Fox Valley home prices August 24th
Fox Valley home prices August 24th. Hot week ahead. Low to mid 90’s until Tuesday and then low to upper 80’s.
A couple of mistakes were made when someone was uploading information on 2 sold homes this week so it messes up the stats. We will just have to go with it though. Nothing we can do.
New listings this week are up. 229 this week compared to 199 the previous week.
Aurora-New 28 $185,000-$975,000
Closed-21 $537(this is the first mistake. It was listed for $524,500.)-$950,000
Bolingbrook-New 15 $329,900-$619,000
Closed-15 $245,000-$632,000
Elgin-New 23 $211,900-$699,900
Closed-18 $120,000-$3,150,000
Montgomery-New 6 $325,000-$445,000
Closed-11 $250,000-$449,000
Naperville-New 40 $350,000-$9,850,000
Closed-35 $395,000-$1,550,000
Oswego-New 10 $350,000-$1,799,000
Closed-11 $520(this is the 2nd mistake. It was listed for $520,000)-$560,000
Plainfield-New 28 $339,000-$728,392
Closed-20 $270,000-$625,000
St Charles-New 15 $390,000-$685,000
Closed-10 $315,000-$835,000
West Chicago-New 5 $300,000-$460,000
Closed-12 $235,000-$630,000
Yorkville-New 11 $365,000-$825,000
Closed-6 $355,000-$535,000
These are the communities with the most activity this week. Look at photo above for other communities that also had activity and their price ranges.
Financing used, median prices, and 2,000 SF or more
Median list price this week $449,900, last week $463,750.
Closed median price this week $450,000, last week $460,000
Conventional financing was used to close on 135 homes this week at median price $460,000 with 19 days average market time, last week 176 homes at median price $455,000 with 22 days average market time.
Cash was used to close on 26 homes this week at median price $512,500 with 34 days average market time, last week 31 homes at median price $534,000 with 26 days average market time.
FHA financing was used to close on 19 homes this week at median price $360,900 with 18 days average market time, last week 12 homes at median price $323,000 with 19 days average market time.
VA financing was used to close on 9 homes this week at median price $449,000 with 30 days average market time, last week 10 homes at median price $374,500 with 113 days average market time.
2,000 SF or more closed on 121 homes at median price $525,000 with 22 days average market time, last week 147 homes at median price $545,000 with 30 days average market time. Minimum price this week is off because of error of someone uploading information this week. It says $520. Last week the minimum price was $314,000.
Majority of homes closed this week used conventional financing.
Under contract this week
Homes that went under contract this week are consistent. 178 this week compared to 183 the previous week.
Aurora-30 Elgin-15
Naperville-24 Plainfield-21
St Charles-15
No short sales were accepted by seller’s this week.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 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. 1 with a kick-out clause of 72 hours, 5 with 48 hours, and 1 with 24 hours.
Under contract median price this week $437,000 with 31 days average market time, last week $419,896 with 29 days average market time.
2024 by the month
Month New Closed Under contract
January 576 523 599
February 637 416 691
March 674 612 792
April 800 688 801
May 1077 1002 1075
June 1009 906 918
July 1173 1050 1094
August 688 619 561
Totals 6634 5816 6531
Check back with us every Saturday for the real estate market update for the Fox Valley area of Illinois. At the end of each month we will also take a look back at 2023 and 2022.
Contact us
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal.
August 17th new rules went into effect. Now before you can see any homes you must sign a buyers broker agreement. We also have a new listing agreement. Choices have to be made. We will discuss these until you understand the new rules.
Check out some great information. Click on everything that is bold and underlined to take you to the site for the information.
You can alsorequest a home valuation, sign-up for email alerts, and search for a home anytime on my website. Let me know if you have any questions.
All data provided today was downloaded from our MLS, MRED, LLC. It changes throughout the day.
Fox Valley home prices August 24th. Have an awesome week!
Kristine Heiman, Designated Managing Broker
SFR, SRS, SRES, AHWD
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101