Fox Valley Real Estate Market Update Week 37

Fox Valley real estate market update week 37.  New listings of single family homes are down.  202 this week compared to 239 the week before.  We are heading in the wrong direction.  Buyers are still out there trying to find a home.  There is not as many offers as before.  Still multiple offers, but not as many.

Closed listings of single family homes was up.  249 this week compared to 205 the week before.  This should increase as we head into the end of the month when most buyers want to close.

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

Aurora-New 28 $134,900-$469,000

            Closed-39 $155,000-$510,000

Batavia-New 3 $284,900-$635,000

             Closed-10 $239,900-$690,000

Bolingbrook-New 20 $224,900-$450,000

                    Closed-16 $100,000-$467,000

Geneva-New 5 $220,000-$889,000

             Closed-10$260,000-$510,000

Montgomery-New 4 $225,000-$369,999

                     Closed-11 $190,000-$390,000

Naperville-New 38 $269,900-$6,990,000

                 Closed-25 $335,000-$1,409,945

Oswego-New 11 $320,000-$489,900

             Closed-12 $280,500-$495,000

Plainfield-New 22 $199,500-$575,000

                Closed-38 $181,000-$611,000

St Charles-New 15 $149,500-$1,250,000

                  Closed-17 $275,000-$995,000

West Chicago-New 6 $240,000-$565,000

                       Closed-15 $190,000-$555,000

Yorkville-New 12 $249,000-$449,900

               Closed-13 $185,000-$490,000

Financing, median prices and 2,000 sf or more

Median list price this week $350,000, last week it was also $350,000.

Closed median price this week $335,000, last week $340,000. So we are starting to see prices stabilizing or coming down a little bit.

Conventional financing chosen this week 183, last week 161.

Cash was chosen this week 21, last week also 21

FHA was chosen this week 39, last week 20.

VA was chosen this week 6, last week 3.

People looking for a home that is 2,000 square feet or more this week 136 homes out of 249 with median price of $409,500 and minimum price $218,000.  This gives you an idea of the size of home and price range for the area in the Fox Valley.

Contracts accepted this week

Contracts accepted this week on single family homes by seller’s was up.  268 this week compared to 207 the week before.  It is still a good time to sell.  Buyers are still out there hoping for homes to come on the market.

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

Aurora-45                      Batavia-10

Bolingbrook-20               Geneva-11

Montgomery-15              Naperville-42

Oswego-11                      Plainfield-36

St Charles-22                Yorkville-11

There 2 short sales accepted by seller’s this week.  Both of them were in Aurora.  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.  2 with a kick-out clause of 72 hours and 10 with 48 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home.  4 with a kick-out clause of 72 hours, 4 with 48 hours and 1 with 24 hours.

2021 by the month

Month           New     Closed    Contract accepted

January               543         649                829

February             561          604                778

March                 993         1099              1455

April                  1006          926              1387

May                   1088         1228              1289

June                  1450         1686              1671

July                    1118         1182               1210

August               1109         1203               1170

September         645           841                 726

Totals          8513     9418        10515

Closed is the most important column to look at.  These are actual numbers.  September is looking pretty good.  We still have almost 2 weeks left of the month.

Check back with us every Saturday to get the market update.  At the end of each month we will also look back at 2020 and 2019 to compare to see how this year is going.

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.

Request a home valuation if you are thinking about selling.  Give us a little information about your home and what you have recently updated.  We will let you know what it is worth is today’s market. You will be provided with a net proceeds that shows you the expenses to sell.  This will be updated once an offer comes in and we know all the terms so you can make a good decision.

Thinking about buying?  Get all your financial information together and contact a loan officer to get pre approved.  You need to be ready before you start looking.

Resources:

• Loan types and the process
• VA loan and the requirements
• Current interest rates
• Down payment assistance 
• IHDA programs

Let us know what other information you are looking for. We will point you in the right direction.  If you need recommendations we will be happy to provide a few to contact when looking for loan officers, real estate attorneys and home inspectors.

All data used is from our MLS MRED, LLC.

Fox Valley real estate market update week 37.  Have a great week!

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101