a peak. This is a major shift in the market. We will continue to watch this MSI number this summer. If it continues, we may see a good spring market next year!
Combine a lower inventory with lower prices and the buyers of Naperville real estate will come out in droves. We are seeing first time buyers in Naperville, Plainfield, and Oswego picking up all the lower priced homes. They are the first to go. Investors are also going strong. Including ourselves!!
Here is the Average Sales Price in Naperville. (15% down)
This is a GREAT TIME TO MOVE UP TO A BIGGER HOME! I’ll explain tomorrow!
Rich and Karen Ayers are licensed Real Estate Brokers in Illinois. We are experienced Brokers who specialize in Residential and Investment real estate in Naperville, Oswego, Plainfield and the surrounding suburbs of Chicago. We also own and manage multiple investment properties and help real estate investors find, buy, fix, rent and sell their investments. Visit our website at www.AyersTeam.com or receive our blog via your RSS Feed or in your email.
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