Market update Fox Valley week 44

Posted on October 31, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 44

Market update Fox Valley week 44. New listings of single family homes this week are steady as she goes. 189 this week compared to 186 the week before. That is consistency! We don’t like consistency right now. There is not enough homes for the buyers that are looking. Multiple offers are the norm. Prices keep going up and are sometimes having a problem when the appraiser turns in their report.

Closed listings of single family homes are up 15.47% 306 this week compared to 265 the week before. This is to be expected with 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 27 $120,000-$565,000

Closed-49 $115,500-$489,900

Bolingbrook-New 10 $188,000-$579,000

Closed-21 $160,000-$411,500

Geneva-New 5 $279,000-$525,000

Closed-17 $220,000-$1,200,000

Naperville-New 32 $259,999-$2,250,000

Closed-61 $266,000-$1,251,500

Oswego-New 9 $279,900-$450,000

Closed-14 $179,450-$465,000

Plainfield-New 16 $239,900-$675,000

Closed-30 $160,000-$992,500

St Charles/Campton Hills-

New 13 $290,000-$1,000,000

Closed-15 $178,000-$800,000

Sycamore-New 11 $169,900-$330,000

Closed-8 $168,900-$569,000

West Chicago-New 12 $219,900-$685,000

Closed-7 $150,000-$525,000

Yorkville-New 12 $199,000-$575,000

Closed-15 $215,214-$415,000

Contracts accepted this week

Contracts accepted this week on single family homes were down 12.75%. 267 this week compared to 306 the week before. Inventory is slowing down not buyers. If you need to sell, get it on the market. Buyers are waiting for new listings to come on the market.

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

Aurora-40 Bolingbrook-18

Geneva-13 Naperville-40

Oswego-14 Plainfield-31

St Charles/Campton Hills-30 Yorkville-11

2 short sales were accepted by sellers this week. 1 each in Montgomery and Winfield. Now they 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. 4 with a kick-out clause of 72 hours and 11 with 48 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 72 hours and 8 with 48 hours.

2020 by the month and a look back at 2019 and 2018

2020

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 843 1116 1159

Totals 11263 9913 12664

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

June 1643 1253 1218

July 1423 1008 1090

August 1585 1330 1196

September 1164 765 869

October 1041 738 776

Totals 13736 8666 10511

2018

January 808 489 606

February 1040 444 856

March 1549 907 1564

April 1515 836 1278

May 1569 1066 1344

June 1828 1720 1474

July 1318 994 1061

August 1294 1032 989

September 1479 1093 1078

October 1042 712 748

Totals 13442 9293 10998

The closed column is the most important. These are actual numbers. There were more closings in 2020 than there was in the previous 2 years and with less new listings to sell. People that are not paying attention to the market don’t understand the need that is out there for people looking for a home. They think because of the pandemic that not much is going on. New construction has helped with some of the buyers looking for a home. Inventory has continued to be so very low.

New listing numbers are not accurate. Some of these have been relisted as new when they are not new listings.

Contracts accepted are not accurate either. Some of these end up coming back on the market. It could be a number of reasons like inspection issues that could not be resolved. They might not make it passed the attorney review. Some of them have appraisal issues like they might not come out to appraised value with prices going up or items that need to be fixed.

2020 has turned out to be a pretty good year for real estate and it is not over yet.

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.

Are you thinking about selling? You can request a home valuation and we will let you know what your home is worth in today’s market. We will provide you with a net proceeds that shows you an estimate of the expenses to sell so you can see where you are at. This will be updated when you find a home and we know all the terms.

Thinking about buying a home? Your first step is to contact a loan officer to get pre-qualified so you know what type of loan and what price range will work out best for you. Get a couple years tax returns, pay stubs and everything you pay monthly and bank account information together and give them a call. If you need recommendations let us know.

Check out some great resources:

We will guide you throughout the process. Let us know what questions you have.

Market update Fox Valley week 44. 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

Market update Fox Valley week 43

Posted on October 24, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 43

Market update Fox Valley week 43. New listings of single family homes are down 12.26%. 186 this week compared to 212 the week before. Inventory remains extremely low and this is not going in the right direction. If you have been thinking about selling what are you waiting for? Low competition is what you want.

Closed listing of single family homes are down 6.36%. 265 this week compared to 283 the week before. That is not down by too much. Next week is the last week of the month so they it should be higher next week.

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

Aurora-New 30 $134,900-$469,900

Closed-32 $118,000-$440,501

Batavia-New 6 $174,900-$595,000

Closed-10 $145,500-$705,000

Bolingbrook-New 9 $269,700-$465,000

Closed-16 $175,500-$510,000

Geneva-New 3 $314,900-$449,900

Closed-10 $235,000-$451,500

Naperville-New 35 $245,000-$3,650,000

Closed-37 $227,000-$1,162,500

Oswego-New 16 $195,000-$489,900

Closed-20 $177,500-$490,000

Plainfield-New 27 $195,000-$589,900

Closed-38 $89,000-$640,000

St Charles/Campton Hills-

New 16 $325,000-$1,175,000

Closed-25 $110,000-$900,000

Yorkville-New 6 $250,000-$499,000

Closed-18 $220,000-$427,000

Contracts accepted this week

Contracts accepted this week were pretty consistent. 306 single family homes this week compared to 297 the week before. Buyers are still out there ready to go. They are having a hard time finding a home. When they do find a home there are multiple offers they have to compete with. It continues to be a sellers market. Prices are going up with low inventory. Some are getting priced too high and are having a problem when appraisal comes in.

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

Aurora-42 Bolingbrook-30

Elburn-10 Geneva-21

Montgomery-13 Naperville-30

Oswego-16 Plainfield-29

St Charles/Campton Hills-22 West Chicago-10

Winfield-10 Yorkville-10

5 short sales were accepted by sellers this week. 2 in Bolingbrook and 1 each in Aurora, Plainfield and Sandwich. Now they 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. 7 with a kick-out clause of 72 hours, 15 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. 4 with a kick-out clause of 72 hours, 7 with 48 hours and 1 with 24 hours.

2020 market update by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 654 810 892

Totals 11074 9607 12397

So far this year September is the best month for single family homes that have closed. This column is the most important one to look at. These are actual numbers. New listings can be ones that have been canceled, expired or relisted again so these are not actual numbers of different homes that came on the market. Also contracts accepted can be reactivated if things do not go right with the home inspection, attorney review or maybe the buyers loan did not get approved.

Check back with us every Saturday for the market update Fox Valley. At the end of every month we will also compare 2020 to 2019 and 2018 so you can see how this year is going compared to those years.

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.

Do you or someone you know want to sell their home? Request a home valuation and we will also provide you with a net proceeds that shows you an estimate of 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? Get 2 years of tax returns, pay stubs, car loans, credit card information and any other payments you make regularly together and contact a loan officer so they can get you pre-qualified. Keep this information together in a file so it is easy to get to. Once they give you a letter stating what you qualify for and what type of loan will work best for you then you will be ready to start looking at homes. The letter they give you will go with your offer when you find a home. This will show the seller that you do qualify for their home.

Check out some great resources:

Types of loans and the process
VA loans and the requirements
Current interest rates
Down payment assistance
Illinois homeowners assistance and some communities

Let us know what questions you have.

Market update Fox Valley week 43. 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

Market update Fox Valley week 42

Posted on October 17, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 42

Market update Fox Valley week 42. New listings of single family homes were down slightly over 17%. 212 this week compared to 256 the week before. Multiple offers and back-up offer situations will continue as long as the inventory continues to remain extremely low. Prices are edging higher with some of them that are priced too high having a hard time once the appraiser comes through and gives their report. It is hard for sellers to understand you have to prove your price with comparable homes sold in your area. Unless it is a cash sale, the buyer would need to bring in the difference between appraised price and the sale price if you can’t negotiate down to the contract price.

Closed single family homes were up 8%. 283 this week compared to 262 the week before. These numbers should continue to go up as we head 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 26 $75,000-$674,900

Closed-35 $130,000-$735,000

Bolingbrook-New 16 $175,000-$560,000

Closed-18 $136,500-$415,761

Geneva-New 14 $239,900-$700,000

Closed-18 $266,900-$777,777(lucky number?)

Naperville-New 36 $264,900-$1,495,000

Closed-54 $272,000-$1,265,000

Oswego-New 10 $265,000-$467,500

Closed-11 $177,500-$490,000

Plainfield-New 23 $244,900-$624,400

Closed-30 $165,000-$460,000

St Charles/Campton Hills-

New 24 $204,900-$1,749,900

Closed-23 $155,000-$900,000

West Chicago-New 4 $249,900-$419,000

Closed-11 $230,000-$532,500

Contracts accepted this week

Contracts accepted this week on single family homes were up just slightly under 3%. 297 this week compared to 289 the week before. The market in Fox Valley is staying consistent even through a pandemic.

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

Aurora-44 Bolingbrook-19

Geneva-10 Minooka-10

Naperville-46 Oswego-23

Plainfield-28 St Charles/Campton Hills-31

Yorkvlle-20

Only 1 short sales was accepted this week by a seller. It was in Yorkville. 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. 4 with a kick-out clause of 72 hours, 19 with 48 hours and 1 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours and 6 with 48 hours.

2020 market by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 468 545 586

Totals 10888 9342 12091

Closings are the column to keep an eye on. These are actual numbers. So far September is the best month this year. New listings can be canceled or expire and relisted so these are not actual numbers. The same with contracts accepted. Not all contracts that are accepted end up closing. Some do not make it past the home inspection and attorney review. Some do not make it after the appraisal comes in. They go back on the market and are counted again when they receive another contract.

Check back with us every Saturday for the market update Fox Valley. At the end of the month we will compare this year with 2019 and 2018 so you can see how things have changed.

Contact us

Call us at 630-503-6555 with all your real estate questions. Your goal is our goal whether you are buying or selling a home. I will do everything I can to help you reach your goal.

If you are thinking about selling your home let us update the value of your home by request a home valuation. We will provide you with a net proceeds that shows you an estimate of expenses to sell so you know where you are at. This will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home? The first thing you need to do is get all your financial information together in a folder and contact a loan officer so they can pre-qualify you. They will give you a letter stating what you qualify for and what type of loan will work out best for you. This will be submitted with an offer once you find a home so you can show the seller that you qualify for their home.

Check out some great resources:

Your interest rate will be determined on your credit score. If you need to work on bringing up your score the loan officer will guide you in what helps the most to bring your score up.

Market update Fox Valley week 42. 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

Market update Fox Valley week 41

Posted on October 10, 2020October 10, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 41

Market update Fox Valley week 41. New listings this week were similar to last week. 256 new listings of single family homes compared to 253 the week before. Consistency is definitely better than a down turn but it just never seems to be enough. Inventory remains severely low. As fast a they come on the market they are snapped up unless they are priced way too high.

Closed listing were down slightly over 29%. 262 closed homes this week compared to 371 the week before. That is the difference between the beginning of the month and the end of the month. Most buyers want to close at the end of the month.

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

Aurora-New 40 $120,000-$715,000

Closed-51 $77,500-$750,000

Batavia-New 10 $140,000-$549,900

Closed-2 $369,000-$455,000

Bolingbrook-New 15 $189,900-$498,900

Closed-17 $157,000-$400,000

Geneva-New 9 $294,000-$999,000

Closed-10 $250,000-$910,000

Naperville-New 51 $299,000-$6,000,000

Closed-47 $250,000-$1,365,000

Oswego-New 12 $234,900-$995,000

Closed-7 $155,000-$400,000

Plainfield-New 25 $200,000-$685,000

Closed-30 $192,500-$590,000

St Charles/Campton Hills-

New 21 $179,500-$869,900

Closed-22 $153,000-$720,000

West Chicago-New 12 $150,000-$449,900

Closed-5 $235,000-$600,000

Yorkville-New 12 $144,900-$735,000

Closed-9 $268,500-$412,000

Contracts accepted this week

Contracts accepted this week are consistent. 289 single family homes this week compared to 292 the week before. That is consistent! Buyers are ready to go and step up to write offers.

Take a look at the communities sellers accepted the most contracts this week:

Aurora-44 Batavia-13

Bolingbrook-13 Geneva-18

Montgomery-10 Naperville-55

Oswego-17 Plainfield-35

St Charles/Campton Hills-14 Yorkville-12

5 short sales were accepted this week by sellers. 1 each in Aurora, Naperville, North Aurora, Oswego and Winfield. Now they 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. 4 with a kick-out clause of 72 hours and 17 with 48 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 72 hours and 6 with 48 hours.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

October 256 262 289

Totals 10676 9059 11794

Closed is the column you want to focus on. September is the best month so far for closings followed by July and then August. Closed are actual numbers. New listings sometimes go off the market and then go back on or get relisted as new even if they are not. Contracts accepted sometimes do not make it past the home inspection and attorney review. They go back on the market and then accept another contract. That is why there is such a difference with the numbers.

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 still a great time to put your home on the market. Request a home valuation so you know what your home is worth in today’s market. A net proceeds will be provided that shows you an estimate of expenses to sell. We will update this when an offer comes in and we know all the terms so you can make a good decision.

Are you thinking about buying a home? You need to get a file ready with a couple years of taxes, bank statements and any loans that you pay for monthly also credit card information. Call a loan officer and they will get you qualified so you know the price range and type of loan that will work out best for you. They will provide you with a letter that will go with an offer when you find a home so you can show the seller that you do qualify to buy their home. Sellers will not make a decision without it. You need to update this if it goes beyond 30 days.

Take a look at some great resources:

The interest rate you will receive will depend on your credit score. You might need to work on it so you get a better interest rate. The loan officer will guide you with this. If you need recommendations for a loan officer, home inspector or attorney just let us know and we will provide you with a few names and phone numbers so you can contact them and decide who you want to work with.

Market update Fox Valley week 41. 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

Market update Fox Valley week 40

Posted on October 3, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 40

Market update Fox Valley week 40.

Market update Fox Valley week 40. New listings were up almost 11%. 253 single family homes this week compared to 228 the week before.

Closed listings of single family homes were up 41.60%. 371 this week compared to 262 the week before. I am including this week in the September totals because the last 3 business days of the month were Monday through Wednesday. They were likely the busiest days of the month for closings. Buyers want to close at the end of the month so they bring in less money to closing for interest for the month.

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

Aurora-New 27 $134,999-$549,900

Closed-55 $100,000-$575,000

Batavia-New 9 $200,000-$569,000

Closed-`6 $161,000-$585,879

Bolingbrook-New 14 $159,000-$365,000

Closed-18 $200,000-$470,000

Geneva-New 19 $237,500-$724.900

Closed-23 $124,000-$1.000.000

Naperville-New 51 $229,000-$1,350,000

Closed-60 $281,000-$1,015,000

Oswego-New 26 $240,000-$650,000

Closed-23 $150,000-$522,500

Plainfield-New 18 $89,900-$497,900

Closed-55 $193,000-$622,000

St Charles/Campton Hills-

New 12 $258,000-$975,000

Closed-27 $234,500-$1,229,000

West Chicago-New 15 $199.900-$925,000

Closed-6 $230,000-$460,000

Yorkville-New 9 $230,000-$459,000

Closed-17 $219,000-$479,800

Contracts accepted this week on single family homes

Contracts accepted this week are down almost 4%. 292 contracts accepted this week compared to 304 the week before. That is not down very much and it most likely is due to the continued extremely low inventory of homes for buyers to even look at. Especially in the price range under $200,000. There is just not much there.

Look at the communities that sellers accepted the most contracts:

Aurora-47 Batavia-13

Bolingbrook-22 Geneva-11

Montgomery-11 Naperville-44

Oswego-18 Plainfield-34

St Charles/Campton Hills-20 Yorkville-14

No short sales were accepted by sellers this week.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 10 with a kick-out clause of 72 hours, 11 with 48 hours and 6 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours, 5 with 48 hours and 2 with 24 hours.

Sellers have confidence in the market to accept contingencies on buyers homes.

2020 by the month and a look back at 2019 and 2018

2020

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 1176 1503 1503

Totals 10420 8797 11505

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

June 1643 1253 1218

July 1423 1008 1090

August 1585 1330 1196

September 1164 765 869

Totals 12695 7928 9735

2018

January 808 489 606

February 1040 444 856

March 1549 907 1564

April 1515 836 1278

May 1569 1066 1344

June 1828 1720 1474

July 1318 994 1061

August 1294 1032 989

September 1479 1093 1078

Totals 12400 8581 10250

2020 is the best year out of the 3 for closings so far and that is the one to really focus on. These are real numbers. Facts of what the market did.

2019 is the best year for new listings. These numbers are not facts. Some of these new listings can be relisted again as a new listing even if they have already been on the market.

2018 is the best year for contracts accepted. These numbers are also not facts. It is great that that many buyers were ready and willing to write an offer. Some of these contracts do not make it past the home inspection and attorney review. They can go back on the market and then can get another contract accepted on them. This is why these numbers are so far apart.

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.

Thinking about selling before the end of the year? Let us do a market analysis on your home to update the value in today’s market. We will provide you with a net proceeds that shows you an estimate of expenses to sell. This will be updated when an offer comes in and we know all the terms.

Are you looking to buy a home? If you have not already talked to a loan officer we can make a few recommendations for ones to call to see who you would like to work with. Get ready a couple of years tax returns, pay stubs, any monthly payments you make and credit card information. They will let you know what else you need. Keep all this in a folder that is handy because they will probably ask you for these things again. Loan officer will provide you with a letter showing what you qualify for and what type of loan will work out best for you. This letter will go with an offer when you find the right home. It will show sellers that you do qualify for their home.

Check out some great resources:

Let us know if we can direct you to any other information you are looking for.

Market update Fox Valley week 40. 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

Market update Fox Valley week 39

Posted on September 27, 2020September 27, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 39

Market update Fox Valley week 39.

New listings on single family homes were exactly the same.. 228 this week compared to 228 the week before. We need a bigger variety of price ranges and more homes for sale. Severe inventory shortage of single family homes available continues.

Closed listings of single family homes were down 11.78%. 262 this week compared to 297 the week before. They usually go up as we head closer to the end of the month.

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

Aurora-New 24 $135,000-$635,000

Closed-25 $75,000-$600,000

Batavia-New 7 $179,900-$399,500

Closed-11 $190,002-$615,000

Bolingbrook-New 13 $199,900-$949,000

Closed-16 $161,500-$502,501

Geneva-New 10 $229,000-$649,000

Closed-11 $228,000-$453,000

Naperville-New 50 $250,000-$1,940,000

Closed-51 $257,000-$1,350,000

Oswego-New 9 $264,900-$599,900

Closed-12 $204,000-$463,00

Plainfield-New 28 $218,000-$569,000

Closed-26 $212,500-$500,000

St Charles/Campton Hills-

New 22 $219,900-$1,450,000

Closed-27 $235,000-$1,077,500

West Chicago-New 9 $169,900-$669,000

Closed-13 $160,000-$485,000

Yorkville-New 9 $221,990-$304,490

Closed-10 $71,000-$489,000

Contracts accepted this week

Contracts accepted this week on single family homes were almost the same. 304 this week compared to 307 the week before. That is consistency. This is a great time to sell! The buyers are still looking.

Look at the communities that sellers accepted the most contracts:

Aurora-44 Batavia-10

Bolingbrook-22 Geneva-13

Naperville-53 Oswego-23

Plainfield-31 St Charles/Campton Hills-25

Only 1 short sales was accepted by a seller this week. It was in Aurora. 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. 8 with a kick-out clause of 72 hours, 15 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. 2 with a kick-out clause of 72 hours, 7 with 48 hours and 2 with 24 hours.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 923 1132 1211

Totals 10167 8426 11213

Closed listings is the most important totals to look at. July is still the best month for 2020. New listings does not show the true picture. Some of these were relisted as new even if they were not. Contracts accepted is also not a true picture as you can see with the closed totals. Some of these contracts get accepted and do not make it past the home inspection and attorney review. They can come back up as contract accepted again at a later time.

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 before the end of the year? Now is the best time! When the holidays come around the market usually slows down but 2020 is not a typical year. Let us update the value of your home. You can request it here. We will provide you with a net proceeds that gives you an estimate of expenses to sell so you have an idea of what you will have to work with. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

If you are looking to buy a home the first thing that you need to do is call a loan officer to get pre-qualified. They will provide you with a letter that shows what you qualify for and what type of loan works out best for you. This will get submitted with an offer when you find a home. You will need to make sure to update this if it is older than 30 days.

Check out some great resources:

Let us know if there is any other information we can direct you too.

Market update Fox Valley week 39. 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

Market update Fox Valley week 38

Posted on September 19, 2020September 19, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 38

Market update Fox Valley week 38. New listings of single family homes were up 7.55%. 228 this week compared to 212 the week before. Slight increase we are thankful for but it is still not enough. Extremely low inventory continues.

Closings were also up by 37.5%. 297 this week compared to 216 the week before. They should increase as we head to the end of the month.

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

Aurora-New 31 $139,900-$1,699,000

Closed-30 $85,000-$780,000

Batavia-New 8 $202,500-$525,000

Closed-11 $264,900-$1,010,000

Bolingbrook-New 14 $164,900-$419,999

Closed-19 $112,000-$479,500

Geneva-New 11 $274,900-$654,900

Closed-10 $299,900-$662,500

Montgomery-New 8 $170,00-$399,000

Closed-13 $145,000-$267,000

Naperville-New 40 $249,000-$2,250,000

Closed-65 $275,000-$1,405,000

Oswego-New 19 $205,000-$1,500,000

Closed-15 $230,000-$545,000

Plainfield-New 15 $204,900-$504,900

Closed-41 $215,000-$482,670

St Charles/Campton Hills-

New 18 $300,000-$2,495,000

Closed-27 $250,000-$1,127,000

West Chicago-New 10 $234,900-$649,900

Closed-10 $130,000-$398,700

Contracts accepted this week

Contracts accepted this week on single family homes were up 15.41%. 307 this week compared to 266 the week before. 34.65% more single family homes taken off the market with contracts than new listings coming on the market. It is time for you to get your home on the market if you want to sell this year.

Look at the communities that sellers accepted the most contracts:

Aurora-44 Batavia-10

Bolingbrook-13 Geneva-17

Naperville-47 Oswego-18

Plainfield-46 St Charles/Campton Hills-22

Yorkville-16

Sellers accepted contracts that are contingent on the buyer closing on their current home. 9 with a kick-out clause of 72 hours, 14 with 48 hours and 4 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyers selling and closing on their current home. 5 with a kick-out clause of 72 hours, 5 with 48 hours and 1 with 24 hours.

These sellers still feel confident in the market that these buyers will get through their contingencies and close.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 695 870 907

Totals 9939 8164 10909

Closed is the most important column to look at. This is what actually happened. New listings can be relisted so they might be counted twice. The same for contracts accepted. Some of them do not make it past the home inspection and attorney review. They go back on the market and then get another contract. They might also be counted twice. Sometimes even more.

July is the best month so far. This is not typical. July is usually a slow month when most people are on vacation. The pandemic stalled the market in April and then started back up strong in May. So many people I have talked to that have not been paying attention to what is going on in the real estate market are surprised to hear how well the market is doing during this time.

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 not too late to get your home on the market. You can still get moved before the holidays. Request a home valuation so you know the value of your home in today’s market. I think you will be happily surprised. We will provide you with a net proceeds that shows you an estimate of expenses to sell and what you might walk away with. This will be updated when an offer comes in and we know all the terms so you can make a decision.

If you are thinking about buying a home you need to contact a loan officer to get pre-qualified so you know what type of loan and what price range will work out best for you. They will provide you with a letter that will go with an offer when you find a home. You need to get this updated if it is older than 30 days.

Check out some great resources:

Market update Fox Valley week 38. 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

Market update Fox Valley week 37

Posted on September 12, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 37

Market update Fox Valley week 37. New listings were down 16.86% this week. 212 new single family homes listed this week compared to 255 the week before. So many people are getting adjusted to school starting either in person or remotely. Hopefully this will be a better week coming up because we are definitely going in the wrong direction with new listings.

Closed listings were also down this week by 39.50%. 216 closed single family homes this week compared to 357 the week before. It is typical to have lower numbers in the beginning of the month. Last week Monday was the last day of the month of August and some of the others were most likely supposed to close at the end of August and were delayed. We are seeing a lot of delays because of the lender not getting the loan processed in time.

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

Aurora-New 26 $140,000-$475,000

Closed-31 $124,900-$457,500

Bolingbrook-New 8 $139,900-$410,000

Closed-13 $182,000-$352,500

Geneva-New 16 $225,000-$649,900

Closed-14 $285,000-$650,000

Naperville-New 48 $220,000-$3,500,000

Closed-41 $240,000-$1,350,000

Oswego-New 10 $202,500-$439,000

Closed-11 $201,000-$495,000

Plainfield-New 24 $159,000-$622,500

Closed-18 $246,750-$514,704

St Charles/ Campton Hills-

New 17 $199,900-$799,000

Closed-14 $248,000-$755,000

West Chicago-New 5 $225,000-$439,108

Closed-11 $194,500-$575,000

Yorkville-New 9 $199,900-$2,649,000

Closed-14 $189,000-$392,000

Contracts accepted this week

Contracts accepted this week on single family homes was down this week by 20.36%. 266 contracts accepted this week compared to 334 the week before. Inventory is extremely low. We need a wide range of prices of homes to come on the market to meet the needs of buyers.

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

Aurora-40 Bolingbrook-23

Geneva-10 Minooka-11

Naperville-50 Oswego-16

Plainfield-30 St Charles/Campton Hills-18

Yorkville-10

2 short sales were accepted by sellers this week. 1 each in Aurora and Montgomery. Now they 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. 10 with a kick-out clause of 72 hours, 9 with 48 hours and 1 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, 4 with 48 hours and 2 with 24 hours.

This gives you an idea of how many buyers are out there ready to go and willing to write a contract. Not all of these will close. Some of them will not make it past the attorney review and home inspection. They will be activated again.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 467 573 600

Totals 9711 7867 10602

Closed is the column you want to pay the most attention to. July was the best month we have had so far this year. Usually that is a slower month with people on vacation. This has not been a typical year. It has turned out way better than I expected with a pandemic going on. I still find people that don’t pay attention to what is going on and are surprised that the market is so active.

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.

Do you know what your home is worth? Let us update the value in today’s market. We will provide you with a net proceeds that shows you an estimate of the expenses to sell and what you might walk away with. Request a market analysis here.

Are you thinking about buying a home? First thing you need to do is call a loan officer and get pre-qualified. They will let you know the type of loan and price range that will work out best for you. Your loan officer will give you a letter showing what you qualify for and this will go along with an offer when you find the home you like. This needs to be kept up-to-date. It has to be no older than 30 days.

Check out some great resources:

If you are looking for any other resources just let us know and we will be happy to point you in the right direction.

Market update Fox Valley week 37. 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

Market update Fox Valley week 36

Posted on September 5, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 36

Market update Fox Valley week 36. New listings of single family homes are up this week. 255 this week compared to 241 the week before. Great news! Any increase is very welcome.

Closed listings of single family homes were also up this week. 357 this week compared to 325 the week before. Some of these were on the 31st of August and we are including them in this first week of September. Most buyers do not want to close in the beginning of the month because they need to bring a whole month of interest along with other closing costs to the closing. Some of these closings are getting pushed to the next week because of the loan not processing in time. There is a lot of activity along with a lot of homeowners refinancing because the rates are so fantastic right now.

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

Aurora-New 24 $115,000-$465,000

Closed-46 $105,000-$480,000

Batavia-New 12 $210,000-$609,900

Closed-9 $212,000-$638,449

Bolingbrook-New 14 $174,900-$475,000

Closed-23 $185,000-$410,000

Geneva-New 11 $250,000-$675,000

Closed-16 $238,000-$1,350,000

Montgomery-New 3 $225,000-$239,000

Closed-15 $177,000-$325,000

Naperville-New 55 $270,000-$1,975,000

Closed-60 $270,000-$1,000,000

North Aurora-New 4 $194,000-$369,000

Closed-12 $236,000-$445,500

Oswego-New 11 $215,000-$345,900

Closed-13 $185,000-$380,000

Plainfield-New 32 $230,000-$648,731

Closed-40 $150,000-$581,000

St Charles/Campton Hills-

New 23 $185,000-$1,250,000

Closed-36 $142,500-$1,057,000

Sycamore-New 5 $119,000-$535,000

Closed-10 $95,707-$485,000

West Chicago-New 5 $197,000-$278,000

Closed-18 $135,000-$535,000

Yorkville-New 14 $89,900-$465,000

Closed-9 $150,000-$365,000

Are you looking for a community that consistently has high turnover or maybe a smaller community that there is rarely a home available.

Contracts accepted this week

Contracts accepted this week were slightly lower. 334 this week compared to 345 the week before. There were more contracts accepted this week than new listings. We continue to have low inventory. This is a fantastic time to sell with little competition.

Look at the communities that sellers accepted the most contracts:

Aurora-50 Bolingbrook-25

Geneva-16 Montgomery-10

Naperville-53 Oswego-20

Plainfield-47 St Charles/Campton Hills-22

Sycamore-14 Yorkville-10

4 short sales were accepted this week by sellers. 1 each in Naperville, Plano, West Chicago & Yorkville. Now they 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. 10 with a kick-out of 72 hours, 19 with 48 hours and 1 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 8 with a kick-out of 72 hours and 5 with 48 hours.

2020 by the month

Month New Closed Contracts accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

September 255 357 334

Totals 9499 7651 10336

July is the best month so far this year. You need to mainly focus on the Closed column. New listings can be misleading. Sometimes the same listing comes up as new after a period of time if it does not sell right away. Contracts accepted do not always close. Sometimes they do not make it past the home inspection and attorney review period so they might go back on the market and then get another contract. We can check on that for you.

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.

Thinking about selling your home? Request a home valuation so we can let you know what your home is worth in today’s market. We will provide you with a net proceeds that shows you the expenses to sell so you will know where you are at and what you have to work with. This will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home? You will need to talk to a loan officer first to get pre-qualified so you know what type of loan and what price range will work out best for you. Seller’s want to know that we are showing their home to someone that qualifies for their home.

Check out some great resources:

Whether you want to buy your first home, down size or buy something larger to accommodate your needs we will guide you through the process. If you need recommendations for loan officers, real estate attorneys or home inspector we will give you a few names and phone numbers to contact to see who you would like to work with.

Market update Fox Valley week 36. 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

Market update Fox Valley week 35

Posted on August 29, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 35

Market update Fox Valley week 35. New listings of single family homes were slightly down this week. 241 this week compared to 253 the week before. Schools are back so that might be contributing to the lower numbers. Hopefully they will pick up because there is still buyers looking to find a home. The need has not been met yet.

Closed single family homes were also slightly down this week. 325 this week compared to 332 the week before. Monday is the last day of the month and will be applied to September totals. It might be a big day too since it is the last day of the month.

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

Aurora-New 24 $172,500-$475,000

Closed-47 $95,000-$875,000

Batavia-New 9 $275,000-$750,000

Closed-10 $231,000-$696,639

Bolingbrook-New 15 $188,000-$999,000

Closed-17 $200,000-$434,900

Geneva-New 12 $115,000-$671,500

Closed-21 $242,899-$868,000

Montgomery-New 8 $214,000-$319,900

Closed-11 $141,000-$329,500

Naperville-New 58 $299,000-$2,599,000

Closed-53 $220,000-$1,435,000

Oswego-New 11 $135,000-$497,560

Closed-13 $235,000-$488,000

Plainfield-New 29 $184,900-$849,900

Closed-39 $172,500-$650,000

St Charles/Campton Hills-

New 20 $275,000-$2,395,000

Closed-27 $211,000-$1,200,000

West Chicago-New 6 $225,000-$950,000

Closed-14 $171,500-$448,000

Yorkville-New 6 $235,000-$374,900

Closed-13 $205,000-$365,000

If you can’t find a home in the community you are looking at in your price range you might try looking at another community that might have what you are looking for.

Contract accepted this week

Contracts accepted this week were down by 12. 345 this week compared to 357 the week before. These numbers would be higher with more homes to show buyers. The ones that are on the market and priced right are going right away. Some with multiple offers. It is a great time to sell.

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

Aurora- 50 Batavia-13

Bolingbrook-21 Geneva-15

Montgomery-19 Naperville-52

Oswego-25 Plainfield-31

St Charles/Campton Hills-27 Yorkville-23

5 short sales were accepted this week by sellers. 1 each in Aurora, Montgomery, Naperville, Plainfield and Yorkville. Now they 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. 16 with a kick-out clause of 72 hours, 23 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. 4 with a kick-out clause of 72 hours, 11 with 48 hours and 1 with 24 hours.

2020 by the month and compared to 2019 and 2018

Month New Closed Contract accepted

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1424

Totals 9244 7294 10002

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

June 1643 1253 1218

July 1423 1008 1090

August 1585 1330 1196

Totals 11531 7163 8866

2018

January 808 489 606

February 1040 444 856

March 1549 907 1564

April 1515 836 1278

May 1569 1066 1344

June 1828 1720 1474

July 1318 994 1061

August 1294 1032 989

Totals 10921 7488 9172

We are doing slightly better than 2019 but less than 2018 in closed single family homes. We are way down on new listings. Our totals for closed could be even better if we had more homes on the market. Especially if we had a wider range of prices.

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. Even this time of year. Buyers are still waiting for homes to come on the market. Multiple offers are still happening on homes that are in market-ready condition and priced right. Request a home valuation and we will let you know what your home is worth in today’s market. Provide you with a net proceeds that shows you an estimate of expenses to sell and give you an idea of what you have to work with. This will be updated once you get an offer and we know all the terms.

Thinking of buying a home? You need to be ready to go and flexible with your time and go when a home first comes on the market or you will miss out. You need to call a loan officer and get pre-qualified and make sure you keep it up to date once they give you a letter showing what you qualify for. It can’t be more than 30 days old. You might find a home over the weekend and have a hard time getting in touch with your loan officer to update it so keep an eye on the dates.

Check out some great resources:

If you are having trouble paying your mortgage because of Covid-19 check with IDHA to see if you qualify for assistance. This ends September 4th but do not wait until the end they might run out of money for help. If you do not qualify and are having a hard time and want to sell to get the money out of your home to move give us a call.

Market update Fox Valley week 35. 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