Fox Valley home prices November 12th

 

Fox Valley home prices November 12th.  It is starting to feel more like November.  The temperatures are dropping and they are talking about snow.

We will update you on the list prices this week, closed, contracts accepted, 2022 by the month, and show you some great resources to check out.

New listings this week are down.  122 this week compared to 141 the previous week.

Closed listings were also down.  117 this week compared to 182 the previous week.

Aurora-New 18 $190,000-$650,990

             Closed-18 $147,000-$628,000

Bolingbrook-New 10 $212,000-$525,000

                      Closed-9 $185,000-$540,000

Naperville-New 13 $419,000-$750,000

                  Closed-16 $142,500-$1,371,000

Plainfield-New 22 $279,900-$559,500

                 Closed-18 $275,000-$1,168,072

St Charles-New 7 $234,500-$849,000

                  Closed-11 $237,500-$680,00

We are highlighting the communities with the most activity.  Look at the photo above to see other communities that had activity this week and their prices.

Financing used, median prices, and 2,000 SF or more

Median list price this week $375,000, last week $369,900.

Closed median price this week $358,000, last week $355,000.

Conventional financing was used to close on 76 homes this week at median price $375,806 with 40 days average market time, last week 118 homes with median price $375,525 with 44 days average market time.

Cash was used to close on 17 homes this week at median price $345,000 with 97 days average market time, last week 29 homes at median price $353,000 with 37 days average market time.

FHA financing was used to close on 18 homes this week at median price $305,955 with 41 days average market time, last week 24 homes at median price $310,000 with 40 days average market time.

VA financing was used to close on 3 homes this week at median price $385,000 with 5 days average market time, last week 9 homes at median price $355,000 with 79 days average market time.

2,000 square feet or more closed on 66 homes at median price $459,995 with 48 days average market time, last week 93 homes at median price $455,000 with 48 days average market time.  Minimum price this week $235,000, last week $237,000

Conventional financing continues to be the most used financing.

 Contracts accepted this week

Contracts accepted this week were up.  133 this week compared to 119 the previous week.

Aurora-23                         Bolingbrook-11

Geneva-10                        Naperville-20

Plainfield-11                     St Charles-12

2 short sales were accepted by seller’s this week.  Both of them were in Plainfield.  Now they 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.  2 with a kick-out clause of 72 hours, 1 with 48 hours, and 1 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home.  2 with a kick-out clause of 72 hours, 1 with 48 hours, and 1 with 24 hours.

Median price of homes that went under contract this week $359,660 with 59 days average market time, last week the median price was $379,900 with 51 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                    1168       966             1334

May                     1101       893              806

June                     1295     1409             1234

July                       955       932              908

August                1019      1134             1062

September           730        733              698

October                699        612              646

November            263        299              252

Totals                 8909     8894             9177

Every Saturday we update the real estate market update for the Fox Valley area of Illinois.  At the end of the month we will also show you 2021 and 2020 so you can see how this year is going.

Resources

Click on everything that is bold and underlined and it will take you to the site for the information.

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• IHDA programs
• Request home valuation
• Sign-up for email alerts
• Search for a home

Check with your loan officer for the rate you will be offered.  It depends on your credit score and a few other things.  They will explain it to you.

With interest rates rising it is even more important to check out down payment assistance or asking for closing cost credit.  Maybe you can buy down the interest rate.  Another question for the loan officer.

You can find us on Facebook and also search for homes there by click on the “shop now” button.  There is a down arrow that will allow you to choose different criteria for your search.

All data provided today is from our MLS, MRED, LLC.  The data is continuously changing throughout the day everyday.

Contact us

Call us at 630-503-6555 with all your real estate questions.  Your goal is our goal. 

Fox Valley home prices November 12th.  Have an awesome week!

Kristine Heiman, SFR, SRS, SRES, AHWD

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 Ext 101