Many analysts believe the number of new home sales is an indicator of the health of the real estate market. Today I contacted the Village of Plainfield to get some figures on the number of permits requested by new home builders in Plainfield IL.
New permits issued for new construction:
In the last 6 months only 26 new permits were requested through the village. As you can see there has been a drastic reduction in the amount of permits that have been applied for between 2007 and 2008, which shows a decrease of 57.5%.
Julie Ferenzi | Realtor®
Plainfield IL Homes
630-673-6233
In the first quarter of this year, 145 single-family homes were sold.
The average list price for a single-family home in Naperville is $436,662. The average sale price is $405,476. Based on these numbers if you are selling a home in Naperville IL you can expect to get about 93% of your asking price in this market.
Homes with 4 bedrooms made up 66.2% of the homes sold in the first 3 months of 2009, while homes with 3 bedrooms made up about 24.1% of the market share.
4 bedroom homes are selling at about 93% of the average list price of $455,102, which means they are selling for an average closed price of $424,604.
3 bedroom homes are selling at about 94% of the average list price of $290,046 for a single-family home in Naperville, which means they are closing at an average closed sale price of $272,886.
5 bedroom single-family homes in Naperville only make up about 7.5% of the total sales. The 5 bedroom homes are only getting about 89% of their average list price of $770,495 for an average sale price of $689,500.
Julie Ferenzi | Realtor®
Naperville IL Homes
630-673-6233
The 1st quarter Plainfield IL single family market report is now available. I have interpreted this information has been taken directly from the MLS. In a follow up post I will compare and contrast the 1st quarter of 2008 and 2009.
In the first 3 months of 2009, 157 single family homes sold in Plainfield IL. Homes are currently selling at 95% of their asking price in 167 days on average.
100 of the 157 homes that sold this quarter were 4 bedroom homes, which was 63% of the market share of the homes sold. There were only 9 Plainfield IL homes that sold, but those home sold at about 96% of their asking price, up 1% from the total average. The average market time on the 5 bedroom homes were about 26% higher than the total average of 167 days.
Julie Ferenzi | Realtor®
Plainfield IL Homes
630-673-6233
There were 87 single family Bolingbrook IL homes that sold during the first quarter of 2009 from January 1st through March 31st. 42% of the homes sold were 3 bedroom homes and the 4 bedroom home market accounted for 47% of the market share.
The average sale price of a 3 bedroom home in Bolingbrook is $166,419 which is 93% of the average asking price. 93% is lower than the average list to sale price ratio of some neighboring communities like Plainfield IL where sellers of 3 bedroom family homes are getting about 95% of their asking price.
In contrast, sellers in the 4 bedroom market in Bolingbrook IL are getting about 96% of their list price which is $248,651 on average. Even more surprising is that the 5 bedroom market is getting 98% of their average list price. The average list time on a 5 bedroom home in Bolingbrook is only 40 days. This tells me that 5 bedroom Bolingbrook IL homes are in fairly high demand.
One interesting thing about the Bolingbrook market is the difference the average price between 4 to 5 bedroom homes which is only 7.2%, while the difference in the average price between a 3 and 4 bedroom home is about 30%.
If you or someone you know are thinking about buying or selling a home in Bolingbrook IL, call me at 630-673-6233.
If you are behind in your mortgage payments, you may qualify for a short sale or loan modification to avoid a foreclosure. Call me for a confidential conversation regarding foreclosure and your options.
Julie Ferenzi | Realtor®
Bolingbrook IL Homes
630-673-6233
To start, volume of single family detached home sales in Plainfield IL this March is down by about 11% compared to the same time last year, while the depreciation in the price of single family detached home market is up by about 17.2%. Single family homes in March of 2009 are selling for about 17.2% less than they did just 12 months prior, on average.
The average sale price of a Plainfield IL home was about $280,133 last year, compared to $232,056 in March of this year. The good news is that Plainfield IL homeowners who have sold have gotten about 96% of their asking price on average. That means if you house if your home is not over-priced, you should expect to receive about 96% of your total asking price, and that sellers are only having to make about 4% concessions during negotiation.
3 bedroom single family homes suffered a 16% total average depreciation from last year, while 4 bedroom Plainfield IL homes decreased in value by about 24% on average. In contrast, single family 5 or more bedroom homes increased in value by about 9.6% on average.
Market times in Plainfield IL are down about 20% when comparing March 2008 to March 2009, meaning they are selling in about 20% less time than they did last March, which is great news for anyone selling a home in Plainfield IL!
Julie Ferenzi | Realtor®
Plainfield IL Homes
630-673-6233
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I am a licensed real estate agent and Realtor® in Plainfield lL. I love working with first time home buyers, renters, and have 4 years experience in foreclosures and short sales.
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