Your DuPage County Real Estate Expert: Market Insights and How I Can Help You Succeed in 2024
As a longtime resident and real estate expert in DuPage County, I’ve had the privilege of helping countless families, investors, and first-time buyers navigate this vibrant market. Whether you’re buying, selling, or simply curious about local trends, I’m here to guide you with insights you can trust and a service that’s tailored to your needs. With the real estate landscape constantly shifting, staying informed about the latest market trends is crucial—and that’s where I come in.
Let’s dive into the most current stats and trends in the DuPage County real estate market so you can make smart, informed decisions.
DuPage County Real Estate: A Quick Snapshot
Median Home Price (October 2024):
$372,000. This represents a modest increase of about 2.6% year-over-year, reflecting the area's consistent demand. Homes here continue to hold their value thanks to DuPage’s combination of suburban charm, top-rated schools, and proximity to Chicago.
Homes Sold (October 2024):
In October, 1,000 homes sold in DuPage, which is a slight decrease of 5% compared to last year. With rising mortgage rates, buyers are a little more cautious, but there’s still strong interest in well-priced homes. As your local expert, I can help you price your property right to ensure it attracts buyers in this climate.
Inventory Levels:
Available listings have dropped 6% year-over-year, resulting in fewer options for buyers and increased competition for desirable properties. If you’ve been thinking about selling, now could be a prime time to list your home before inventory tightens even more.
Days on Market:
Homes in DuPage are selling a bit slower, with an average of 45 days on the market compared to 42 days last year. While it’s a slight uptick, it’s important to price your home correctly and ensure it’s in top condition to stand out in the market. That’s where I come in—I can provide expert advice on staging and marketing your home to appeal to today’s buyers.
Breaking Down Market Segments
- Single-Family Homes:
DuPage County remains a haven for families, and the single-family home market is particularly competitive. The average price for single-family homes has increased by 3.1% to around $415,000. This reflects steady demand in areas like Naperville, Wheaton, and Hinsdale, all of which offer excellent schools and family-friendly amenities. - Condos & Townhomes:
More buyers are considering condos and townhomes for their affordability and lower maintenance costs. If you're looking for a more manageable home or investment opportunity, this segment offers great options at an average price of $235,000—up 1.3% from last year. - Luxury Market (Homes Above $800K):
High-end homes in DuPage County are seeing a healthy surge in demand. Areas like Oak Brook, Hinsdale, and Naperville have experienced significant price increases of up to 5.2% year-over-year. If you're considering a luxury home, now may be a good time to explore these markets before demand continues to push prices higher.
Mortgage Rates: What You Need to Know
As of November 2024, mortgage rates are hovering around 7.5% for a 30-year fixed loan. For many buyers, this has impacted their purchasing power, especially for mid-range homes. However, with my in-depth knowledge of the market, I can connect you with trusted lenders and help you navigate the complexities of financing, whether you're a first-time buyer or a seasoned investor.
What’s Driving the DuPage County Market?
Several factors continue to make DuPage County one of the most desirable areas in the Chicago suburbs:
- Top-Rated Schools:
With some of the best public schools in the state, including those in Naperville and Downers Grove, it’s no wonder families continue to flock to DuPage. If you're looking to buy a home in a highly-ranked school district, I can help you find the perfect match for your family’s needs. - Proximity to Chicago:
Easy access to downtown Chicago via Metra and major highways keeps DuPage attractive for commuters. But it’s also a great place to escape the hustle and bustle of the city, offering a balanced lifestyle. - Thriving Job Market:
DuPage County is home to major employers in healthcare, tech, and business sectors. Whether you're relocating for work or just want to live closer to job opportunities, I can provide insights into the best neighborhoods for your career. - Community Amenities:
From the charming downtown areas in Wheaton and Elmhurst to the luxury shopping and dining options in Oak Brook, DuPage offers a wealth of amenities that enhance quality of life. I know this area like the back of my hand and can show you all the hidden gems that make DuPage a great place to live.
What’s Next for the DuPage County Market?
While the market is experiencing some shifts, DuPage County remains a strong and stable place to invest. Here’s what to expect moving forward:
- Price Appreciation:
While the pace of price growth may slow, the underlying demand and limited inventory will continue to push home values up, especially in the more desirable areas. - Suburban Living Demand:
With flexible work arrangements and more people working from home, suburban areas like DuPage are seeing sustained demand. Many buyers are seeking more space and the quieter lifestyle DuPage offers, making it a great time to buy or sell. - New Construction Boom:
If you're looking for a home that’s brand new, there’s been a significant increase in new construction projects around Lisle, Naperville, and Downers Grove. I can help you explore both new developments and resales to find the perfect fit.
Let’s Make Your Real Estate Goals a Reality
Whether you’re buying or selling, you need a real estate agent who not only understands the market but is also deeply invested in your success. As a local expert in DuPage County, I have the knowledge, experience, and commitment to guide you through every step of the process.
When you work with me, you're not just getting a transaction—I’m here to ensure you make the right moves for your future. From helping you price your home competitively to finding the perfect property that suits your needs, I’m your dedicated partner in making your real estate dreams a reality.
Let’s connect and start making your DuPage County real estate goals happen today. Whether you have questions or are ready to take the next step, I’m here to help. Reach out to me for personalized advice and tailored solutions that will set you up for success in this dynamic market.
Your DuPage County Real Estate Expert,
Frank “Campo” Campobasso
Ready to Start?
Call me today at 773-425-6265 or send me a text message to schedule a consultation. Let's make 2024 your year in DuPage County real estate!
With over 20 years of unparalleled experience in the real estate industry, Frank Campobasso is the expert you want on your side. A true master in the art of buying, selling, and investing, Frank is known for his proven ability to market single-family homes, townhomes, condos, multi-unit buildings, and high-value investment properties. His reputation for delivering exceptional results has made him a trusted name in the business, with a track record of selling homes quickly and for top dollar.
Frank's expertise goes beyond simply listing properties—he specializes in pricing, staging, and showcasing homes to perfection, ensuring they stand out in even the most competitive markets. His unmatched knowledge of local trends and strategic approach have earned him widespread recognition, with features in top real estate magazines, articles, and radio programs.
When you work with Frank, you’re not just getting a real estate agent; you’re partnering with a seasoned professional who’s dedicated to your success. Ready to sell your home with the expertise it deserves? Call Frank Campobasso today at 773-425-6265 to schedule your personalized in-home consultation. Experience the difference of working with a true real estate expert.
