I just started working with a woman looking for a condo in Naperville for her and her son. Back in early July I blogged about Naperville’s house market in “Naperville’s 60565 Zip Code Continues to Have Strongest House Market”
An area’s condo market isn’t necessarily the same as its house market. That’s especially true this year with financing much tighter for condos and townhouses than houses.
Looking at the median price for Naperville condos over the past year compared with the previous year shows one similarity with Naperville houses, zip code 60565 (shown left in white) did the best for both.* In fact, while the median price for houses only dropped 4.1%, the median price for condos in 60565 actually rose 6.8%!
In zip code 60563 where median prices fell the most for houses over the past year, the median price for condos only fell 2%, better than in 60540 where the median condo price fell 6.6% and in 60564 which dropped 8.5%.
*Based on Midwest Real Estate Data LLC (MRED) Data.
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