2021 Real Estate Market Update Week 20
2021 real estate market update week 20. New listings of single family homes are down. 267 this week compared to 294 the week before. This is making it even harder for buyers. Right now they are competing with multiple offer situations. This increases their competition.
Closed listings of single family homes are up. 299 this week compared to 266 the week before. We are getting closer to the end of the month when most buyers want to close.
Take a look at the communities with the most activity this week:
Aurora-New 34 $109,000-$739,900
Closed-37 $131,500-$593,000
Batavia-New 8 $346,000-$519,000
Closed-12 $146,000-$650,000
Bolingbrook-New 12 $209,900-$545,000
Closed-17 $185,000-$502,350
Geneva-New 14 $239,500-$749,000
Closed-13 $240,000-$907,000
Montgomery-New 10 $169,900-$329,000
Closed-7 $199,000-$325,000
Naperville-New 63 $324,900-$1,350,000
Closed-58 $300,000-$1,450,000
Oswego-New 7 $310,000-$500,000
Closed-20 $215,000-$500,000
Plainfield-New 31 $234,000-$758,400
Closed-36 $250,000-$610,000
St Charles/Campton Hills-
New 28 $189,900-$1,995,000
Closed-32 $180,000-$1,075,000
West Chicago-New 8 $250,000-$699,999
Closed-11 $190,000-$515,000
Yorkville-New 8 $257,500-$1,150,000
Closed-14 $205,000-$685,000
Median list price this week $369,054 compared to last week $375,000
Median closed price this week $358,000 compared to last week $360,000
Contracts accepted this week
Contracts accepted this week were up. 322 this week compared to 290 the week before. Right now it almost makes you feel like you won the lottery when you get your offer accepted with all the competition that is out there.
Look at the communities that sellers accepted the most contracts:
Aurora-59 Bolingbrook-23
Geneva-17 Montgomery-11
Naperville-52 Oswego-17
Plainfield-33 Plano-12
St Charles/ Campton Hills-20 Sycamore-10
West Chicago-14
1 short sale was accepted this week on a single family home. It was in Naperville. Now it will be submitted to the lender to see if they will also accept.
Sellers accepted contracts that are contingent on the buyer closing on their current home. 6 with a kick-out clause of 72 hours, 1 with 48 hours and 2 with 24 hours.
Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours and also 1 with 48 hours.
2021 real estate market update by the month
Month New Closed Contracts accepted
January 543 649 829
February 561 604 778
March 993 1099 1455
April 1006 926 1387
May 797 843 952
Totals 3900 4121 5401
Closed is actual numbers. New and contracts accepted can not be relied on. Some new listings can be listed as new again. Contracts accepted, if they do not make it past the home inspection and attorney review, can go back on the market and get another contract.
So far March has been the best month this year for closed homes.
Check back with us every Saturday for the market update. Next week we will compare to 2020 and 2019. We do that at the end of every month so you can see how this year is going.
Contact us
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.
This is the best time to sell if you are thinking about it anytime in the near future. Prices are increasing with the continued low inventory of homes for sale.
Request a home valuation to see what your home is worth in today’s market. I think you will be be very pleasantly surprised. Tell us about your home and what you have updated recently. We will provide you with a net proceeds that shows you the expenses to sell. It will be updated when an offer comes in and we know all the terms.
Are you thinking about buying a home this year? Plan way in advance. You are up against a lot of competition. You might need to put offers on a few homes before you get your offer accepted You need to work with a lender that will pre approve you subject to finding the home. It will take more than just a phone call. You will need to submit all your financial information so make sure you have all that together.
Resources:
- Types of loans and the process
- VA loans and the process
- Current interest rates
- Down payment assistance
- IDHA programs
We can make recommendations for loan officers, real estate attorneys and home inspectors that you can choose from if you don’t know someone already.
2021 real estate market update week 20. Have a great week!
Kristine Heiman-Designate Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101