Market update Fox Valley May 16 2020
Market update Fox Valley May 16 2020. New listings were very consistent with the week before. 280 new single family homes this week compared to 287 the week before. This is great news! We love consistency.
Closed listing this week were slightly higher than the week before. 178 closed single family homes this week compared to 169 the week before. They should get higher 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 $98,000-$995,000
Closed-23 $115,000-$431,000
Batavia-New 12 $244,900-$531,995
Closed-6 $224,000-$492,000
Bolingbrook-New 19 $172,500-$879,900
Closed-12 $200,000-$347,000
Geneva-New 14 $282,000-$624,900
Closed-6 $286,500-$485,000
Montgomery-New 11 $184,017-$327,665
Closed-7 $147,000-$250,000
Naperville-New 59 $299,900-$2,500,000
Closed-35 $265,000-$1,331,500
Oswego-New 17 $194,900-$675,000
Closed-9 $179,000-$427,500
Plainfield-New 23 $215,000-$489,000
Closed-28 $190,000-$557,000
St Charles-New 28 $175,000-$745,000
Closed-12 $245,000-$1,175,000
West Chicago-New 10 $169,900-$449,900
Closed-1 $375,000
Yorkville-New 10 $229,900-$495,000
Closed-8 $234,000-$550,000
Contracts accepted this week
Contracts accepted this week were slightly higher than last week. 267 accepted this week compared to 259 the week before. Buyers are out there and ready to go. They just need more homes to look at in all the different price ranges. Inventory remains low.
Look at the communities that sellers accepted the most contracts:
Aurora-40 Bolingbrook-17
Geneva-12 Montgomery-12
Naperville-40 Oswego-18
Plainfield-29 St Charles/Campton Hills-19
Yorkville-11
2 short sales were accepted this week by sellers. 1 each in Batavia and Sugar Grove.
Sellers accepted contracts that are contingent on the buyer closing on their current home. 13 with a kick-out clause of 72 hours, 13 with 48 hours and 3 with 24 hours.
Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours, 7 with 48 hours and 4 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
May 821 608 804
May has already gone above April totals. We are looking at having a great month! We just need more homes to come on the market. Buyers are ready to go and are waiting.
Contact us
Call us at 630-503-6555 for all your real estate questions. Your goal is our goal. We will do whatever we can to help you reach your goals.
It is very important to keep in contact with your loan officer at this time. You need to get pre-qualified first before you start looking for homes. You need to find out what type of loan will work out best for you and what price range.
It is a great time to sell! Let us update the current value on your home and provide you with a net proceeds that shows you the expenses to sell and see where you are at. This will be updated when an offer comes in and we know all the terms.
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
Check back with us every Saturday for an update for the week. At the end of the month we will compare it to the previous 2 years so you can see how things are going.
Market update Fox Valley May 16 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