Fox Valley home prices March 5 2022
Fox Valley home prices March 5 2022. We hope for peace soon for Ukraine. The pace of new listings of single family homes coming on the market picked up slightly. 197 this week compared to 163 the week previously.
Closed listing also picked up. 174 this week compared to 128 the week previously.
Take a look at the communities with the most activity this week:
Aurora-New 20 $124,900-$749,900
Closed-24 $170,000-$600,000
Bolingbrook-New 13 $239,900-$899,900
Closed-14 $180,000-$560,000
Naperville-New 40 $249,000-$2,950,000
Closed-21 $340,000-$1,425,000
Oswego-New 15 $244,900-$1,450,000
Closed-13 $293,200-$682,200
Plainfield-New 24 $218,000-$600,00
Closed-23 $251,101-$665,000
St Charles-New 17 $274,900-$3,299,000
Closed-8 $235,000-$720,000
Yorkville-New 12 $326,900-$464,900
Closed-16 $172,500-$602,500
Click on the photo above to take a look at the other communities that also had activity this week.
Financing used, median prices and 2,000 or more square feet
Median list price on single family homes this week $375,000, last week $385,000.
Closed median price this week $365,000, last week $343,500. The average days active this week 24 days with 39 to close. Previous week average days active 8 days with 42 days to close.
Conventional financing was used to close 123 homes this week with a median price of $385,548 with average market time 41 days, last week 90 homes at median price of $375,000 with 40 days average market time.
Cash was used to close on 19 homes this week at median price of $326,000 with 25 days average market time, last week 13 homes at median price of $275,000 with 57 days average market time.
FHA financing was used to close on 22 homes this week with a median price of $275,750 in 35 days average market time, last week 19 homes at median price of $290,000 in 54 days average market time.
VA financing was used to close on 9 homes this week with a median price of $365,000 in 55 days average market time, last week 4 homes at median price of $269,494 in 24 days average market time.
95 homes that are at least 2,000 square feet or more closed this week at a median price of $436,000 in 45 days average market time, last week 68 homes closed at median price of $420,995 in 47 days average market time. The minimum price this week was $217,000, last week $160,000.
Contracts accepted this week
Contracts accepted this week were slightly up. 213 this week compared to 191 the previous week. With more new listings this week we should see this number go up next week.
Look at the communities seller’s accepted the most contracts:
Aurora-30 Bolingbrook-10
Geneva-10 Naperville-51
Oswego-12 Plainfield-31
St Charles-13
1 short sale was accepted by a seller this week. 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. 3 with a kick-out clause of 72 hours, 2 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. 3 with a kick-out clause of 48 hours, 1 with 24 hours and also 1 that we do not know how much time they gave them.
Of the 213 homes that went under contract this week average days on market was 37 days with median price of $397,500.
2022 by the month
Month New Closed Contracts accepted
January 422 492 623
February 523 520 724
March 197 174 213
Totals 1142 1186 1560
Check back with us every Saturday for the Fox Valley home prices market update. At the end of each month we will also show you 2021 and 2020 so you can see a comparison.
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.
If you are waiting for spring market to sell there is no reason to wait unless the timing is off for you. Buyers are waiting for homes to hit the market. Request a home valuation and tell us a little bit about your home. Let us know what has recently been updated. We will let you know what it is worth in today’s market and provide you with 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 this year? You need to get all your financial information to a loan officer so they can get you through the process of getting approved so you are ready to go and start looking at homes. Let us know if you need a recommendation.
Resources-click on them to learn more
Types of loans and the process
Check with your loan officer to see what interest rate they will be offering you. It depends on your credit score what interest rate you are offered.
We are here to guide you through the process. There is more too it besides getting an offer accepted.
All data used is from our MLS MRED, LLC.
Fox Valley home prices March 5 2022. Have an awesome week!
Kristine Heiman, SFR, SRS, AHWD
Designated Managing Broker
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101
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