Market update Fox Valley week 33

Market update Fox Valley week 33.  New listings of single family homes were down this week.  264 this week compared to 279 the week before.  We are not heading in the right direction.  Inventory is extremely low already.  We need to increase new listings to meet buyer demand.  Interest rates are fantastic right now so if you want to get a larger home or maybe now is the time to downsize it is a great time to do that.

Closed listings were almost the same.  340 this week compared to 338 the week before.  We increased by 2.  Closed homes will increase as we head into the end of the month.

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

Aurora-New 37 $110,000-$565,000

             Closed-48 $84,000-$539,000

Batavia-New 9 $315,000-$519,900

             Closed-12 $218,900-$528,000

Bolingbrook-New 13 $212,500-$399,900

                     Closed-22 $172,000-$444,900

Geneva-New 17 $234,000-$650,000

             Closed-11 $200,500-$722,500

Montgomery-New 7 $184,900-$339,900

                      Closed-17 $109,900-$317,000

Naperville-New 59 $299,900-$1,790,000

                 Closed-49 $290,000-$1,250,000

Oswego-New 14 $149,000-$519,900

              Closed-22 $197,500-$448,066

Plainfield-New 21 $221,900-$439,900

                Closed-54 $157,000-$493,000

St Charles/Campton Hills-

                New 21 $164,900-$1,050,000

                Closed-25 $168,000-$1,200,000

West Chicago-New 9 $199,000-$549,900

                       Closed-10 $140,000-$495,000

Yorkville-New 5 $229,000-$312,788

              Closed-14 $230,000-$575,000

Contracts accepted this week

Aurora-48                                   Bolingbrook-23

Geneva-19                                   Montgomery-14

Naperville-60                               North Aurora-12

Oswego-17                                  Plainfield-44

St Charles/Campton Hills             West Chicago-13

Yorkville-14

3 short sales were accepted this week.  All 3 were in Plainfield.  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, 17 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, 4 with 48 hours and 3 with 24 hours.

2020 by the month

Month                         New     Closed     Contracts accepted

January                    1,105        566               858

February                  1,267        529            1,024

March                      1,186        707            1,079

April                            648        786               775

May                          1,352     1,010           1,444

June                          1,232        908           1,534   

July                           1,417     1,453           1,852

August                          543        678              734

Totals                         8,750     6,637           9,300

Closed listings is the main one to concentrate on for what the market did so far this year.  New listings can be canceled and relisted.  Contracts accepted doesn’t mean they will close.  It means that buyers thought the home fit their needs and negotiated an offer that was accepted.  Sometimes they don’t make it past home inspection and attorney review.  They might of accepted another contract with other buyers.  That is why that number is larger than new listings.  Some buyers found another home others did not.

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 still a great time to sell!  Let us update the value of your home for today’s market.  We will provide you with a net proceeds that shows you the 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.

If you are wanting to buy a home you need to get your documents in order and call a loan officer to get pre-qualified.  They will give you a letter showing what you qualify for and what type of loan that works out best for you.  We will attach this letter to an offer when you find a home.

Take  a look at some great resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates (check daily)
• Down payment assistance
• Illinois Homeowner assistance and some community assistance

Let us know what communities you are wanting to look at.  We can set you up to receive listings as they hit the market so you don’t miss out on a thing.  You need to be ready to go when they hit the market because they do not stay on the market long right now unless they are priced too high.

Market update Fox Valley week 33.  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

Sign me up to receive listings here

Market update Fox Valley week 30

Market update Fox Valley week 30.  New listings of single family homes are up 10.89%.  285 new listings this week compare to 257 the week before  At least we are going in the right direction.

Closed listings of single family homes were down 11.88%.  282 closed this week compared to 320 the week before.  That is unusual.  They usually go up as we head into the end of the month.

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

Aurora-New 34 $109,900-$499,900

            Closed-32 $87,500-$485,000

Batavia-New 13 $215,000-$1,205,000

             Closed-14 $185,000-$595,000

Bolingbrook-New 19 $174,900-$599,900

                    Closed-21 $160,000-$380,000

Geneva-New 11 $264,900-$1,089,000

             Closed-15 $264,900-$1,450,000

Naperville-New 61 $249,900-$2,250,000

                 Closed-42 $230,000-$1,500,000

North Aurora-New 14 $220,000-$524,900

                       Closed-7 $215,000-$436,500

Oswego-New 10 $205,000-$1,000,000

              Closed-19 $160,500-$649,900

Plainfield-New 29 $225,000-$499,900

                Closed-46 $170,000-$830,000

St Charles/Campton Hills-

                New-25 $196,000-$995,000

                Closed-18 $230,000-$665,600

West Chicago-New 10 $189,900-$1,750,000

                       Closed-6 $85,000-$430,000

Yorkville-New 10 $223,000-$698,900

              Closed-10 $239,900-$479,500

Contracts accepted this week

Contracts accepted this week were down 7.44%.  373 contracts accepted on single family homes compared to 403 the week before.

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

Aurora-51                             Batavia-10

Bolingbrook-18                     Geneva-23

Montgomery-18                    Naperville-60

North Aurora-13                   Oswego-19

Plainfield-46                         St Charles/Campton Hills-19

West Chicago-18                   Yorkville-18

5 short sales were accepted by seller’s this week. 1 each in Aurora, Bolingbrook, Hinckley, North Aurora and Oswego.  Now they 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.  13 with a kick-out clause of 72 hours, 18 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.  7 with a kick-out clause of 72 hours and 10 with 48 hours.

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

Month                        New       Closed    Contracts accepted

January                   1,105         566              858

February                 1,267         529           1,024

March                     1,186         707           1,079

April                           648        786               775

May                         1,352     1,010           1,444

June                         1,232        908           1,534

July                          1,133     1,169           1,507

Totals                        7,923     5,675           8,221

2019

January                       878         407              568

February                  1,032         463              832

March                      1,731         915           1,375

April                        1,594         792           1,307

May                         1,645         995           1,280

June                        1,643       1,253          1,218

July                         1,423       1,008          1,090

Totals                       9,946       5,833          7,670

2018

January                      808           489             606

February                 1,040           444             856

March                     1,549           907          1,564

April                       1,515           836          1,278

May                        1,569        1,066          1,344

June                       1,828         1,720          1,474

July                        1,318            994           1,061

Totals                      9,627         6,456          8,183

You can see homes closed have been declining over the years also the homes available to sell.  Homes available to sell is the biggest factor here.  Low inventory has been a problem even before 2018.  Buyer’s are wanting to buy but they just can’t find the home they need.  This has increased pricing of the homes that are available to sell.  Supply and demand.  If you have thought about selling now is the time so you will not have as much competition.

Contact us

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

Let us update the value of your home in today’s market.  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.

If you are thinking about buying a home you need to call a loan officer to get pre-qualified first.  They will give you a letter showing what type of loan and the price that will work out best for you.  We need to attach the letter with an offer when you find the right home so they seller can see that you 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 homeowner assistance and some community assistance

Check to see if you can get some down payment assistance so you can use the money you have to paint or buy furniture for the new home.  It will also save you from asking the seller to help you with closing costs.

People are changing some of their criteria for a home with the pandemic.  Some are wanting space to work from home or a bigger yard for the kids.  There is so much talk about going back to school.  Some are happy with what their school is deciding and others are not happy.  I can see some might want to move to a different school district that has more to offer or different choices.  Some are talking about home schooling.  They might need more space.

We do need to increase inventory so buyer’s have something to look at.

Market update Fox Valley week 30.  Have a great week!  Check back with us next week for the update or give a call.

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 29

Market update Fox Valley week 29.  New listings of single family homes are down 17.89% this week.  257 this week compared to 313 the week before.  We are going in the wrong directions.  Inventory is extremely low already.  July usually is a slower month with people going on vacation.  This year so far has not been normal and I was hoping people would continue to put their homes on the market even in July.  If you are thinking about selling this year do not pass up this great time to sell.

Closed listings of single family homes increased by 60.80% this week.320 this week compared to 199 the week before.  We are getting closer to the end of the month when most buyers want to close so they should continue to increase.

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

Aurora-New 34 $67,000-$750,000

            Closed-33 $97,938-$385,000

Batavia-New $215,000-$729,000

             Closed-10 $275,000-$722,202

Bolingbrook-New 7 $179,853-$409,900

                     Closed-27 $197,000-$405,000

Geneva-New 16 $275,000-$2,200,000

             Closed-12 $347,500-$1,145,000

Montgomery-New 8 $109,900-$285,000

                      Closed-15 $80,000-$319,900

Naperville-New 64 $267,800-$2,449,000

                 Closed-65 $298,000-$2,100,000

Oswego-New 9 $254,900-$564,900

              Closed-25 $82,500-$625,000

Plainfield-New 25 $214,900-$599,000

                Closed-42 $170,000-$460,000

St Charles/Campton Hills-

                New 21 $230,000-$1,890,000

                Closed-19 $246,000-$1,225,000

West Chicago-New 13 $175,000-$449,500

                       Closed-8 $145,000-$395,000

Yorkville-New 9 $189,900-$424,900

              Closed-12 $115,000-$510,000

Contracts accepted this week

Contracts accepted this week are up 18.18%.  403 this week compared to 341 the week before.  These numbers would be even higher if more listings were on the market.

Take a look at the communities that seller’s accepted the most contracts:

Aurora-59                             Bolingbrook-29

Geneva-13                            Montgomery-21

Naperville-72                        Oswego-17

Plainfield-49                         St Chalres/Campton Hills-29

Sycamore-16                        West Chicago-14

Yorkville-17

3 short sales were accepted by seller’s this week. 1 each in Aurora, Montgomery and West Chicago.  They will now be submitted to the lender to see if they will also accept.

Seller’s accepted contracts that are contingent on the buyer’s closing on their current home.  17 with a kick-out clause of 72 hours, 19 with 48 hours and 3 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer’s selling and closing on their current home.  3 with a kick-out clause of 72 hours, 9 with 48 hours and 1 with 24 hours.

Seller’s feel confident with the market,

2020 by the month

Month                        New      Closed     Contracts accepted

January                   1,105         566                858

February                 1,267         529             1,024

March                    1,186          707             1,079

April                         648          786                775

May                       1,352      1,010             1,444

June                      1,232          908             1,534

July                          848          887             1,134

Totals                    7,638       5,393             7,848

Check back with us every Saturday for the market update Fox Valley.  At the end of each month we will compare 2020 to 2019 and 2018 so you can see how things compare.

Contact us

Call us at 630-503-6555 for 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 this year?  Now is the best time to sell.  Let us update the current value of your home and provide you with a net proceeds.  This shows you an estimate of expenses to sell so you can see where you are at.  We will update this when an offer comes in and we know all the terms.

If you are thinking about buying or if the end of your lease is coming up, contact a loan officer to see if you are ready to buy a home.  They will provide you with a letter that shows what type of loan and the price that will work out best for you.  This letter will go with an offer when you find the right home.

Check out some great resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• Illinois Homeowner assistance and some community assistance

We will guide you through the process and can give you recommendations for a real estate attorney, home inspectors and loan officers.

Market update Fox Valley week 29.  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

besthomesfv@gmail.com