Market update Fox Valley week 29
Market update Fox Valley week 29. New listings of single family homes are down 17.89% this week. 257 this week compared to 313 the week before. We are going in the wrong directions. Inventory is extremely low already. July usually is a slower month with people going on vacation. This year so far has not been normal and I was hoping people would continue to put their homes on the market even in July. If you are thinking about selling this year do not pass up this great time to sell.
Closed listings of single family homes increased by 60.80% this week.320 this week compared to 199 the week before. We are getting closer to the end of the month when most buyers want to close so they should continue to increase.
Take a look at the communities with the most activity this week:
Aurora-New 34 $67,000-$750,000
Closed-33 $97,938-$385,000
Batavia-New $215,000-$729,000
Closed-10 $275,000-$722,202
Bolingbrook-New 7 $179,853-$409,900
Closed-27 $197,000-$405,000
Geneva-New 16 $275,000-$2,200,000
Closed-12 $347,500-$1,145,000
Montgomery-New 8 $109,900-$285,000
Closed-15 $80,000-$319,900
Naperville-New 64 $267,800-$2,449,000
Closed-65 $298,000-$2,100,000
Oswego-New 9 $254,900-$564,900
Closed-25 $82,500-$625,000
Plainfield-New 25 $214,900-$599,000
Closed-42 $170,000-$460,000
St Charles/Campton Hills-
New 21 $230,000-$1,890,000
Closed-19 $246,000-$1,225,000
West Chicago-New 13 $175,000-$449,500
Closed-8 $145,000-$395,000
Yorkville-New 9 $189,900-$424,900
Closed-12 $115,000-$510,000
Contracts accepted this week
Contracts accepted this week are up 18.18%. 403 this week compared to 341 the week before. These numbers would be even higher if more listings were on the market.
Take a look at the communities that seller’s accepted the most contracts:
Aurora-59 Bolingbrook-29
Geneva-13 Montgomery-21
Naperville-72 Oswego-17
Plainfield-49 St Chalres/Campton Hills-29
Sycamore-16 West Chicago-14
Yorkville-17
3 short sales were accepted by seller’s this week. 1 each in Aurora, Montgomery and West Chicago. They will now be submitted to the lender to see if they will also accept.
Seller’s accepted contracts that are contingent on the buyer’s closing on their current home. 17 with a kick-out clause of 72 hours, 19 with 48 hours and 3 with 24 hours.
Also, seller’s accepted contracts that are contingent on the buyer’s selling and closing on their current home. 3 with a kick-out clause of 72 hours, 9 with 48 hours and 1 with 24 hours.
Seller’s feel confident with the market,
2020 by the month
Month New Closed Contracts accepted
January 1,105 566 858
February 1,267 529 1,024
March 1,186 707 1,079
April 648 786 775
May 1,352 1,010 1,444
June 1,232 908 1,534
July 848 887 1,134
Totals 7,638 5,393 7,848
Check back with us every Saturday for the market update Fox Valley. At the end of each month we will compare 2020 to 2019 and 2018 so you can see how things compare.
Contact us
Call us at 630-503-6555 for all your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.
Thinking about selling this year? Now is the best time to sell. Let us update the current value of your home and provide you with a net proceeds. This shows you an estimate of expenses to sell so you can see where you are at. We will update this when an offer comes in and we know all the terms.
If you are thinking about buying or if the end of your lease is coming up, contact a loan officer to see if you are ready to buy a home. They will provide you with a letter that shows what type of loan and the price that will work out best for you. This letter will go with an offer when you find the right home.
Check out some great resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois Homeowner assistance and some community assistance
We will guide you through the process and can give you recommendations for a real estate attorney, home inspectors and loan officers.
Market update Fox Valley week 29. Have a great week!
Kristine Heiman, Designated Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101