Let’s take a closer look at Lisle, IL real estate market statistics as of February 2009.

Total number of single family properties for sale as of February 2009 was 124.  That is up 6% from last February which saw 117 on market.  Number under contract is 5 (same as last year.)  Total number sold was 7 (same as last year.)  Total number of properties that expired in February was 13, up 18% over last years 11.  Finally, the total number of new listings added to the market in February alone was 30.  That figure is up 50% from last year.

% of properties under contract in Lisle as of the end of the month:  4%.

The average median price over the past 13 months in Lisle is $345,000.

The months supply of inventory (MSI) for Lisle was 21.2 up 5% from last February.  The average over the past year is around 20.7.  This is extremely high an puts us in a VERY STRONG BUYERS MARKET. Keep in mind a healthy/normal MSI is 4-6 months.  We go above that and we start talking buyer’s market…..well, we are way above that.  We get into the 3 month and below range and we talk seller’s market.

Average days on market for under contract properties in Lisle has averaged out to 81.9 days over the past 13 months.  Average days on market in February this year was 179 up 141% from last February. This is trending upward very quickly.

Just keep in mind a few things:  the statistics I’m talking about are for Detached Single Family homes.  When I’m comparing to figured a year ago I’m comparing February to February.  Anytime I talk about average Days on Market I’m looking at the average for those properties that have gone under contract.  So, when numbers are up or down they are up or down from last February.

If you would like me to personalize a report for you just let me know.  I can look at just condos, just new construction, just resale and a bunch more.  This way you can see where you are at compared to these general statistics.  If you like what you’re reading I’d invite you to subscribe and also spread the word.  I’ll keep putting these up for you if you keep coming back.  Enjoy!!

Let’s take a look at Lisle, IL from January 2007-January 2009.  We will be looking at Median Sale Price, Days on Market, Months Supply of Inventory and the # of units For Sale, Sold, Under Contract and New to the market.

The Median Sale Price for Lisle in January 2009 was $315,000.  Actually that is exactly what it was two years ago in January 2007.  So we’re looking at a 0% change over the past few years.

Total # of units for sale in January 2009 was 120.  Compare that to 131 in January 2008 and 111 in January 2007 and you’re looking at an increase of 8%.  Total number of sold in the three January’s include 3 in 2009, 8 in 2008 and 8 in 2007.  A decrease of 62%.  Properties under contract have gone down 40% over the past 2 years.  With 6 under contract in ‘09, 9 in ‘08 and 10 properties under contract in ‘07.  Now let’s look at New to the market.  In 2009 we added 33 properties.  Compared to 28 in both 2008 and 2007.  We increased by 18%.  So, just like everywhere else, we are adding more properties to the market then putting them under contract or selling them.  Thus, inventory supply goes up and prices can go down.

The Months Supply of Inventory for Lisle in January 2009 was 15.7 months.  Much higher than the 8.4 we saw same time of year 2007.  An increase of 87%.

The Days on Market don’t look as bad.  We actually went down to 60 days compared to 80 in 2007.  Keep in mind that 2007 is based on 10 properties and 2009 only 6.  % of properties under contract are also down 44%.  We had 9% under contract for January 2007 and now we are looking at numbers closer to 5% in 2009.

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As always you can contact me with any thought or questions.  Enjoy the statistics.  Feel free to take advantage of my MLS search to view properties currently on the market.

Although Month Supply of Inventory is probably my favorite statistic I think the following chart is one of the most dramatic.  This takes a look at number of currently active listings, number of new listings and number of sold listings for each month in 2008 in Lisle, IL.

Okay.  Take a look at that.  Normally we want to see all of these lines a little closer together.  The fact that the new listings are outperforming the sold listings mean adding to the current inventory instead of taking it away.  Thus, we have a high months supply of inventory (MSI.)  Look at the summer market and you’ll see all numbers increase.  New listings go up which adds to the total number of active and the number of sold does go up but not enough.

Anytime anybody asks me why prices are decreasing in most areas of why it’s taking so long to get things sold I love to show this chart just because of the visual and how it explains it all.  Lisle is not the only area with this…it’s everywhere.

If you would like me to put something together for your specific area just let me know.  I enjoy the numbers as they tend not to lie.  Agents don’t lie they just perceive things differently.  If an agent puts a couple deals together they may think things are picking up when in fact they are not.  While on the other foot you could have an agent who has not sold anything in months while the rest of the market is on an upswing.  Good luck and bad luck are a little tougher to chart.  Please subscribe to the blog or let me know how I’m doing.  I’d love to hear your feedback.  Enjoy!

This is one of my favorite statistics to look at and get a true sense of what is going on out there.  Months Supply of Inventory is a great way to look at whether we are in a buyer’s or seller’s market.  Here is the overview for 2008 in Lisle:

When looking at Months Supply of Inventory for Lisle just keep in mind that a “normal/healthy” market is 4-6 months of inventory.  If we’re below that number, say 3 months of inventory, then we are in a strong seller’s market.  If we are above that numbers, say 12 months, then we are in a strong buyer’s market.  These numbers are way up all over the country not just here around Chicago.  Thus, we are in a very strong buyer’s market.

The average MSI (months supply of inventory) for Lisle is 18.5 months.  That’s high.  Even with Average Days on Market being lower than I expected this is actually higher than I thought.  A closer look at the graphic containing # of active, new and sold for Lisle will give you a good sense of why these numbers are so high.  We hit a high for Lisle with 44 months in July because of all the new listings coming on the market for the summer.  Notice the spring market with numbers like 6.8 in April and 6.9 in June.  This is when most of the buyers come out and start buying up the properties that just came on the market or were left over from the winter.  Make sense?

“Great time to buy” is what we’re all hearing and saying and this is why.  If you have any questions feel free to contact me.  If you don’t see your area and would like to know your Months Supply of Inventory I’d love to put something together.  Just ask.  If you like the statistics and would like to subscribe to this blog fell free….or if you’d just like to let me kow what you’re thinking that’s cool too.  Enjoy!

Wondering what the average and median sale price of homes were in Lisle, IL for 2008?  Look no further.  I’m in the middle of my year in review and this is one of the vital statistics.  These statistics, and all of my stats, are based on DETACHED SINGLE FAMILY HOMES.  Take a look and we’ll discuss:

The numbers are tougher to fit into the chart compared to other categories so we’ll lay it out here:

• Average Price in Lisle for January (blue) was $459,000 and the median price (red) was $422,000.  That’s a $37,000 difference.  Median price was 92% of average price in Lisle.  Based on 8 total sales for the month.
• Average Price for for February was $350,000 and the median price was $329,000.  A $21,000 difference.  Median price was 94% of average price.  Based on 7 sales.
• Average price for March was $388,000 and the median price was $428,000.  A $40,000 difference in favor of median.  Median price was 110% of average price.  Based on 5 sales.
• Average price for April was $481,000 and the median price was $392,000.  An $89,000 difference.  Median price was 81% of the average price.  Based on 11 sales.
• Average price for May was $302,000 and the median price was $272,000.  A difference of $30,000.  Median price was 90% of the average price.  Based on 13 sales.
• Average price for June was $325,000 and the median price was $300,000.  A difference of $25,000.  Median price was 92% of average price.  Based on 21 sales.
• Average price for July was $398,000 and the median price was $392,000.  A difference of $6,000.  Median price was 98% of average price.  Based on 21 sales.
• Average price for August was $321,000 and the median price was $306,000.  A difference of $15,000.  Median price was 95% of average price.  Based on 4 sales.  Wow!
• Average price for September was $369K and the median price was $372K.  A difference of $3K.  Median price was 101% of average price.  Based on 12 sales.
• Average price for October was $425K and the median price was $361K.  A difference of $64K.  Median price was 85% of average price.  Based on 8 sales.
• Average price for November was $335K and the median price was $335K.  A difference of $0.  Median price was 100% of average price.  Based on 3 sales.
• Average price for December was $334K and the median price was $315K.  A difference of $19K.  Median price was 94% of the average price.  Based on 2 sales.

I’d pay attention to the spring/summer months as they have a bigger sampling.  Take price into account with Days on Market (DOM,) Months Supply of Inventory (MSI,) and # of active, new and sold listings and you get a pretty extensive look at the Lisle market for 2008.  Let me know if you have any questions.  If you like the blog feel free to sign up for feed updates or email updates in the top right corner.  Enjoy!

Here is a month to month look into the number of days on market of the average detached single family home sold in Lisle, IL for 2008:

To be honest I thought these numbers were going to be higher.  January through March we saw days on market in the mid to high 70’s.  That was also the case for the most part in May, June, September, October & December.  Now granted we look at a month like December where only 2 properties Closed and you have to take it all with a grain of salt.  But overall it looks like DOM (days on market) for the year averaged out to 75.5 days.  So we’re looking at 2.5 months.  I like that there was no difference between the “slower” winter market and the “hotter” spring/summer market.  Maybe this will help people next winter if they are looking to put their home on the market.

Now, take this into account in combination with the # of Active, New and Closed listings and you get a more complete picture.  I also like to look at the Median vs. Average Sales prices of home in any city I’m comparing.  As far as the overall mood of whether it is a buyer or seller’s market my favorite is the Monthly Supply of Inventory also known loosely as Absorption Rate.

Let me know if you have any questions.  As always I invite you to subscribe to this blog is you are interest in statistics regarding the housing market.  If I don’t get your city town and you are in Du Page County just drop me a note and I’ll put something together for you.  Enjoy!

Beautiful photo of the Morton Arboretum in Lisle, IL. My hometown. The Arboretum Village as they call it. Whoever they are. Love the way this photo captures how winter, while cold and getting long, can make you stop and stare. The Morton Arboretum is just off of I-88 in this Western Suburb of Chicago. In all my years growing up here in Lisle I admit I did not take advantage of the Arboretum as much as I should have. Great place to spend a Saturday, take the kids, go for a walk but most importantly take some wonderful photos. Last week I showed you my favorite spot in Naperville. This is my favorite spot in Lisle. Have a great weekend!! Stay warm!

Here’s a closer look at the Lisle, IL 60532 Market Update. As usual we are looking at the past 6 months. Active Listings along with Sold Properties and Properties Under Contract. The total # of units for each category, the market time in days, the Median Sales Price vs. the Average Sales Price as well as the High & Low list price or sale price for fun. The first graphic will be for Type 1 properties and Type 2 will be represented in the second graphic. I used to add in absorption rate but decided to take that out and put it in its own post. Felt it was important enough to emphasize alone. I can always break this down for any specific neighborhood in or around Chicago, all you have to do is ask and I’ll put it together for you. We’re also not restricted to pull data from the past 6 months, we can go further out of closer to today’s date. Let me know how I can help. Enjoy!
TYPE 1:

TYPE 2: