2021 Real Estate Market Update Week 14

2021 real estate market update week 14.  New listings on single family homes are up significantly.  260 this week compared to 192 the week before.  I hope this continues.  It is a great time to be a seller!  Homes are selling quickly are prices are way up.

Closings on single family homes are down.  192 this week compared to 274 the week before.  It is the beginning of the month so this is to be expected.  They will go up as we get 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 24 $125,000-$850,000

             Closed-26 $88,000-$585,000

Batavia-New 15 $125,000-$965,000

              Closed-8 $189,900-$706,000

Bolingbrook-New 14 $187,500-$1,125,000

                      Closed-12 $221,000-$465,000

Geneva-New 11 $249,000-$739,500

              Closed-12 $265,000-$825,000

Montgomery-New 12 $189,900-$329,990

                       Closed-5 $205,000-$315,000

Naperville-New 67 $269,000-$1,950,000

                   Closed-38 $275,000-$1,375,000

Oswego-New 22 $254,900-$999,900

               Closed-14 $175,000-$475,000

Plainfield-New 26 $226,900-$625,000

                 Closed-23 $247,750-$511,000

St Charles/Campton Hills-

                 New 22 $310,000-$1,285,000

                 Closed-12 $153,000-$812,000

Yorkville-New 13 $248,000-$460,000

                 Closed-10 $235,900-$499,000

Click on the photo above to see the other communities.  If the community you are looking in does not have the price range you are looking for, you might want to look to neighboring communities.

Median listing price this week is $359,900 and median sales price is $346,725.

Contracts accepted this week

Contracts accepted this week on single family homes was almost the same.  296 this week compared to 299 the week before.  Next week this should increase with the amount of new listings this week. 

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

Aurora-45                                 Bolingbrook-23

Naperville-57                            Oswego-29

Plainfield-42                             St Charles/Campton Hills-26

Only 1 short sale was accepted by a seller this week.  It was in Plainfield. Now it will be submitted to the lender to see if they will also accept.

Seller’s accepted contracts that are contingent on the buyer closing on their current home.  5 with a kick-out clause of 72 hours and 5 with 48 hours.

Also, seller’s 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 1 with 48 hours.

These contingencies have really scaled back with the multiple offer situation that is occurring.  Seller’s want to accept an offer with the least hurdles to get past. 

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                              260           192               296

Totals                           2357         2544             3358

Check back with us every Saturday for the real estate market update.  At the end of the month we will compare to 2020 and 2019 so you can see how the market is doing.

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!  Request a home valuation and give us some information about your home.  Let us know about any recent updates you have completed.  We will let you know what it is worth in today’s market and provide you with a net proceeds that shows you the expenses to sell.  When an offer comes in this will be updated when we know all the terms so you can make a good decision.

Thinking about buying this year?  You need to call a loan officer to get pre-approved so you are ready to go.  Homes are moving very quickly and you have to be ready for multiple offer situations.

Resources to check out:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• IDHA loan programs

One of the IDHA programs might help you out with student debt and the other one if you live there 5 years you might not have to pay back.  It is worth your time to check them out.

2021 real estate market update week 14.  Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for your home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101