2021 Real Estate Market Update Week 29

2021 real estate market update week 29.  Welcome back!  Other places you can get the percentages up or down over all for the week.  We go into a deeper dive into the numbers.  You might be just keeping an eye on your community to see how it is doing or you might be looking for a home and this might persuade you to look at different communities.  Let us know what information is most important to you.

New listings of single family homes was up slightly.  289 this week compared to 277 the week before.  It seemed towards the end of the week more listings were coming on the market.

Closed listings of single family homes were pretty consistent.  306 this week compared to 305 the week before.  Next week is the last week of the month when most buyers want to close.

Take a look at the communities with the most activity this week:

Aurora-New 33 $115,000-$598,900

               Closed-40 $130,000-$575,000

Batavia-New 10 $219,900-$449,900

                Closed-13 $260,000-$650,000

Bolingbrook-New 18 $214,900-$485,000

                        Closed-23 $217,500-$522,000

Geneva-New 13 $260,000-$579,900

                Closed-14 $297,000-$576,000

Montgomery-New 10 $130,000-$339,000

                         Closed-6 $185,000-$330,000

Naperville-New 60 $249,999-$2,150,000

                     Closed-61 $177,500-$1,725,000

North Aurora-New 10 $208,500-$480,000

                          Closed-4 $200,500-$410,000

Oswego-New 9 $210,000-$610,000

                 Closed-14 $251,000-$465,000

Plainfield-New 42 $199,900-$600,000

                    Closed-37 $210,000-$630,000

St Charles-New 24 $215,000-$993,000

                      Closed-23 $222,500-$1,800,000

West Chicago-New 14 $190,000-$825,000

                          Closed-16 $193,000-$582,750

Financing used, median list and closed price

Median list price of single family homes was $360,000 this week compared to $359,900 the week before.

Median closed price of single family homes was $$379,000 this week compared to $355,000 the week before.

Financing choices on closed single family homes this week using Conventional this week 238 and last week 232. Cash this week 27 and last week 28.

Financing choices on closed single family homes this week using FHA this week 36 and last week 39. VA this week 5 and last week 6.

Contracts accepted this week

Contracts accepted this week by seller’s on single family homes was pretty consistent.  322 this week compared to 321 the week before.  Consistency in the market is a wonderful thing.  Some talk about it slowing a bit.  Maybe there are not as many offers on a property as there was, but buyers are still out there looking to buy.  It continues to be a seller’s market here in the Fox Valley area of Illinois.

Look at the communities seller’s accepted the most contracts:

Aurora-53                           Batavia-13

Bolingbrook-23                  Geneva-10

Montgomery-12                 Naperville-50

Oswego-14                         Plainfield-46

St Charles-27                   Yorkville-14

No short sales were accepted by seller’s this week.  That does not mean that they are not out there.  Most people that need to sell, that normally would be selling short, have had enough price appreciation that they can sell and payoff the loan. 

Seller’s accepted contracts that are contingent on the buyer closing on their current home.  3 with a kick-out clause of 72 hours, 10 with 48 hours and 4 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 and 3 with 48 hours.

2021 real estate market by the month

Month                      New     Closed     Contracts accepted

January                  543          649                   829

February                561           604                   778

March                      993        1099                 1455

April                       1006          926                 1387

May                        1088         1228                1289

June                      1450         1686                 1671

July                         853           817                    913

Totals                   6494       7009                  8322

So far June is the best month across the board.  Closed homes is the most important column to keep track of because this is actual numbers.  Some seller’s can accept a contract but because of many reasons it can go back on the market..

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 yo reach your goal.

Is it the right time to make a move?  Request a home valuation and give us a little information about your home and what updates have been completed.  We will provide you with a net proceeds that shows you the expenses to sell and you decide if it is the right time.  This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year?  You need to contact a loan officer and give them all your financial information so they can get you pre approved. You need to take this extra step if you want to even be considered by a seller.  We can set you up to receive listings as they hit the market so you don’t miss out on a thing.

Resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• IDHA programs

Need recommendations for a real estate attorney, loan officers or home inspectors?  Just let us know and we will recommend a few for you to contact and decide who you want to work with.

All data used is from our MLS MRED, LLC

2021 real estate market update week 29.  Have a wonderful week!

Kristine Heiman, SFR, SRS, AWHD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101