Is Naperville, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Naperville is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Naperville has remained a Seller's Market.

Key Takeaway

Naperville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Naperville, IL

How much do homes in Naperville, IL cost?

Median Sold Price

$549,475

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$43,669(+8.6%)

Key Takeaway

Homes in Naperville have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in Naperville was $549,475 in March 2024, up 8.6% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $150K$168K
+12.0%
2 $264.9K$292.6K
+10.4%
3 $410K$433K
+5.6%
4 $628.8K$660K
+5.0%
5+ $765K$810K
+5.9%

Summary: Naperville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Cities

Naperville Township
+31.8%
Naperville
+8.6%
Bolingbrook
+4.8%
Wheatland Township
+4.5%
Lisle Township
+2.0%

Housing Supply in Naperville, IL

How many homes are available in Naperville, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
366476+30.1%

Summary: The Naperville real estate market had 476 homes for sale in March 2024, a 30.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1218
+50.0%
2 81109
+34.6%
3 74101
+36.5%
4 145173
+19.3%
5+ 5475
+38.9%

Summary: The Naperville housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 34.6%, 3 bedroom homes increased by 36.5%, 4 bedroom homes increased by 19.3%, and 5+ bedroom homes increased by 38.9%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
86124+44.2%

Asking Price vs. Sold Price

44 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

61 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Naperville, you could pay more than the asking price. 49.2% of homes here sold above asking price last month.

Summary: A total of 124 homes were sold or pending in Naperville in March 2024, up by 44.2% month-over-month. Of the 124 sold homes, 35% were sold under asking, 15% were sold at asking, and 49% were sold over asking.

Days on Market for Naperville, IL

How long does it take to sell a home in Naperville, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
25 Days24 Days-2.0%

Summary: Homes in Naperville had an average of 24 days on market in Mar 2024, down by 2% compared to last year.

Breakdown of Home Sale Times

102 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Naperville are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 124 homes were sold in Naperville; 82% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

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