Market update Fox Valley April 25 2020
Market update Fox Valley April 25 2020. New listings are up almost 17% this week. 208 this week compared to 178 the week before. We are going in the right direction but we still need to add more.
Closed listings this week are up about 6 1/2%. 194 this week compared 182 the week before. This is the last full week of the month. We will probably see more in the beginning of next week.
Take a look at the communities with the most activity this week:
Aurora-New 29 $133,900-$464,900
Closed-28 $142,000-$428,000
Montgomery-New 10 $146,900-$275,000
Closed-12 $125,000-$343,255
Naperville-New 43 $293,000-$1,585,000
Closed-46 $258,000-$1,227,825
Oswego- New 20 $137,000-$430,000
Closed-14 $233,000-$480,000
Plainfield-New 26 $149,900-$674,900
Closed-23 $200,000-$435,000
St Charles/Campton Hills-
New-18 $270,000-$850,000
Closed-13 $230,500-$875,000
Contracts accepted this week
Contracts accepted this week were up 24 3/4% this week. 237 this week compared to 190 the week before. This is great news that there are still buyers out there wanting to find a home during this pandemic.
Look at the communities that sellers accepted the most contracts:
Aurora-27 Batavia-11
Bolingbrook-14 Geneva-10
Montgomery-10 Naperville-46
Plainfield-27 St Charles/Campton Hills-13
Yorkville-13
There were 3 short sales accepted this week by sellers. 1 each in Aurora, Winfield and Yorkville. Now they will be submitted to the lender to see if they will also accept.
Sellers accepted contracts this week that are contingent on the buyer closing on their current home. 5 with a kick-out clause of 72 hours, 9 with 48 hours and 2 with 24 hours.
Also, sellers accepted contracts this week that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours, 3 with 48 hours and 2 with 24 hours.
2020 by the month
Month New Closed Contracts accepted
January 1,105 566 858
February 1,267 529 1,024
March 1,186 707 1,079
April 648 786 775
Totals 4,206 2,588 3,736
2019
January 878 407 568
February 1,032 463 832
March 1,731 915 1,375
April 1,594 792 1,307
Totals 5,235 2,577 4,082
2018
January 808 489 606
February 1,040 444 856
March 1,549 907 1,564
April 1,515 836 1,278
Totals 4,912 2,676 4,304
2018 was a better year for homes closed. 2019 was a better year for inventory for homes for buyers to look at. Even with a pandemic we are not doing too bad. We are staying pretty consistent.
Contact us
Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.
During this pandemic things have changed. Some homes you might need to look at by virtual tour only. Other homes will let you look with taking precautions.
Home inspections you might not get to go with while they are doing the inspection. They will give you a report and contact you.with questions.
Closings are also different right now. Some, as a seller, you will sign documents ahead of time and not go to closing. Other places you will be in a separate room. As a buyer you will be in a separate room or you will schedule a time and sign documents curbside.
Ask your loan officer how they handle the process.
Check out some great resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some community assistance
A lot of things are being done right now by video conference. We are not allowed to do Open Houses at this time. We can have you sign documents through Docusign. You can do that from your computer or your phone.
Market update Fox Valley April 25 2020. Have a great week!
Kristine Heiman, Designated Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101