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Lisle Single Family Home Prices Fall 33.11%

Lisle, IL Single  Home Prices Fall 33.11% in November 2013.

The November 2013 median sold price for single family homes sold in Lisle, IL has depreciated -33.11% when comparing November 2013 to November 2012 (year over year). The median price for single family homes sold in Lisle, IL has depreciated -13.99% when comparing November 2013 to October 2013 (month over month).

The median list price of single family homes for sale in Lisle during November was $259,900. The median sold price in Lisle during November was $247,500.

While the median home price movement is a key indicator in the health of the Lisle real estate market, it is far from the only driving factor. Additionally, with so few detached single family homes sold per month in Lisle, the medians can swing quite drastically. If you are interested in home prices for your subdivision or for your home, contact Bowers Realty Group at 630-712-1921.

Whether you are a home owner in Lisle or a potential buyer interested in homes for sale in Lisle, IL you are undoubtedly interested in how the Lisle real estate market is doing. The only way you can truly know how the Lisle real estate market is doing is to be informed.

In this post, we display some of the key real estate statistics for November 2013. The following statistics include only single family homes in Lisle. The statistics do not include condos, townhomes, or multi-unit properties because they are a separate market from detached single family homes. Bowers Realty Group's website offers graphical representations of the statistics and a more comprehensive explanation of how the real estate market is doing in Lisle, including explanations of how the key metrics compare to the previous 13 months.

Homes Listed vs. Homes Sold

There were 180 detached single family homes listed for sale in Lisle during November 2013, with only 23 of those being new listings that went on the market in November. Of those 180 total homes listed, only 7 homes were sold in November. That means only 3.9% of the homes that were on the market for sale at some point in November actually sold.

Market Composition

Of the 180 homes listed for sale in Lisle during November, 87.2% were Traditional sales, 7.2% were Short Sales, and 5.6% were foreclosures. Compared to last year, that is an increase in Traditional sales over November 2012 of 10.4%, which means there is a smaller percentage of distressed properties on the market. This leads to higher home prices for the entire market.

Are homes selling quickly in Lisle?

The average for homes that sold in November 2013 was 101 days on the market. Do not assume that your home will sell in 101 days!!! The average number of days homes in Lisle are on the market before they sell varies significantly from month to month. In fact, it varies drastically from listing to listing. There are many factors that substantially impact how quickly a home sells, which is another topic in itself. Your home can sell much more quickly than the average. If you are interested in how quickly your home can sell, contact Bowers Realty Group at 630-712-1921.

Is it a Buyers' Market or a Sellers' Market in Lisle?

It is currently a Buyers' Market in Lisle. To learn about how that is determined or where the signals for next month are pointing, review the report section of Bowers Realty Group's website, www.teambowersrealtors.com.

The above statistics were calculated by Bowers Realty Group based on information directly from the MLS (Multiple Listing Service), Midwest Real Estate Data LLC. For more information about selling your house in Lisle or buying a home in Lisle, contact Bowers Realty Group at 630-712-1921.

The accuracy of all information, regardless of source, is deemed reliable but not guaranteed.



This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

George P December 03, 2013 at 12:28 PM
How does this drastic drop in Lisle single family median home sales price compare to the numbers in surrounding communities?
Maria December 03, 2013 at 12:41 PM
On average, sold home prices in Glen Ellyn, IL have appreciated (risen) 1.63% when comparing November 2013 to November 2012 (year over year). On average, sold home prices in Glen Ellyn, IL have appreciated (risen) 29.14% when comparing November 2013 to October 2013 (month over month).
Maria December 03, 2013 at 12:43 PM
On average, sold home prices in Naperville, IL have appreciated (risen) 3.45% when comparing November 2013 to November 2012 (year over year). On average, sold home prices in Naperville, IL have depreciated (fallen) -8.67% when comparing November 2013 to October 2013 (month over month).
Maria December 03, 2013 at 12:44 PM
On average, sold home prices in Downers Grove, IL have remained constant when comparing November 2013 to November 2012 (year over year). On average, sold home prices in Downers Grove, IL have depreciated (fallen) -9.66% when comparing November 2013 to October 2013 (month over month).
Maria December 03, 2013 at 12:46 PM
On average, sold home prices in Wheaton, IL have appreciated (risen) 4.76% when comparing November 2013 to November 2012 (year over year). On average, sold home prices in Wheaton, IL have appreciated (risen) 9.54% when comparing November 2013 to October 2013 (month over month).
Jon December 05, 2013 at 06:52 PM
It has nothing to do with the booming downtown environment and redeveloped redevelopment, the village board long term plan and execution of such nor that pesky issue of levee maintenance. I've heard the board would like to replace "The Patch" with Pravda, as in the "Wizard of Oz": ".....pay no attention to that Levee in the back of the village...."
Mr.Ethics December 05, 2013 at 08:47 PM
So true Jon, and if the levee break is the west bank next time a whole new batch of homes get hit. Beware of those listings in the flood plain. Learn about the 50% rule.
Dick December 06, 2013 at 05:39 PM
With a reputation for flooding (and no plan to fix it), contaminated water, corporate handouts and high property taxes, of course home prices are falling in Lisle. We can thank Joe Broda and his backroom/backwards politics. Last thing we need is another TIF to jack up taxes even more.
JR December 07, 2013 at 10:47 AM
Down 33% as compared to last year? Baloney. Show me the stats as to where you came up with that percentage. The author did not provide hard numbers nor a source. Did I miss something this past year but I would not believe the flood area on the west side of town is responsible for this unsubstantiated drop in value. Did we become Detroit this past year? Permits for knocking down homes and new home construction has been on the rise.
Jon December 07, 2013 at 10:56 AM
Can't help but think Joe keeps looking out of his back yard saying..."Missed Naperville by that one darn street".
JR December 07, 2013 at 11:38 AM
I did further research on my home in Lisle. I used Zillow as a source as many do in real estate. From Oct 2012 to Oct 2013 year over year, my home appreciated $8000 or 3.7%. Subtract for error at a reasonable percentage and you still have an acceptable appreciation. My home surely did not depreciate 5, 10, 15 20 or 33% as the author suggests! Now if you look above, at the "prompted" responses from the author, the percentage value I researched is in line with those surrounding communities. Folks do your homework before accepting suspect articles like we have here.
George P December 07, 2013 at 12:45 PM
For the purposes of comparison with surrounding communities Zillows home value index year over year change is consistent with the data trend posted by Bowers Realty. Zillow shows GlenEllyn, Naperville, Wheaton, Downers Grove and Woodridge all with 3-4 times more increase in percentage in the change in home value index. Lisle is at 3.3%, while all the surrounding communities are 9-11% increase. WHY?
Bowers Realty Group - Lisle, IL December 07, 2013 at 03:18 PM
JR: You asked about the source of the information. As mentioned in the post, the above statistics were calculated by Bowers Realty Group based on information directly from the MLS (Multiple Listing Service), Midwest Real Estate Data LLC. The MLS is the system that every Realtor and Appraiser is required to use to list, sell, and appraise homes for sale in Illinois. Bowers Realty Group receives the raw data from the MLS and compiles it monthly. The statistics posted are accurate for the town of Lisle; however, with the few amount of sales per month in Lisle, I can understand how the numbers as a town appear to show drastic concerning changes. It’s important to realize that each property is different and each subdivision is different and needs to be researched and given statistics per each individual property. Frequently, individual properties or even subdivisions appreciate while the town as a whole shows depreciation and vice versa. The statistics provided are for the town as a whole, not an individual property. If you would like a more personal view of how your individual property value is fluctuating month over month, year over year, etc; feel free to contact us directly and we will compile those stats for you. (Free of charge of course.)
JR December 08, 2013 at 10:54 AM
This is the qualifying statement you should have made at the beginning of your article. By not doing so, your blog article implies every home in Lisle has depreciated 33%. You stated it is important for me to realize the variables involved in your computation. Excuse me I am fully aware of the variables. That was my point to you, pointing out that you were not taking into consideration those variables by making a general sweeping statement. Please in the future, define all aspects of an "attention" grabbing article such as this one.

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