06/12/2025
The inventory for attached and detached homes in Naperville reminds me of the “Little Engine That Could” book that you read as a child. It went from 1.3 Months' Supply of Inventory in April to 1.4 Months' Supply of Inventory in May—a slight improvement of available homes, but an improvement no less. In fact, available homes increased to 241 homes for sale versus 214 homes available for purchase in May 2024—a slight increase but more of a selection for a buyer. In May 2025, 288 homes went under contract, with the most active price range being homes priced between $ 751,000 and $1 million, which had 80 homes transition from active to pending status. The average closed price was up substantially year over year, $675,743 compared to $623,526 in May 2024—that’s an increase of 8.4%. WOW! And you may want to be quick to the table as homes are going under contract in 16 days—that’s fast! The average price per square foot is up slightly to $264, compared to $260 per square foot for the same period last year. Lastly, homes are selling at 99.8% of the list price, which means the seller, by and large, is getting THEIR price with little negotiating room for the buyer. This is all good for the SELLER, but what about the buyer. Well, if you look at trends (the trend is your friend), if homes continue to increase at 8.4% annually, as they did in May 2025, the same $675,743 home next May would cost approximately $56,762 more if you wait ($732,505). And don’t get me started on how much the additional $56,762 would cost in principal and interest. So the news, good or bad for the buyer, is BUY NOW, set your price today, and not try to predict home prices because historically, they rise in Naperville. If you are interested in the numbers for Aurora, Oswego or any other town in the Southwest suburbs, feel free to contact me. I'd be happy to provide those for you. If you are thinking of selling or buying, feel free to contact me via text/call at 630-631-6637 or [email protected] I Hope this information is helpful.