Fox Valley home prices July 22nd
Fox Valley home prices July 22nd. 80’s the next couple of weeks during the day and 60’s at night. Today and tomorrow are the only possible days for rain and that is only 50% or less both days.
New listings this week are down. 180 this week compared to 206 the previous week. We are heading in the wrong direction.
Closed listings this week were exactly the same as the previous week. 180 both weeks.
Aurora-New 15 $199,000-$699,900
Closed-26 $159,000-$658,059
Bolingbrook-New 5 $199,900-$550,000
Closed-13 $250,000-$600,000
Naperville-New 37 $349,000-$1,375,000
Closed-39 $270,000-$1,465,000
Plainfield-New 30 $225,000-$999,000
Closed-27 $165,000-$1,850,000
St Charles-New 16 $329,000-$875,000
Closed-10 $390,000-$1,375,000
Yorkville-New 13 $225,000-$597,000
Closed-10 $230,000-$541,200
Other communities had activity this week. Look at the photo above to see those communities. You just might find your price range in one of those places.
Financing used, median prices, and 2,000 SF or more
Median list price this week $434,750, last week $441,250.
Closed median price this week $431,500, last week $450,000
Median price went down slightly in both list and closed prices.
Conventional financing was used to close on 132 homes this week at median price $448,750 with 55 days average market time, last week 129 homes at median price $487,500 with 26 days average market time.
Median price went down and days on market went up for this week.
Cash was used to close on 22 homes this week at median price $359,687 with 29 days average market time, last week 28 homes at median price $457,500 with 29 days average market time.
Prices down almost $100,000 on median price with the same market time.
FHA financing was used to close on 13 homes this week at median price $335,000 with 17 days average market time, last week 18 homes at median price $403,732 with 34 days average market time.
Median price is down this week with less market time.
VA financing was used to close on 10 homes this week at median price $438,500 with 11 days average market time, last week 5 homes at median price $390,000 with 21 days average market time.
Number of homes doubled and median price went up with less average market time.
2,000 square feet or more closed on 118 homes at median price $503,500 with 53 days average market time, last week 119 homes at median price $530,000 with 32 days average market time. Minimum price this week $250,000, last week $178,000.
Median price went down this week and market time went up. Minimum price went up.
Conventional financing again is the most used way to close this week.
Prices and days on market fluctuate with the type of home, condition and motivation of seller’s.
Under contract this week
Homes under contract this week went up slightly. 227 this week compared to 207 the previous week.
Aurora-41 Bolingbrook-18
Geneva-10 Naperville=32
Oswego-17 Plainfield-28
St Charles-13
These are the communities with the most homes that went under contract this week. Other communities had activity. Click on the photo above to see all the communities.
1 short sale was accepted by a seller this week. It was in Minooka. Now it 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. 5 with a kick-out clause of 72 hours and 3 with 48 hours.
Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours and 3 with 48 hours.
Homes that went under contract this week had a median price of $414,900 with 30 days average market time, last week median price was $410,000 with 36 days average market time.
2023 by the month
Month New Closed Under contract
January 483 326 470
February 630 526 789
March 555 558 726
April 710 617 755
May 735 603 816
June 1030 1059 926
July 561 533 620
Totals 4704 4222 5102
Check back with us every Saturday for the real estate market update for the Fox Valley area of Illinois. At the end of each month we will also take a look back at 2022 and 2021 so you have something to compare to.
Resources
Click on everything that is bold and underlined to take you to the site for the information. If you are looking for information that I do not have below let me know and I will point you in the right direction.
Also, if you want to know an estimate of what your home is worth in today’s market and also an estimate of expenses to sell request a home valuation and we will get you this information.
You can also sign-up for email alerts if you are looking for a home. It will let you know when a home hits the market with the criteria and area you are looking for.
You can search for a home anytime you like.
All data provided today is from our MLS, MRED, LLC. It changes throughout the day.
Contact us
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal.
Fox Valley home prices July 22nd. Have an awesome week!
Kristine Heiman, Designated Managing Broker
SFR, SRS, SRES, AHWD
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101