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Darien Single Family Home Prices Fall 5.04%

Darien, IL Single Family Home Prices Fall 5.04% in November 2013.

The November 2013 median sold price for single family homes sold in Darien, IL has depreciated -5.04% when comparing November 2013 to November 2012 (year over year). The median price for single family homes sold in Darien, IL has depreciated -2.67% when comparing November 2013 to October 2013 (month over month).

The median list price of single family homes for sale in Darien during November was $302,000. The median sold price in Darien during November was $292,000.

While the median home price movement is a key indicator in the health of the Darien real estate market, it is far from the only driving factor. Whether you are a home owner in Darien or a potential buyer interested in homes for sale in Darien, IL you are undoubtedly interested in how the Darien real estate market is doing. The only way you can truly know how the Darien 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 Darien. 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 Darien, including explanations of how the key metrics compare to the previous 13 months.

Homes Listed vs. Homes Sold

There were 113 detached single family homes listed for sale in Darien during November 2013, with only 16 of those being new listings that went on the market in November. Of those 113 total homes listed, only 10 homes were sold in November. That means only 8.8% of the homes that were on the market for sale at some point in November actually sold.

Market Composition

Of the 113 homes listed for sale in Darien during November, 81.4% were Traditional sales, 8% were Short Sales, and 10.6% were foreclosures. Compared to last year, that is an increase in Traditional sales over November 2012 of 12.8%, 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 Darien?

The average for homes that sold in November 2013 was 120 days on the market. Do not assume that your home will sell in 120 days!!! The average number of days homes in Darien 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 Darien?

It is currently a Buyers' Market in Darien. 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 Darien or buying a home in Darien, 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.

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