2021 Real Estate Market Update Week 21
2021 real estate market update week 21. New listings of single family homes are up. 291 this week compared to 267 the week before. We are heading in the right direction. The need is greater though.
Closed listings of single family homes are up. 385 this week compare to 299 the week before. It is the end of the month when you expect the numbers to be higher.
Take a look at the communities with the most activity this week:
Aurora-New 43 $130,000-$589,900
Closed-54 $80,000-$484,000
Batavia-New 8 $274,900-$425,000
Closed-14 $145,000-$799,000
Bolingbrook-New 18 $220,000-$525,000
Closed-23 $161,500-$497,000
Geneva-New 13 $229,000-$799,000
Closed-14 $200,000-$970,000
Montgomery-New 11 $157,000-$950,000
Closed-8 $212,000-$330,000
Naperville-New 52 $269,000-$1,500,000
Closed-80 $280,000-$1,095,000
Oswego-New 10 $269,000-$450,000
Closed-26 $245,000-$539,900
Plainfield-New 34 $219,000-$609,900
Closed-56 $180,000-$651.500
St Charles/Campton Hills-
New 16 $207,900-$749,999
Closed-24 $265,000-$700,000
Sycamore-New 12 $139,900-$479,900
Closed-8 $165,000-$745,000
West Chicago-New 11 $239,000-$550,000
Closed-14 $170,000-$656,000
Yorkville-New 4 $305,000-$349,900
Closed-10 $215,000-$724,900
Median list price of single family homes this week $355,000 last week $369,054
Median closed price of single family homes this week $355,000 last week $358,000
Contracts accepted this week
Contracts accepted on single family homes this week were up. 337 this week compared to 322 the week before. Now to get them past home inspection, attorney review and the appraisal comes back at the right price.
Look at the communities sellers accepted the most contracts this week:
Aurora-58 Bolingbrook-18
Geneva-17 Montgomery-12
Naperville-61 North Aurora-12
Plainfield-43 St Charles/Campton Hills-42
Sycamore-15 West Chicago-11
1 short sale was accepted this week by a seller. It was in Bolingbrook. 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. 2 with a kick-out clause of 72 hours, 12 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, 2 with 48 hours and 1 with 24 hours.
2021 real estate market update by the month and a look back at 2020 and 2019
2021
Month New Closed Contracts accepted
January 543 649 829
February 561 604 778
March 993 1099 1455
April 1006 926 1387
May 1088 1228 1289
Totals 4191 4506 5738
2020
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
April 648 786 775
May 1352 1010 1444
Totals 5558 3598 5180
2019
January 878 407 568
February 1032 463 832
March 1731 915 1375
April 1594 792 1307
May 1645 995 1280
Totals 6880 3572 5362
You can see 2021 has had the most closed with the least new listings. Buyers are ready, but sellers are not. This is why we are having multiple offer situations. It is a great time for sellers to sell! If you are waiting for the right time to sell the time is now.
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.
Request a home valuation to see what your home is worth in today’s market. I think you will be surprised. We 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 so you can make a good decision.
If you are thinking about buying a home this year you need to plan way in advance. Get in touch with a loan officer that will take the next step and get you pre approved subject to finding the home. You have to be ready to go in this market when you are up against so many other buyers submitting offers on the same home. You need to look like the best offer.
Resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IDHA programs
This market is very competitive for buyers. You need to go look the day a home hits the market, and be ready to submit an offer right away. If you blink it will be gone.
Do you need recommendations for loan officers, real estate attorneys or home inspectors? We can recommend a few of each so you can choose who you want to work with.
Connect with us on Facebook, Linkedin and twitter. On Facebook you can click on the shop button to search for a home there.
All data came from our MLS MRED LLC.
2021 Real estate market update week 21. 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