Fox Valley home prices May 21
Fox Valley home prices May 21. We will take a look at what happened in the Fox Valley over the week. New listings, Closed, median prices, financing most used, homes that went under contract, resources, and 2022 by the month. No fluff. Just the data that we hope will help you get to know the Fox Valley real estate market.
New listings were consistent. 307 this week compared to 296 the previous week.
Closed listings were up. 218 this week compared to 182 the previous week.
Take a look at the communities with the most activity this week:
Aurora-New 51 $165,900-$849,000
Closed-33 $130,000-$875,000
Bolingbrook-New 31 $159,900-$731,096
Closed-13 $220,000-$855,000
Geneva-New 14 $250,000-$1,100,000
Closed-7 $310,000-$560,000
Montgomery-New 10 $224,900-$369,900
Closed-6 $310,000-$385,000
Naperville-New 62 $319,000-$2,750,000
Closed-36 $355,000-$1,549,000
Oswego-New 9 $309,900-$1,250,000
Closed-14 $322,000-$475,000
Plainfield-New 41 $220,000-$1,299,900
Closed-29 $294,900-$682,500
St Charles-New 28 $279,900-$1,500,000
Closed-13 $175,000-$890,000
West Chicago-New 11 $199,900-$1,575,000
Closed-7 $225,000-$570,000
Yorkville-New 5 $254,500-$850,000
Closed-11 $212,000-$575,000
If the communities you are looking at do not have the price range you are looking for, you might need to expand where you are looking.
We just highlighted the communities with the most activity. Look at the picture above to see other communities that had lower activity.
Financing most used, median prices and 2,000 SF or more
Median list price this week $425,000, last week $415,000
Closed median price this week $405,000, last week $395,000
Conventional financing was used to close 153 homes this week with a median price of $435,000 and 13 days average market time., last week 124 at median price of $425,000 and 23 days average market time.
Cash was used to close on 36 homes this week with a median price of $405,000 and 15 days average market time, last week 24 homes at a median price of $402,500 and 17 days average market time.
FHA financing was used to close on 18 homes with a median price of $335,000 and 21 days average market time, last week 25 homes at median price of $300,000 and 18 days average market time.
VA financing was used to close on 10 homes this week with a median price of $407,500 and 7 days average market time, last week 8 homes at median price of $346,600 and 66 days average market time.
Homes that were at least 2,000 square feet or more closed on 152 homes at a median price of $466,000 and 14 days average market time, last week 11 homes at median price of $470,000 and 22 days average market time. Minimum price for homes that are at least 2,000 square feet or more closed at $237,000, last week $192,000.
Contracts accepted this week
Contracts accepted this week are up. 278 this week compared to 259 the previous week.
Look at the communities seller’s accepted the most contracts:
Aurora-43 Bolingbrook-22
Geneva-10 Naperville-52
Oswego-16 Plainfield-35
St Charles-22
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. 4 each with a kick-out clause of 72, 48 and 24 hours.
Also, a seller accepted an a contract that is contingent on the buyer selling and closing on their current home. It has a kick-out clause of 72 hours.
The median price of homes that went under contract this week $392,500 and 18 days average market time, last week median price was $399,900 and 22 days average market time.
2022 by the month
Month New Closed Contracts accepted
January 422 492 623
February 523 520 724
March 734 904 890
April 1168 966 1334
May 858 641 531
Totals 3705 3523 4102
Check back with us every Saturday for the real estate market update. Next week will be the last full week of the month so we will also compare to 2021 and 2020 so you can see how this year is going.
Resources
Click on everything underlined to go to the site for more information. If there is any information that you are looking for that is not listed let us know and we will point you in the right direction.
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IHDA programs
Talk to your loan officer to see what interest rate they will be offering you. I depends on your credit score. If you need to improve your score talk to them and they will tell you what to do.
As you can see above, the most common loan type seller’s are looking for right now is a Conventional loan. It helps to get familiar with the different types of loans.
Take the extra step and get all your financial information to a loan officer and have them put you through underwriting so you know how much you are approved for before looking at homes. It will put you in a better position if you are up against other offers. I think they should of been doing this all along. It is hard to wait until a week before closing to find out you are approved. Sometimes there is last minute things that come up and so late in the game are hard to resolve so your closing date gets moved.
Request a home valuation if you are thinking about selling. Tell us a little bit about your home and what has been recently updated. We will let you know an estimate of what it might sell for and show 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.
You can sign-up for email alerts. Choose the area and criteria you are looking for and you will receive an email when something comes up.
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.
All data provided is from our MLS. MRED, LLC. It is constantly updated throughout the day.
Fox Valley home prices May 21. 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
