Fox Valley home prices April 16 2022
Fox Valley home prices April 16 2022. New listings are down. 206 this week compared to 239 the previous week. Hopefully it will pick up after the holiday.
Closed listings were up. 190 this week compared to 159 the previous week.
Take a look at the communities with the most activity this week:
Aurora-New 29 $160,000-$569,000
Closed-34 $120,000-$1,010,000
Bolingbrook-New 14 $249,000-$499,500
Closed-12 $158,000-$581,000
Geneva-New 3 $294,900-$599,900
Closed-13 $240,000-$675,000
Naperville-New 35 $345,000-$1,395,000
Closed-34 $331,000-$2,200,000
Oswego-New 14 $255,000-$643,300
Closed-3 $399,000-$410,000
Plainfield-New 27 $224,900-$849,900
Closed-26 $240,000-$1,000,000
St Charles-New 11 $119,900-$3,895,000
Closed-15 $142,000-$895,000
West Chicago-New 12 $225,000-$1,425,000
Closed-3 $245,000-$630,000
Other communities had activity this week. Take a look at the photo above to see the price ranges there.
Financing used, median prices and 2,000 SF or more
Median list price this week $387,000, last week $399,000.
Closed median price this week $391,000, last week $395,000.
Conventional financing used to close on 144 homes at median price $402,500 24 days average market time, last week 120 homes at median price of $407,000 39 days average market time.
Cash used to close on 24 homes with median price $410,000 8 days average market time, last week 22 homes at median price $335,500 19 days average market time.
FHA financing was used to close on 14 homes at median price $297,500 21 days average market time, last week 12 homes at median price $300,490 43 days average market time.
VA financing used to close 6 homes at median price $583,500 110 days average market time, last week 5 homes at median price $454,990 66 days average market time.
2,000 square feet or more closed on 116 homes at median price of $465,750 29 days average market time, last week 90 homes at median price $484,000 51 days average market time. Minimum price this week $175,000, last week $260,000. What a difference a week makes!
Conventional financing is still the most used that gets accepted by the seller. It is still challenging to get your offer accepted no matter what you are using. Don’t give up. Keep trying. Try to write an offer with the most favorable terms that you are comfortable with.
Contracts accepted this week
Contracts accepted this week were up. 297 this week compared to 247 the previous week.
Look at the communities seller’s accepted the most contracts:
Aurora-53 Bolingbrook-20
Geneva-14 Naperville-60
Oswego-18 Plainfield-29
St Charles-19
1 short sale was accepted by a seller this week. It was in Aurora. Now it will be submitted to the lender to see if they will also accept. Most seller’s that are having difficulty right now can sell and still walk away with money at closing. Prices have gone up so much. You might not need to sell short.
Seller’s have accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours and 4 with 48 hours.
Also, seller’s have accepted contracts that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 48 hours and also 1 with 24 hours.
The median price of the 297 homes that went under contract this week was $399,000 23 days average market time, last week 247 homes at median price of $390,000 27 days average market time.
2022 by the month
Month New Closed Contracts accepted
January 422 492 623
February 523 520 724
March 734 904 890
April 634 551 764
Totals 2313 2467 3001
Check back with us every Saturday for the real estate market update. At the end of each month we will also take a look back at 2021 and 2020 so you can see how this year is going so far.
New listings have increased every month since January. We hope that continues.
Resources
You can click on each one of these underlined to go to the site.
Types of loans and the process
Check with your loan officer to find out the interest rate you will be offered. It depends on your credit score. If you need to work on your score your loan officer will help you with that.
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. Tell us a little bit about your home and what has been recently updated. We will let you know what it is worth in today’s market. Also, we will provide you with a net proceeds that shows you an estimate of 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 get all your financial information together and get it to a loan officer so they can get you pre approved. Then you will be ready to start looking at homes.
Sign up for email alerts so you will see homes as they hit the market. You will want to go see it right away if you are interested.
All data provided today is from our MLS MRED, LLC.
Fox Valley home prices April 16 2022. Have an awesome week! Let us know how we can help you.
Kristine Heiman, SFR, SRS, AHWD
Designated Managing Broker
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101
Search for a home today!
