Fox Valley home prices October 30 2021
Fox Valley home prices October 30 2021. New listings of single family homes are down. 152 this week compared to 187 the week before. This is so extremely low.
Closed listings of single family homes are up. 292 this week compared to 245 the week before. This is the last full week of the month so it is expected to be higher.
Take a look at the communities with the most activity this week:
Aurora-New 19 $135,000-$875,000
Closed-40 $134,900-$690,000
Bolingbrook-New 5 $215,000-$345,000
Closed-18 $209,000-$486,500
Geneva-New 6 $264,900-$555,000
Closed-10 $225,000-$675,000
Montgomery-New 8 $189,900-$310,000
Closed-12 $165,000-$360,000
Naperville-New 20 $194,500-$1,199,900
Closed-45 $278,000-$2,050,000
Oswego-New 10 $230,000-$425,000
Closed-24 $249,000-$730,000
Plainfield-New 16 $269,900-$565,000
Closed-38 $263,000-$875,000
St Charles-New 13 $179,900-$895,000
Closed-21 $99,900-$1,025,958
West Chicago-New 7 $259,900-$515,000
Closed-12 $210,000-$565,000
Yorkville-New 6 $319,900-$554,900
Closed-17 $195,000-$565,000
It is normal for things to slow down after school starts and into the holiday months. Homes do go on the market all year though.
Buyers that had a hard time getting their offer accepted during the months of multiple offers, are still trying to find a home.
Financing used, median prices and 2,000 square feet or more
Median list price this week $339,000, last week $349,000. Median closed price this week 292 at $340,000, last week 245 at $341,500. We are keeping an eye on this to look for significant changes.
Financing became a bigger deal earlier this year when we started receiving multiple offers. When you are a seller looking at multiple offers you want to choose the offer that is most likely to go through with the least possible issues.
FHA used to be very popular. Loan officers more likely than not used to do a pre qualification for a FHA loan. We had to get them to change that, and start doing Conventional financing, because that is what most seller’s were accepting.
Conventional Closed this week 212 with a median price $365,000, last week 168 at $371,829.
Cash closed this week 34 with a median price of #327,450, last week 41 at $278,000.
FHA closed this week 34 with a median price of $285,800, last week 41 at $278,000.
VA closed this week 10 with median price of $319,500, last week 8 at $381,000
Buyer’s with the pandemic have been looking for larger homes. More bedrooms, family room, home offices and larger yards. We decided to add 2,000 or more square feet to show how many homes sold in this category and what the prices are.
2,000 or more square feet closed this week 167 at a median price of $416,500, last week 134 at $414,000. Minimum price closed this week at $209,100, last week $291,000. This gives you an idea of what buyer’s are paying for more square footage here in the Fox Valley.
Contracts accepted this week
Contracts accepted this week are down. 218 this week compared to 223 the week before. Inventory is down so this is to be expected. That is still more than the new listings last week.
Look at the communities that seller’s accepted the most contracts:
Aurora-37 Bolingbrook-15
Montgomery-10 Naperville-37
Plainfield-30 St Charles-10
Yorkville-11
No short sales were accepted by seller’s this week.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 7 with a kick-out clause of 72 hours and 4 with 48 hours.
Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. Both 2 with a kick-out clause of 72 hours and 48 hours.
2021 by the month in the Fox Valley 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 1288 1289
June 1450 1686 1671
July 1118 1182 1210
August 1109 1203 1170
September 1083 1411 1251
October 715 973 930
Totals 9666 11021 11970
2020
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
April 648 786 775
May 1352 1010 1444
June 1232 908 1534
July 1417 1453 1852
August 1037 1335 1436
September 1176 1503 1503
October 843 1116 1159
Totals 11263 9913 12664
2019
January 878 407 568
February 1032 463 832
March 1731 915 1375
April 1594 792 1307
May 1645 995 1280
June 1643 1253 1218
July 1423 1008 1090
August 1585 1330 1196
September 1164 765 869
October 1041 738 776
Totals 13736 8666 10511
Even with the least new listings 2021 saw the most closed homes in the last 3 years.
Look at the difference in 2019 with new listings to closed homes. 5070 more new listings than closed. We saw it tighten up in 2020. 1,350 more new listings than closed homes. In 2021 it flipped. 1,355 more homes closed than new listings. They were carried over from 2020.
You can see why prices have increased with this tight of a market. Some of those new listings were relisted as new even though they were not new. If you just look at the closed column we increased each year.
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 if you are thinking about selling your home. Give us some details about your home and what has been recently updated.
Are you thinking about buying a home? You will need to get all your fianancial information together and get it to a loan officer to get you pre approved. Then you will be ready to go and start looking.
Resources
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IDHA programs
Check with your loan officer for current rates and find out what rate you might get based on your credit report. You might need some time to improve your credit to get a better rate.
If you need recommendations for loan officer, real estate attorney or home inspectors we can provide a few of each for you to contact and decide who you would like to work with.
All data used was from our MLS MRED, LLC.
Fox Valley home prices October 30 2021. Have a fantastic week! Let us know how we can help you.
Kristine Heiman, SFR, SRS, AHWD
Designated Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101
