2021 Real Estate Market Update Week 19

Posted on May 15, 2021May 15, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 19

2021 real estate market update week 19. New listings of single family homes were up. 294 this week compared to 236 the week before. We want to see increases every week. It will take a lot more than this to satisfy the amount of buyers that are out there looking. Prices will continue to rise until enough housing in all price ranges comes on the market or gets built.

Closed listings of single family homes were down. 266 this week compared to 278 the week before. They will rise as we get closer to the end of the month when most buyers want to close.

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

Aurora-New 37 $124,900-$679,900

Closed-38 $30,000-$640,000

Bolingbrook-New 15 $200,000-$425,000

Closed-19 $208,000-$502,350

Geneva-New 15 $299,900-$1,799,000

Closed-17 $267,900-$789.000

Montgomery-New 8 $185,000-$369,900

Closed-11 $218.000-$370,000

Naperville-New 57 $275,000-$6,990,000

Closed-52 $280,000-$1,350,000

Oswego-New 18 $229,000-$884,900

Closed-14 $197,000-540,000

Plainfield-New 37 $205,000-$1,076,400

Closed-31 $255,000-$610,000

St Charles/Campton Hills-

New 26 $249,900-$1,850,000

Closed-24 $207,000-$1,155,000

West Chicago-New 16 $189,900-$850,000

Closed-7 $255,000-$605,000

Winfield-New 10 $327,000-$899,900

Closed-5 $295,000-$735,000

Yorkville-New 2 $180,000-$615,000

Closed-11 $264,900-$500,000

Median list price this week is $375,000, and last week it was $350,000

Median Closed price this week is $360,000, and last week it is was also $360,000

Contracts accepted this week

Contracts of single family homes were down. 290 this wee compared to 340 the week before. This does not mean less buyers out there. Last week the new listings were also down so buyers had less to look at.

Look at the communities sellers accepted the most contracts:

Aurora-51 Batavia-10

Bolingbrook-19 Geneva-11

Naperville-50 Oswego-10

Plainfield-39 St Charles/Campton Hills-19

Yorkville-15

No short sales were accepted by sellers this week.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours, 7 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 48 hours.

2021 real estate market update 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 530 544 630

Totals 3633 3822 5079

Closed column is the most important column. These are actual numbers. New and contracts accepted can be added more than once if a home gets listed more than once. Sometimes a contract will get accepted and it will not make it past the home inspection and attorney review so it get relisted and then gets another contract at a later time.

Check back with us every Saturday for the real estate market update. At the end of each month we will take a look back at 2020 and 2019 so you can see how we are doing this year.

Contact us

Call us at 630-503-655 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

It is a great time to be a seller! Prices are increasing because there is not enough homes on the market. National Association of REALTORS® has said we are at a 50 year low for housing. We need more of all types of housing. Request a home valuation and tell us a little bit about your home. Let us know what updates you have completed recently. We will provide you with a net proceeds so you can see the expenses to sell. This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year? Contact a loan officer with all your financial information and let them know to get you pre-approved. The market is moving so fast right now just getting prequalified is not enough. There is multiple offers on most homes and you want to show the seller that you are pre-approved.

Resources:

If you need recommendations for a loan officer, real estate attorney or a home inspector just let us know. We can recommend a few of each so you have a choice.

2021 real estate market update week 19. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 18

Posted on May 8, 2021May 8, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 18

2021 real estate market update week 18. New listings of single family homes were down this week. 236 this week compared to 273 the week before. We are not heading in the right direction. Prices will continue to rise until we get enough listings to satisfy the buyers that are out there looking.

Closed listings of single family homes are about the same this week. 278 this week compared to 280 the week before. That is pretty consistent, and it shows that buyers are still out there willing to write offers even with the increase in prices.

Take a look at the communities that have the most activity this week:

Aurora-New 37 $99,900-$899,900

Closed-36 $85,000-$534,500

Bolingbrook-New 19 $175,000-$469,000

Closed-17 $33,000-$415,000

Geneva-New 8 $225,000-$559,900

Closed-17 $242,000-$870,000

Montgomery-New 2 $205,000-$315,000

Closed-11 $207,000-$358,000

Naperville-New 48 $289,000-$3,600,000

Closed-58 $326,000-$2,250,000

Oswego-New 9 $185,000-$399,000

Closed-13 $155,000-$558,942

Plainfield-New 29 $249,900-$750,000

Closed-31 $203,000-$540,000

St Charles/ Campton Hills-

New-20 $250,000-$1,200,000

Closed-20 $191,900-$1,600,000

Sycamore-New 11 $149,900-$450,000

Closed-9 $253,000-$502,000

Median list price this week is $350,000. Last week it was $365,000

Median Closed price this week is $360,000. Last week it was $360,450.

Contracts accepted this week

Contracts accepted this week on single family homes were up. 340 this week compared to 328 the week before. It is a great time to sell!

Look at the communities sellers accepted the most contracts this week:

Aurora-49 Bolingbrook-15

Geneva-20 Montgomery-14

Naperville-54 Oswego-26

Plainfield-41 St Charles/Campton Hills-25

Sycamore-14 West Chicago-11

Yorkville-16

1 short sale was accepted by a seller on a single family home. It was in Sycamore. Now it will be submitted to the lender to see if they will also accept.

Sellers 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, 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, 3 with 48 hours and 1 with 24 hours.

2021 real estate market update 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 236 278 340

Totals 3339 3556 4789

The closed column is the most important one. This is actual numbers. The new and contracts accepted could be counted more than once if a home is relisted as new, or has a contract accepted, and then it does not make it through the home inspection and attorney review period. It could get relisted again, and then another contract accepted.

Check back with us every Saturday for the real estate market update. At the end of each month we will take a look back at 2020 and 2019 so you an compare to see how this year is going.

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 you reach your goal.

It is a great time sell! Prices are increasing. Request a home valuation and give us some information about your home, and what has been recently updated. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in, and we know all the terms so you can make a good decision.

Are you thinking about buying this year? You need to talk to a loan officer and submit all your financial information so they can get you pre-approved. You need to take this extra step and get pre-approved with the market right now. Homes are selling very fast with multiple offers. You need to be ready to go look as soon as a home hits the market, or it will be gone. The loan officer will give you a letter showing what you qualify for, and what type of loan. This will go with an offer when you find a home.

Resources:

One of the IDHA programs might help payoff student debt, and another one if you stay there at least 5 years you might not have to pay it back. It is worth your time to check them out.

Do you need recommendations for loan officers, real estate attorneys or home inspectors? We can provide a few of each so you can decide who you want to work with.

All data information used is from our multiple listing service MRED, LLC.

2021 real estate market update week 18. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 17

Posted on May 1, 2021May 1, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 17

2021 real estate market update week 17. Seller’s market continues! New listings of single family homes were up this week. 273 this week compared to 232 the week before. Great but we need to really increase these number of new listings or prices will continue to rise.

Closed listings of single family homes was also up this week. 280 this week compared to 232 the week before. It is the last week of the month when most buyers want to close so this was to be expected.

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

Aurora-New 42 $155,500-$629,000

Closed-39 $140,000-$540,000

Batavia-New 13 $259,900-$997,500

Closed-8 $242,500-$884,536

Bolingbrook-New 11 $180,000-$699,000

Closed-11 $204,000-$370,100

Geneva-New 19 $249,00-$949,000

Closed-18 $220,500-$1,000,000

Montgomery-New 11 $190,000-$399,900

Closed-3 $179,900-$220,000

Naperville-New 53 $219,900-$1,999,995

Closed-55 $287,000-$1,385,000

Oswego-New 10 $264,000-$850,000

Closed-18 $135,000-$530,000

Plainfield-New 29 $229,900-$699,900

Closed-37 $170,000-$509,770

St Charles/Campton Hills-

New-26 $195,000-$1,550,000

Closed-20 $230,000-$1,160,500

West Chicago-New $12 $135,900-$599,000

Closed-8 $180,000-$441,251

Yorkvillle-New 11 $244,900-$430,000

Closed-7 $187,000-$526,645

Median list price this week $365,000 compared to last week $350,000. Median closed price this week $360,450 compared to last week $352,000.

Contracts accepted this week

Contracts accepted this week were up. 388 this week compared to 344 the week before.

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

Aurora-48 Batavia-13

Bolingbrook-19 Geneva-12

Naperville-65 Oswego-13

Plainfield-53 St Charles/ Campton Hills-27

Sycamore-12 West Chicago-11

1 short sale was accepted this week by a seller. It was in Winfield. 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. 7 with a kick-out clause of 72 hours, 4 with 48 hours and 3 with 24 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 48 hours and 1 with 24 hours.

2021 real estate market update by the month and also a look back at 2020 and 2019

2021

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

Totals 3103 3278 4449

2020

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

Totals 4206 2588 3736

2019

January 858 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

Totals 5215 2577 4082

The closed column is the most important one to look at. These are actual numbers. More single family homes have closed this year than the previous 2 years. You can see more closed than new listings until April.

New listings can sometimes go back up as a new listing in normal times. Right now they are selling before that happens.

Contracts accepted can sometimes be counted more than once. Sometimes they do not make it past the home inspection and attorney review, and go back on the market and then counted again once they get another contract accepted. Right now some homes are having a problem with the appraised price. It is coming in lower than the contract price. If they can’t negotiate to solve this issue the home will go back on the market.

It is definitely a seller’s market still, and will continue to be until more homes come on the market or the buyers start slowing down that are looking.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Thinking about selling this year? Request a home valuation, and give us some information about your home. What have you updated lately? New roof, painting, appliances or any other updates. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in.

If you are thinking about buying, you need to be ready with a pre-approval letter from your loan officer. Right now things are selling as fast as they go on the market. You need to go look the day it is listed and ready to write an offer right away, or you will lose out. We can schedule a zoom meeting to go over the process and get you familiar with the contract so you can be ready to go.

Resources:

It might be worth your time to look over these resources. You can also ask your loan officer if they are offering any programs. One of the IDHA programs might help payoff student debt and the other one if you live there for 5 years or more you might not have to pay back.

We can make recommendations of loan officers, real estate attorney and home inspectors. Just let us know.

All the information is provided by the multiple listing service MRED LLC..

2021 real estate market update week 17. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 16

Posted on April 24, 2021April 24, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 16

2021 real estate market update week 16. New listings of single family homes were down this week. 232 this week compared to 241 the week before. We are having an extreme housing shortage so any decrease is very sad. I don’t know what else to say. Too many buyers are still looking for a home.

Closed listings of single family homes was exactly the same as new listings and up from last week. 232 this week compared to 222 the week before. Next week is the last week of the month so it should increase even more next week.

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

Aurora-New 32 $85,000-$669,000

Closed-43 $143,000-$710,000

Bolingbrook-New 10 $260,000-$629,910

Closed-11 $219,900-$360,000

Geneva-New 9 $229,900-$725,000

Closed-13 $285,000-$698,938

Naperville-New 47 $319,000-$1,450,000

Closed-41 $162,000-$1,375,000

Oswego-New 9 $235,000-$505,000

Closed-10 $235,000-$400,000

Plainfield-New 37 $220,000-$1,700,000

Closed-25 $206,000-$1,105,000

St Charles/Campton Hills-

New-23 $229,000-$849,900

Closed-16 $239,000-$1,050,000

Yorkville-New 8 $238,000-$655,000

Closed-17 $260,000-$480,000

Median list price this week was $350,000 and median closed price was $352,000. Last weeks median price was $370,000 and last weeks median closed price was $354,000. So median prices were down this week.

Contracts accepted this week

Contracts accepted on single family homes was down this week. 344 this week compared to 359 the week before. Last week new listings were down so that contributed to less contracts accepted this week.

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

Aurora-50 Batavia-13

Bolingbrook-20 Geneva-14

Montgomery-11 Naperville-79

Oswego-26 Plainfield-47

St Charles/Campton Hills-32 West Chicago-10

Yorkville-12

1 short sale was accepted by a seller this week on a single family home. It was in Aurora. Now it will 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. 3 with a kick-out clause of 72 hours, 6 with 48 hours and 2 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 48 hours and 1 with 24 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 501 414 655

Totals 2598 2766 3717

The closed column is the most important column to keep track of. These are actual numbers. New and contracts accepted can sometimes be counted more than once if they were relisted as new or if a contract accepted does not make it past the home inspection, attorney review or appraisal. They can go back on the market and get counted again.

Some of the closed were homes that carried over into the new year.

Check back with us every Saturday for the 2021 real estate market update. Next Saturday is the last week of the month and we will be comparing to 2020 and 2019 so you can see how things are going.

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 you reach your goal.

Will you be selling this year? Request a home valuation and give us some detalls about your home and let us know about any updates that you have completed recently. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Thinking about buying a home this year? You need to be ready to go with a pre-approval letter from your loan officer showing what you qualify for a what loan type. This will go with an offer when you find a home. The market is moving very fast right now so the letter can not be older than 30 days or get it updated. You do not want to wait until you find a home or you could miss out on a home. When a home hits the market you have to be ready to go because so many of them are getting multiple offers on them right away.

Resources:

1 of the IDHA programs might help out with student debt and another one if you live there 5 years might be forgiven. It is worth taking a look at them.

If you need recommendations for loan officers, home inspectors, real estate attorneys let us know. We can recommend a few of each so you can decide who you want to work with.

2021 real estate market update week 16. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 15

Posted on April 17, 2021April 17, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 15

2021 real estate market update week 15. New listings of single family homes were down this week. 241 this week compared to 260 the week before. It is April we should be increasing every week.

Closed listings of single family homes were up this week. 222 this week compared to 192 the week before. As we head to the end of the month they should increase. Most buyers want to close at the end of the month so they can bring less money to closing.

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

Aurora-New 40 $139,900-$750,000

Closed-26 $120,000-$570,000

Batavia-New 10 $210,000-$739,900

Closed-10 $285,000-$421,000

Bolingbrook-New 11 $190,000-$469,000

Closed-15 $227,000-$410,000

Geneva-New 12 $299,900-$1,599,000

Closed-9 $325,000-$625,000

Naperville-New 55 $269,900-$2,250,000

Closed-42 $295,000-$1,375,000

Oswego-New 11 $245,000-$1,000,000

Closed-13 $231,000-$440,000

Plainfield-New 27 $239,900-$749,900

Closed-21 $242,500-$352,400

St Charles/Campton Hills-

New 24 $179,900-$850,000

Closed-16 $278,000-$965,000

West Chicago-New 7 $245,000-$484,900

Closed-12 $120,000-$645,000

Average median listing price this week is $370,000. Average selling price is $345,500

Contracts accepted this week

Contracts accepted on single family homes are up. 359 this week compared to 296 the week before. We need to really increase inventory of homes to start to satisfy the demand from buyers that are looking. We continue to see multiple offers. Prices are increasing because of it.

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

Aurora-50 Batavia-13

Bolingbrook-20 Geneva-14

Montgomery-11 Naperville-79

Oswego-26 Plainfield-47

St Charles/Campton Hills-32 West Chicago-10

Yorkville-12

1 short sales was accepted by a seller this week. It was in Naperville. Now it will be submitted to the lender to see if they will also accept it.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 6 with 48 hours and 2 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 48 hours and 1 with 24 hours.

You can see that, at this time, you better have a contract on your home if you want to have a chance on submitting an offer. Multiple offers is the norm now.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 501 414 655

Totals 2598 2766 3717

March was a good month. I don’t know if we will hit close to the closed numbers this month. Closed is the the main column to keep an eye on. These are actual numbers. New and contracts accepted can sometimes be counted more than once if a home is relisted or if a contract fall apart and then gets another one accepted.

Check back with us every Saturday for the update. At the end of each month we will take a look back at 2020 and 2019 so you can see the comparison.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

It is a great time to be a seller! Prices are increasing. Request a home valuation and give a little information about your home and what updates you have completed. We will provide you with a net proceeds that shows you the expenses to sell. When an offer comes in we will update this when we know all the terms so you can make a good decision.

Thinking about buying a home? You have to be ready to go with a letter from a lender showing how much home you can afford and what type of loan. This will go with an offer when we find you a home. You also have to be ready to go when a listing hits the market. You will be up against multiple offers. This is not the market for you to go home and think about it.

Resources:

One of the IDHA programs might help with student debt and another one if you live there for 5 years it might be forgiven. It is worth your time to check it out.

If you need recommendations for a loan officer, real estate attorney and home inspector we would be happy to provide you with a few that we have successfully worked with and you can choose who you want to work with.

It is an exciting time to sell and buy a home, but it can be stressful. We will do everything we can to explain as we go through the process so you know what to expect.

2021 real estate market update week 15. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 14

Posted on April 10, 2021April 10, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 14

2021 real estate market update week 14. New listings on single family homes are up significantly. 260 this week compared to 192 the week before. I hope this continues. It is a great time to be a seller! Homes are selling quickly are prices are way up.

Closings on single family homes are down. 192 this week compared to 274 the week before. It is the beginning of the month so this is to be expected. They will go up as we get closer to the end of the month when most buyers want to close.

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

Aurora-New 24 $125,000-$850,000

Closed-26 $88,000-$585,000

Batavia-New 15 $125,000-$965,000

Closed-8 $189,900-$706,000

Bolingbrook-New 14 $187,500-$1,125,000

Closed-12 $221,000-$465,000

Geneva-New 11 $249,000-$739,500

Closed-12 $265,000-$825,000

Montgomery-New 12 $189,900-$329,990

Closed-5 $205,000-$315,000

Naperville-New 67 $269,000-$1,950,000

Closed-38 $275,000-$1,375,000

Oswego-New 22 $254,900-$999,900

Closed-14 $175,000-$475,000

Plainfield-New 26 $226,900-$625,000

Closed-23 $247,750-$511,000

St Charles/Campton Hills-

New 22 $310,000-$1,285,000

Closed-12 $153,000-$812,000

Yorkville-New 13 $248,000-$460,000

Closed-10 $235,900-$499,000

Click on the photo above to see the other communities. If the community you are looking in does not have the price range you are looking for, you might want to look to neighboring communities.

Median listing price this week is $359,900 and median sales price is $346,725.

Contracts accepted this week

Contracts accepted this week on single family homes was almost the same. 296 this week compared to 299 the week before. Next week this should increase with the amount of new listings this week.

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

Aurora-45 Bolingbrook-23

Naperville-57 Oswego-29

Plainfield-42 St Charles/Campton Hills-26

Only 1 short sale was accepted by a seller this week. It was in Plainfield. 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 5 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 1 with 48 hours.

These contingencies have really scaled back with the multiple offer situation that is occurring. Seller’s want to accept an offer with the least hurdles to get past.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 260 192 296

Totals 2357 2544 3358

Check back with us every Saturday for the real estate market update. At the end of the month we will compare to 2020 and 2019 so you can see how the market is doing.

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 you reach your goal.

It is a great time to sell! Request a home valuation and give us some information about your home. Let us know about any recent updates you have completed. We will let you know what it is worth in today’s market and provide you with a net proceeds that shows you the expenses to sell. When an offer comes in this will be updated when we know all the terms so you can make a good decision.

Thinking about buying this year? You need to call a loan officer to get pre-approved so you are ready to go. Homes are moving very quickly and you have to be ready for multiple offer situations.

Resources to check out:

One of the IDHA programs might help you out with student debt and the other one if you live there 5 years you might not have to pay back. It is worth your time to check them out.

2021 real estate market update week 14. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for your home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 13

Posted on April 3, 2021April 3, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 13

2021 real estate market update week 13. New listings on single family homes were down this week. 192 this week compared to 222 the week before. Hopefully the holiday week is holding people back from putting their home on the market and it will pick up next week. Until more homes start coming on the market prices are rising rapidly and multiple offers is the norm. Very frustrating for buyers right now.

Closed listings on single family homes increased this week. 274 this week compared to 209 the week before. End of the month is the busiest for closings. Most buyers want to close at the end of the month so they bring less money to closing for interest for the month.

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

Aurora-New 31 $125,000-$735,000

Closed-40 $111,000-$639,000

Bolingbrook-New 15 $186,000-$480,000

Closed-18 $187,997-$470,000

Naperville-New 45 $249,000-$2,100,000

Closed-54 $251,017-$1,031,000

Oswego-New 11 $100,000-$549,900

Closed-15 $307,682-$622,000

Plainfield-New 25 $218,000-$1,190,000

Closed-35 $235,000-$590,000

St Charles/Campton Hills-

New-15 $199,999-$1,595,000

Closed-25 $210,000-$1,150,000

West Chicago-New 4 $239,000-$489,000

Closed-10 $200,000-$501,000

Yorkville-New 4 $249,900-$398,000

Closed-15 $146,000-$807,500

Median list price of single family homes this week is $359,700 and the median sold price $352,500.

Contracts accepted this week

Contracts accepted on single family homes were almost the same this week. 299 this week compared to 293 the week before. That is pretty consistent.

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

Aurora-37 Bolingbrook-12

Geneva-18 Montgomery-13

Naperville-56 Oswego-16

Plainfield-44 St Charles/Campton Hills-25

Yorkville-14

No short sales were accepted by seller’s this week. That does not mean they are not out there.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 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. 1 with a kick-out clause of 72 hours and 2 with 48 hours. Accepting contracts with contingencies other then financing are slowing down because of multiple offer situations. Sellers are looking for offers with the least amount of hurdles to get past to get to closing.

2021 real estate market update week 13 by the month

2021

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

Totals 2097 2352 3062

2020

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

Totals 3558 1802 2961

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

Totals 3641 1785 2775

Closed is the most important column to look at. These are actual numbers. New and contract accepted can be counted twice if a property is relisted or a contract is accepted and it does not get past home inspection and attorney review. Still this year we had the lowest new listings but the most closed homes.

You can see why the prices are rising with the limited inventory of homes. Until more homes come on the market the prices wil continue to rise. Buyers are waiting to pounce on a new listing. Don’t miss out on this great opportunity to sell!

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Request home valuation if you are thinking about selling so you can see where you are at in today’s market. Tell us a little bit about your home and any recent updates that have been completed. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Thinking about buying a home this year? You need to get prequalified with a loan officer and have a letter of pre-approval in hand to start looking. The market is moving very quickly and you have to be ready to go. This letter will go with an offer when you find a home to show the seller you do qualify for their home.

Resources to check out:

One of those IDHA programs might help with student debt and the other one if you stay in the home 5 years the assistance money might be forgiven.

IF you need recommendations for loan officers, real estate attorneys or home inspectors we can give you a few of each to contact so you can decide who you would like to work with.

2021 real estate market update week 13. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 12

Posted on March 27, 2021March 27, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 12

2021 real estate market update week 12. New listings of single family homes were up. 222 this week compared to 171 the week before. Increases are always exciting. We are hoping this picks up steam so there are homes to show buyers that are getting impatient. Too many have multiple offers the same day they are listed.

Closed listing of single family homes went down. 209 this week compared to 226 the week before. The last 3 days business days of the month are next week so there should be an increase then.

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

Aurora-New 26 $120,000-$1,499,000

Closed-27 $115,000-$553,000

Bolingbrook-New 13 $245,900-$799,900

Closed-12 $165,000-$474,809

Geneva-New 8 $325,000-$1,639,900

Closed-10 $292,000-$617,000

Naperville-New 50 $295,000-$1,745,000

Closed-41 $260,000-$1,800,000

Oswego-New 11 $175,000-$749,500

Closed-15 $206,000-$1,500,000

Plainfield-New 29 $219,999-$599,999

Closed-25 $200,000-$781,624

St Charles/Campton Hills-

New 25 $240,000-$1,895.000

Closed-16 $285,000-$617,500

You should be able to click on the photo above to make it larger so you can see all the communities that had activity this week. You might have to adjust what community you are looking at depending on what price range you are looking for.

Contract accepted this week

Contracts accepted this week on single family homes were slightly down. 293 this week compared to 304 the week before. You can see more contracts were accepted this week than new listings. This is the problem with low inventory. As soon as they come on the market they are gone and then some.

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

Aurora-34 Bolingbrook-19

Geneva-15 Naperville-75

Oswego-17 Plainfield-28

St Charles/Campton Hills-21 West Chicago-10

Yorkville-14

1 short sale was accepted on a single family home this week. It was in Montgomery. 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. 4 with a kick-out clause of 72 hours, 6 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. 1 each with a kick-put clause of 48 hours and 24 hours.

Multiple offer situations has decreased these contingencies. Seller’s are looking for the offer with the least amount of hurdles to get through to get to closing.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 801 825 1146

Totals 1905 2078 2753

Look at the difference in the months so far. The closed column is the most important column because that is actual numbers. New listings can be relisted and contracts accepted not always make it past the home inspection and attorney approval time period. They can go back on the market and then contract pending again.

This is the last full week of the month but I think I will wait until next week to take a look back to 2020 and 2019. There is 3 business days next week still in March so I will wait.

Check back with us every Saturday for the 2021 real estate market update and at the end of each month for a comparison to the previous 2 years so you can see how this year is going.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

If you have been waiting for Spring market to put your home up for sale you don’t need to wait. It is here! There is not enough homes on the market and the prices are rising because of it. Request a home valuation and let us know about any updates that have been completed lately that might increase the value. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Are you wanting to buy a home this year? You need to be ready to go with a letter from a lender showing what you qualify for in price and what type of loan. Homes are moving quickly now and you will not have time to look and then get this from a loan officer. When a home hits the market that fits your criteria you need to be ready to go look and write an offer. They are going that quickly.

Resources to check out:

If you are looking for other information let me know and I will point you in the right direction. We can make recommendations for a few loan officers, home inspectors and real estate attorneys. You can decide which ones you want to work with.

2021 real estate market update week 12. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101