2021 Market Update Week 10

2021 market update week 10.  New listings of single family homes are up again.  218 this week compared to 190 the week before.  This is helping but we need to double this and also have a wider range of prices.

Closing listings of single family homes are down.  177 this week compared to 213 the week before.  They will increase as we head 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 26 $160,000-$886,400

            Closed-30 $55,700-$600,000

Bolingbrook-New 16 $199,900-$469,000

                    Closed-11 $212,000-$529,900

Geneva-New 9 $269,900-$670,000

              Closed-12 $240,000-$755,689

Naperville-New 56 $300,000-$4,700,000

                 Closed-33 $270,000-$1,843,000

Plainfield-New 29 $210,000-$565,000

                Closed-15 $236,000-$650,000

St Charles/Campton Hills-

                New 17 $239,000-$795,000

                Closed-12 $175,000-$1,300,000

Yorkville-New 14 $189,900-$629,495

               Closed-12 $140,000-$445,000

The median list price this week is $365,000 and the median sales price is $330,000.

Contracts accepted this week

Contracts accepted this week are up.  289 this week compared to 260 the week before.  With 218 new listings this week that is not replacing how many went off the market this week.  We are still in a seller’s market.  Now is the time to sell!

Look at the communities seller’s accepted the most contracts this week:

Aurora-33                                   Bolingbrook-12

Geneva-17                                 Naperville-69

Oswego-16                                 Plainfield-34

St Charles/Campton Hills-21      West Chicago-13

Yorkville-12

No short sales accepted by seller’s this week.  That does not mean that there are none available.  That is 2 weeks in a row.

Seller’s accepted contracts that are contingent on the buyer closing on their current home.  3 with a kick-out clause of 72 hours, 9 with 48 hours and 1 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home.  3 with a kick-out clause of 48 hours.

2021 market update by the month

Month                     New     Closed     Contracts accepted

January                    543           649               829

February                  561           604               778

March                      408           390               549

Totals                    1512          1643             2156

Check back with us every Saturday for the update.  At the end of each month we will also compare to 2020 and 2019 so you can get an idea on how this year is going compared to the 2 previous years.

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.

It is a great time to sell.  There is not enough homes on the market for the amount of buyers out there looking.  Prices are rising.  Request a home valuation so we can show you what your home is worth in today’s market.  We will provide you with a net proceeds that shows you the expenses to sell.  This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year?  You might want to buy your first home or maybe a home with a little more room.  Get  2 years of tax returns, all your income and debt together and contact a loan officer to get prequalified.  They will provide you with a letter showing what type of loan and what price works out for you.  When you find a home we will send this with an offer to show the seller’s you do qualify for their home.  If you wait to find a home it will be too late.  Homes are selling fast right now.  You need to be ready.  If it is older than 30 days you will need to get it updated.

Resources to check out:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• Illinois homeowner assistance and some communities
• IDHA programs

It might be worth your time to check the different programs.  There is 2 new IDHA programs that one might help out with student debt and the other one if you live there for at least 5 years you might not have to pay it back.

We have many brochures we can email you on Radon, Lead-based paint, understanding the costs and information about special service areas.

2021 Market Update Week 10.  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