February 6, 2017

Rising Property Values in Naperville

‘Sold’ and ‘For Sale’ signs popping up in town are one indicator of the strong housing market that’s currently seen in Naperville.

That’s thanks in part to the rising property values that homeowners are experiencing.

“Naperville is a little above average- the fantastic school system, the shopping, the train, it demands a little bit more of appreciation and value to the buyers and sellers out there so that’s why we’re seeing a little above the national averages,” said Dan Firks, Real Estate Broker with Keller Williams.

That means now’s a perfect time to act if you’re thinking about buying or selling in the area.

“For people who are looking to purchase this is still a pretty decent value considering what you get for a home here, cost per square footage, the amenities that are in the community. As for a seller, I do believe the increase in the values which is minimal, but it’s still an increase, that we are in a good place,” said Elizabeth Gretz, Residential Broker with Coldwell Banker.

If you’re looking to buy there are a few things to consider- one is which area to settle in. While Naperville’s amenities are spread all throughout the city, the choice between counties and townships could save you a few dollars in your property taxes.

“South Naperville there are parts of Wheatland Township and that is the unincorporated parts of Naperville and those taxes tend to be on the lower side,” added Firks.

And so far the mortgage rate climate is holding steady at about four percent.

“The mortgage rates are still good, there was a little bit of a bump after the election and for years we’ve been told that they are going to be rising, well so far, no. So it remains to be seen what’s going to happen but there’s been nothing that’s been dramatic that we’ve heard and I think we just have to wait and see, but at this point there’s still really great rates out here to be had,” said Gretz.

Though property values have risen in Naperville, sellers can still work to make sure they stay competitive.

“Kitchens provide a nice return, well done basements provide a nice return. It’s really just all about making it appealing for today’s buyer and today’s buyer is a pretty savvy person who likes things to be in good shape,” added Gretz.

Naperville News 17’s Alyssa Bochenek reports.

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