Dennis Rodkin's Deal Estate article on a home in Naperville that recently sold for $3,089,500 after years on the market prompted me to take a brief look at the state of the higher-end housing market in Naperville. Rodkin reported that transaction as the highest selling price since 2008.
There are currently 26 homes for sale in Naperville priced at $1,500,000 or more. A dozen of those homes are listed for prices ranging from $2.1M to $4.375M. According to recent sales data at Redfin, there has been only one sale this year in the $1.5M and up range – a home that sold for $2.1M after 4 years on the market and a series of price reductions.
Naperville's many attractions as a place to live are undeniable. But the most affluent home buyers appear to be saying a resounding "nay" to Naperville.