2021 Real Estate Market Update Week 19

2021 real estate market update week 19.  New listings of single family homes were up.  294 this week compared to 236 the week before.  We want to see increases every week.  It will take a lot more than this to satisfy the amount of buyers that are out there looking.  Prices will continue to rise until enough housing in all price ranges comes on the market or gets built.

Closed listings of single family homes were down.  266 this week compared to 278 the week before.  They will rise 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 37 $124,900-$679,900

            Closed-38 $30,000-$640,000

Bolingbrook-New 15 $200,000-$425,000

                    Closed-19 $208,000-$502,350

Geneva-New 15 $299,900-$1,799,000

              Closed-17 $267,900-$789.000

Montgomery-New 8 $185,000-$369,900

                     Closed-11 $218.000-$370,000

Naperville-New 57 $275,000-$6,990,000

                 Closed-52 $280,000-$1,350,000

Oswego-New 18 $229,000-$884,900

               Closed-14 $197,000-540,000

Plainfield-New 37 $205,000-$1,076,400

                Closed-31 $255,000-$610,000

St Charles/Campton Hills-

                New 26 $249,900-$1,850,000

                Closed-24 $207,000-$1,155,000

West Chicago-New 16 $189,900-$850,000

                        Closed-7 $255,000-$605,000

Winfield-New 10 $327,000-$899,900

              Closed-5 $295,000-$735,000

Yorkville-New 2 $180,000-$615,000

              Closed-11 $264,900-$500,000

Median list price this week is $375,000, and last week it was $350,000

Median Closed price this week is $360,000, and  last week it is was also $360,000

Contracts accepted this week

Contracts of single family homes were down.  290 this wee compared to 340 the week before.  This does not mean less buyers out there.  Last week the new listings were also down so buyers had less to look at.

Look at the communities sellers accepted the most contracts:

Aurora-51                         Batavia-10

Bolingbrook-19                 Geneva-11

Naperville-50                    Oswego-10

Plainfield-39                     St Charles/Campton Hills-19

Yorkville-15

No short sales were accepted by sellers this week.

Sellers accepted contracts that are contingent on the buyer closing on their current home.  2 with a kick-out clause of 72 hours, 7 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.  2 with a kick-out clause of 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                       530            544                 630

Totals                  3633          3822               5079

Closed column is the most important column.  These are actual numbers.  New and contracts accepted can be added more than once if a home gets listed more than once.  Sometimes a contract will get accepted and it will not make it past the home inspection and attorney review so it get relisted and then gets another contract at a later time.

Check back with us every Saturday for the real estate market update.  At the end of each month we will take a look back at 2020 and 2019 so you can see how we are doing this year.

Contact us

Call us at 630-503-655 with all of 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 be a seller!  Prices are increasing because there is not enough homes on the market.  National Association of REALTORS® has said we are at a 50 year low for housing.  We need more of all types of housing.  Request a home valuation and tell us a little bit about your home.  Let us know what updates you have completed recently.  We will provide you with a net proceeds so you can see the expenses to sell.  This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year?  Contact a loan officer with all your financial information and let them know to get you pre-approved.  The market is moving so fast right now just getting prequalified is not enough.  There is multiple offers on most homes and you want to show the seller that you are pre-approved.  

Resources:

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

If you need recommendations for a loan officer, real estate attorney or a home inspector just let us know.  We can recommend a few of each so you have a choice.

2021 real estate market update week 19.  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