Fox Valley home prices May 4th
Fox Valley home prices May 4th. Today it is going to be 81 degrees. It should be from mid 60’s to mid 70’s for the next couple of weeks.
Hummingbirds have come back. Lawns are being mowed. I love Spring!
New listing this week are consistent. 205 this week compared to 196 the previous week.
Closed listing are way up. 251 this week compared to 175 the previous week.
Aurora-New 14 $180,000-$575,000
Closed-26 $210,000-$875,000
Batavia-New 8 $339,900-$625,000
Closed-16 $286,000-$830,000
Bolingbrook-New 14 $285,000-$799,971
Closed-23 $180,000-$1,130,000
Elgin-New 22 $249,900-$765,000
Closed-32 $140,000-$2,350,000
Naperville-New 32 $425,000-$2,399,000
Closed-44 $290,000-$1,550,000
Oswego-New 7 $450,000-$1,800,000
Closed-10 $405,000-$630,634
Plainfield-New 26 $289,900-$949,000
Closed-22 $310,000-$689,900
St Charles-New 22 $297,000-$1,500,000
Closed-18 $200,000-$1,710,000
Yorkville-New 5 $340,990-$549,900
Closed-10 $315,000-$652,000
These are the communities with the most activity this week. Other communities also had activity. You can see those in the photo above. If you are not finding the price range you are looking for let me know. We will find it.
Financing used, median prices, and 2,000 SF or more
Median list price this week $454,995, last week $469,990.
Closed median price this week $456,000, last week $450,000.
Conventional financing was used to close on 196 homes this week at median price $475,000 with 27 days average market time, last week 130 homes at median price $442,495 with 44 days average market time.
Cash was used to close on 26 homes this week at median price $385,750 with 30 days average market time, last week 26 homes at median price $511,500 with 33 days average market time.
FHA financing was used to close on 18 homes this week at median price $338,000 with 16 days average market time, last week 9 homes at median price $375,000 with 30 days average market time.
VA financing was used to close on 10 homes this week at median price $414,500 with 24 days average market time, last week 9 homes at $435,000 with 24 days average market time.
2,000 SF or more closed on 162 homes this week at median price $535,250 with 29 days average market time, last week 114 at median price $507,500 with 49 days average market time. Minimum price this week $210,000, last week $309,000.
Conventional financing will be the way to go until more homes come on the market and there are not so many buyers.
Under contract this week
Homes that went under contract this week are up slightly. 223 this week compared to 196 the previous week.
Aurora-17 Bolingbrook-15
Elgin-35 Geneva-13
Naperville-28 Plainfield-39
St Charles-18
These are the communities that seller’s accepted the most contracts. Look at photo above to see other communities.
There were no short sales accepted by seller’s this week.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours and 4 with 48 hours.
Also, Sellers 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.
Median price of homes that went under contract this week $450,000 with 36 days average market time, last week $457,500 with 32 days average market time.
2024 by the month
Month New Closed Under contract
January 576 523 599
February 637 416 691
March 674 612 792
April 800 688 801
May 205 251 223
Totals 2892 2490 3106
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 at 2023 and 2022 so you have something to compare to.
Contact us
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal.
Here are some great resources to check out. Click on everything that is bold and underlined to take you to the site for the information.
- Types of loans and the process
- VA loans and the requirements
- Down payment assistance
- IHDA programs
- Request a home valuation
- Sign-up for email alerts
- Search for a home anytime
You need to be patient with this market but ready to go as soon as a home hits the market or you will lose out on it.
Getting pre-qualified with a loan officer is a must. A seller will not want to guess if you can buy their home.
All data provided today is from our MLS, MRED, LLC. It changes throughout the day.
Fox Valley home prices May 4th. Have an awesome week!
Kristine Heiman, Designated Managing Broker
SFR, SRS, SRES, AHWD
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101