Fox Valley home prices January 20th
Fox Valley home prices January 20th. Bright and sunny today with a high of 13 and a low tonight of -14. Next week we will get into the 30’s. I can’t wait!
New listings this week are down. 99 this week compared to 128 the previous week.
Closed listing are consistent. 96 this week compared to 106 the previous week.
Aurora-New 13 $174,720-$689,000
Closed-14 $155,000-$477,820
Elgin-New 14 $230,000-$1,249,770
Closed-8 $139,900-$975,000
Naperville-New 13 $400,000-$2,599,000
Closed-14 $309,000-$1,750,000
Plainfield-New 8 $320,000-$602,927
Closed-16 $330,000-$974,973
Look at the photo above for other communities that had activity this week and their price ranges. Things did not completely stop even with the sub-zero temperatures.
Financing used, median prices, and 2,000 SF or more
Median list price this week $429,874, last week $425,000.
Closed median price this week $428,250, last week $356,250.
Conventional financing was used to close on 77 homes this week at median price $435,000 with 52 days average market time, last week 73 homes at median price $375,000 with 37 days average market time.
Cash was used to close on 9 homes this week at median price $529,900 with 31 days average market time, last week 14 homes at median price $485,500 with 34 days average market time.
FHA financing was used to close on 5 homes this week at median price $270,000 with 3 days average market time, last week 18 homes at median price $312,500 with 31 days average market time.
VA financing was used to close on 4 homes this week at median price $376,500 with 31 days average market time, last week 1 home at $440,500 with 55 days average market time.
2,000 SF or more closed on 60 homes this week at median price $529,950 with 39 days average market time, last week 49 homes at median price $450,000 with 40 days average market time. Minimum price this week and also last week $250,000.
80% of homes closed using Conventional financing this week. If you do not have cash you need to get approved using Conventional if you want to win. A pre-approval letter is just not enough right now. You need to complete the process and get approved.
Under contract this week
Homes that went under contract this week are slightly down. 121 this week compared to 133 the previous week.
Aurora-14 Bolingbrook-13
Naperville-13 Plainfield-15
1 short sale was accepted by a seller this week. It was in Bolingbrook. It will now get 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. 1 with a kick-out clause of 72 hours and 2 with 48 hours.
Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 4 with a kick-out clause of 48 hours, 1 with 24 hours and 1 that we don’t know the timing.
Median price of homes that went under contract this week $402,900 with 57 days average market time, last week median price $397,000 with 62 days average market time.
2024 by the month
Month New Closed Under contract
January 319 286 326
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 2023 and 2022 so you have something to compare to.
Contact us
Call us at 630-502-6555 with all your real estate questions. Your goal is our goal.
All data provided today is downloaded from our MLS, MRED, LLC. It changes throughout the day.
Information to check out
- Types of loans and the process
- VA loans and the requirements
- Down payment assistance
- IHDA programs
- Request home valuation
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- Search for a home anytime
Fox Valley home prices January 20th. Have an awesome week!
Kristine Heiman, Designated Managing Broker
SFR, SRS, SRES, AHWD
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101