Fox Valley Real Estate Market Update Week 39
Fox Valley real estate market update week 39. New listings on single family homes are down. 205 this week compared to 233 the week before. Housing continues to be a problem. There just is not enough to meet the demand. Prices will continue to rise until this gets resolved.
Closed single family homes were up. 338 this week compared to 232 the week before. It is the end of the month so this is to be expected.
Take a look at the communities with the most activity this week:
Aurora-New 36 $145,000-$770,000
Closed-59 $90,000-$595,000
Batavia-New 3 $299,900-$1,000,000
Closed-12 $131,000-$500,000
Bolingbrook-New 14 $240,000-$425,000
Closed-22 $217,500-$527,194
Geneva-New 10 $295,000-890,000
Closed-13 $240,000-$1,050,000
Montgomery-New $209,000-$339,900
Closed-13 $175,000-$415,000
Naperville-New 30 $245,000-$10,500,000
Closed-44 $325,000-$785,000
Oswego-New 18 $219,000-$535,200
Closed-15 $289,000-$665,000
Plainfield-New 25 $209,900-$650,000
Closed-45 $271-$$1,200,000
the 271 is a mistake but I don’t know the correct number. Someone must of entered it wrong.
St Charles-New 12 $189,000-$830,000
Closed-22 $207,000-$1,130,000
Sycamore-New 1 $367,000
Closed-12 $165,000-$355,000
West Chicago-New 6 $249,900-$435,000
Closed-11 $182,000-$685,000
Yorkville-New 9 $210,000-$535,000
Closed-15 $270,000-$550,000
Click on the photo above to see other communities that have had activity.
Financing, median prices and homes that are 2,000 square or more
Median list price this week is $349,315, last week $349,900
Closed median price this week was $340,000, last week $336,137.
Single family homes that closed using Conventional financing this week 243, last week 163
Cash used to close this week 41, last week 25
FHA used to closed this week 39, last week 37.
VA financing used to close this week 13, last week 4.
Most seller’s are looking for Conventional financing. FHA has had a hard time getting accepted. There are not as many people using VA in our area.
Single family homes that closed this week with 2,000 or more square feet 183, last week 131. The median price this week was $415,000 with the minimum price of $90,000. Slightly less than half of the homes closed with less than 2,000 square feet in the Fox Valley area.
Contracts accepted this week
Contracts accepted on single family homes were down. 248 this week compared to 277 the week before. New listings staying in the 200’s is not helping. Buyers need more to choose from.
Look at the communities with the most activity this week:
Aurora-54 Bolingbrook-26
Geneva-13 Naperville-29
Oswego-10 Plainfield-24
St Charles-16 Yorkville-13
No short sales were accepted by seller’s this week.
Seller’s accepted contracts that are contingent on the buyers closing on their current homes. 4 with a kick-out clause of 72 hours and 8 with 48 hours.
Also, seller’s accepted contracts that are contingent on the buyers selling and closing on their current home. 2 with a kick-out clause of 72 hours, 4 with 48 hours and 2 with 24 hours.
2021 by the month and a look back at 2020 and 2019
2021
Month New Closed Contracts accepted
January 543 649 829
February 561 604 778
March 993 1099 1455
April 1006 926 1387
May 1088 1288 1289
June 1450 1686 1671
July 1118 1182 1210
August 1109 1203 1170
September 1083 1411 1251
Totals 8951 10048 11040
2020
Month New Closed Contracts accepted
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
April 648 786 775
May 1352 1010 1444
June 1232 908 1534
July 1417 1453 1852
August 1037 1335 1436
September 1176 1503 1503
Totals 10420 8797 11505
2019
Month New Closed Contracts accepted
January 878 407 568
February 1032 463 832
March 1731 915 1375
April 1594 792 1307
May 1645 995 1280
June 1643 1253 1218
July 1423 1008 1090
August 1585 1330 1196
September 1164 765 869
Total 12695 7928 9735
Closed single family homes have increased over the last 3 years even though less homes were available to choose from.
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 your home. We will let you know what your home is worth in today’s market. A net proceeds will be provided to you that shows you the 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? The first step is to gather all your financial information and contact a loan officer to get pre approved. Then you will be ready to start looking for a home.
Resources
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IDHA programs
If you need recommendations for loan officers, real estate attorneys or home inspectors we can give you a few to contact so you can decide who you want to work with.
All data used is from our MLS MRED, LLC.
Fox Valley real estate market update week 39. 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
