Fox Valley home prices January 4th
Fox Valley home prices January 4th. 23 degrees and sunny right now with clear skies. For the next week the highs will be between 25-31 degrees with the lows from 8-23 degrees. Winter has arrived. I hope all of you enjoyed bringing in the new year.
New listings almost doubled from last week. 84 new listings this week compared to 48 the previous week.
Closed listings are up. 110 this week compared to 76 the previous week.
2 weeks in a row with holidays really have the numbers off. Hopefully 2025 will bring more new listings in every price range so more people can participate in homeownership.
Here are the communities with the most activity this week.
Aurora New-14 $170,000-$699,900
Closed-11 $88,000-$650,000
Elgin New-14 $75,000-$629,990
Closed-8 $334,000-$750,000
Naperville New-7 $400,000-$995,900
Closed-16 $365,000-$1,736,335
Plainfield New-6 $335,000-$730,000
Closed-14 $291,000-$800,000
Other communities had activity. Please look at the photo above to see their price ranges.
Financing used, median prices, and 2,000 SF or more
Median list price this week $427,450, last week $429,945.
Closed median price this week $425,000, last week $425,000.
Conventional financing was used to close on 82 homes this week at median price $442,500 with 37 days average market time, last week 56 homes at median price $428,450 with 57 days average market time.
Cash was used to close on 14 homes this week at median price $378,750 with 33 days average market time, last week 12 homes at median price $382,500 with 36 days average market time.
FHA financing was used to close on 11 homes this week at median price $372,000 with 41 days average market time, last week 5 homes at median price $370,000 with 98 days average market time.
VA financing was used to close on 2 homes this week at median price $550,625 with 35 days average market time, last week 2 homes at median price $469,750 39 days average market time.
2,000 SF or more closed on 64 homes this week at median price $490,000 with 44 days average market time, last week 45 homes at median price $487,000 with 67 days average market time. Minimum price this week $250,000, last week $295,000.
74.5% of homes closed using conventional financing this week. 58% of them were at least 2,000 SF or more.
Under contract this week
90 homes this week went under contract, last week 82. I hope this increases now that we are passed the last 2 weeks of short weeks because of the holidays.
Communities that seller’s accepted contracts this week.
Aurora-11 Elgin-11
Plainfield-14
1 short sale was accepted by a seller this week. It was in Plainfield.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 1 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. 2 with a kick-out clause of 72 hours, 3 with 48 hours, and 1 with 24 hours.
That is only 11 homes out of 90 that have contingencies on the buyer closing or selling and closing on their current home.
Under contract median price this week $414,200 with 67 days average market time, last week $399,450 with 49 days average market time.
2025 by the month
Month New Closed Under contract
January 84 110 90
Next week will be the first full week of 2025.
Check back 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 2024 and 2023 so you have something to compare to.
Contact us
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal.
We can no longer show any home until a buyer signs a buyer representative agreement. Everything is negotiable. You can go to nar.realtor/the-facts for more information. You need to scroll down and see all the guides there
- Written buyer agreements
- Open house and written agreements
- Duty to put client interests above their own
- What veterans need to know about buying a home
- Offers of compensation
- Negotiating written buyer agreements
- Seller concessions
- Multiple listing services
- Fair housing
- Listing agreements
- 10 questions to ask a buyer agent
- 10 questions to ask a seller agent
- Buying your first home
- Mortgages and financing
- Steps between signing and closing
- Agency and non-agency relationships
- The appraisal process
- Home inspections.
Please let me know what questions you have.
You can also request a home valuation, sign-up for email alerts, and search for a home anytime.
All data provided today was from our MLS, MRED, LLC. It changes throughout the day.
Fox Valley home prices January 4th. Happy New Year! Have an awesome week!
Kristine Heiman, Designated Managing Broker
SFR, SRS, SRES, AHWD
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101