Market Update Fox Valley October 7 2017. A jump in new listings this week! 301 this week compared to 273 last week. That is great for buyers that are waiting for new homes to come on the market to go and view. Let’s keep them coming!
Closed homes this week were down. 208 this week compared to 260 last week. This was to be expected with the beginning of the month. You will see more at the end of the month. 208 is still a good number for the start of a month.
The chart above shows you the communities in the Fox Valley that had activity in our market update. It shows New listings, how many and the minimum and maximum price listed. It also shows you the closed homes, how many and the minimum and maximum price closed in each community. The communities with the most activity this week:
Aurora-New 32 Closed 34
Batavia-New 7 Closed 11
Bolingbrook-New 26 Closed 19
Geneva-New 10 Closed 8
Montgomery-New 12 Closed 8
Naperville-New 63 Closed 24
Oswego-New 15 Closed 12
Plainfield-New 42 Closed 27
St Charles-New 28 Closed 15
If you are an investor looking for something under $100,000 you can see above there are not too many listed this week. If you are a home owner thinking about selling take a look at your community and see the sold homes and the price range. Prices have definitely gone up.
Market Update Fox Valley October 7 2017-Accepted Contracts
Market Update Fox Valley October 7 2017-Accepted Contracts. Accepted contracts this week were right on target with last week. 216 this week compared to 217 last week. The market is continuing to be consistent. That is a good thing!
There were 8 short sales accepted this week by sellers. Now they will go on to see if the lender will approve as accepted or if they will change it to what they need. Some of buyers don’t understand that the listed price is not what the bank told the agent to list it for.
Contracts were accepted by sellers with a contingency that the buyer needs to close on their current home before they can close theirs. The buyers already have accepted a contract on their home. 4 of them with a kick-out clause of 72 hours and 5 with a 48 hour kick-out clause.
Sellers also accepted contracts this week that the buyer still needs to sell their home. The buyers do not have a contract on their home yet. They might or might not already have their home on the market. 1 with a kick-out clause of 72 hours, 5 with 48 hours and 3 with a 24 hour kick-out clause.
Contact us with all of your real estate questions. If you are thinking about selling your home we will do a home valuation for you to let you know what it is worth in the current market. Let you know what you need to do to get your home market ready.
If you are thinking about moving in the next 6 months now is the time to get in touch with a lender to see if you need to work on any credit issues or bring up your score to get the best interest rate. We can recommend loan officers that we have worked with successfully if you don’t know who to contact. You can also go to CFPB to learn more about the process. Down payment resource is another place to go to.
Search for homes anytime whether you are looking to purchase or sell. You can keep an eye on the market. To get the price and terms that are best we will explain the process and what you need to do and not do. We make it our business to find the perfect fit for your needs.
Call us at 630-503-6555 Jeffery Szymczak-Broker ext 104, Bobby Burson-Broker ext 105 or Kristine Heiman-Managing Broker ext 101. Have a great week! Best Homes Fox Valley. Market Update Fox Valley October 7 2017