What financing was the most common for week 30

Posted on July 31, 2021July 31, 2021 by Kristine Heiman, Designated Managing Broker

What financing was the most common for week 30

What financing was the most common for week 30? We will fill you in on that shortly. First we will look at how many new listings of single family homes in the Fox Valley area of Illinois. New listings were down. 265 this week compared to 289 the week before.

Closed listings of single family homes were up. 365 this week compared to 306 the week before. A great ending to the month of July.

What financing was the most common for week 30-New an Closed — New and Closed listings

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

Aurora-New 40 $160,000-$770,000

Closed-49 $100,000-$725,000

Batavia-New 11 $265,000-$775,000

Closed-8 $265,000-$700,000

Bolingbrook-New 22 $195,900-$498,900

Closed-23 $200,000-$535,000

Geneva-New 15 $240,000-$695,000

Closed-17 $324,000-$861,606

Montgomery-New 6 $220,000-$345,000

Closed-14 $200,000-$390,000

Naperville-New 38 $224,900-$1,500,000

Closed-67 $290,000-$1,335,000

Oswego-New 11 $215,000-$699,500

Closed-15 $232,000-$540,000

Plainfield-New 37 $214,900-$675,000

Closed-46 $188,000-$680,000

St Charles-New 18 $185,000-$2,350,000

Closed-39 $195,000-$1,845,000

Yorkville-New 9 $39,900-$590,000

Closed-13 $243,000-$577,000

If you are looking to buy and did not see the price range you are looking for in these communities click on the picture to see the other communities and see if you find your price range there.

As you can see from the communities listed that only one community had more new listings than closed. That was Batavia. It will continue to be a seller’s market until this tips the other way.

What financing was the most common for week 30?

It makes a big difference in what financing you choose to go with. Of course cash is king if the price is right, but not everyone has that opportunity.

Conventional financing this week 281 last week 238.

Cash this week 38 last week 27

What financing was the most common for week 30-FHA VA 073121 — FHA and VA

FHA this week 38 last week 36

VA this week 8 last week 5

So many people are using Conventional financing, because that is what the seller’s are choosing when they have multiple offers. FHA and VA are harder to get accepted even if you are not asking for help with closing costs.

It has been hard for buyers that need to use FHA financing.

Median list price this week $373,700 last week $360,000.

Median closed price this week $390,000 last week $379,000.

As prices increase more buyers are left out of the market. It is wonderful for seller’s.

Contracts accepted this week

Contracts accepted this week were down. 297 this week compared to 322 the week before.

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

Aurora-42 Bolingbrook-25

Geneva-19 Montgomery-12

Naperville-41 Oswego-17

Plainfield-34 St Charles-27

West Chicago-10 Yorkville-10

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. 3 with a kick-out clause of 72 hours, 4 with 48 hours and 1 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours, 3 with 48 hours and 2 with 24 hours.

2021 real estate market update so far this year 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 1228 1289

June 1450 1686 1671

July 1118 1182 1210

Totals 6759 8191 8619

2020

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

Totals 8207 5959 8566

2019

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

Totals 9946 5833 7670

So many more homes were closed this year than the previous 2 years. New listings steadily declined from 2019 until this year. Inventory of homes were low in 2019, but look where they are this year. This is why the prices have increased so much.

Communities need to increase housing either with new construction or repurposing commercial property to help increase inventory so buyers have a chance.

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, showing you the expenses to sell, will be provided so you can see where you are at. When an offer comes in this will be updated when we know all the terms so you can make a good decision.

Thinking about buying a home? You need to contact a loan officer and get them all your financial documents so they can get you pre approved. You need to take this extra step, because seller’s want to see that your information has been submitted to an underwriter, and that you have been checked out.

Resources:

We will guide you through the process.

Do you need recommendations for real estate attorneys, home inspectors or loan officers? We can recommend a few so you can decide who you want to work with.

What financing was most common for week 30 was conventional. It will continue to be until this market changes and we start getting more homes on the market.

All data was obtained by connect MLS MRED, LLC.

Have a great week! Let us know how we can help you.

Kristine Heiman, SRS, SFR, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster ST

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 28

Posted on July 17, 2021July 17, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 28

2021 real estate market update week 28. Welcome back! We are here to give you as much information as we can about the market here in the Fox Valley area of Illinois.

New listings of single family homes were down. 277 this week compared to 287 the week before. Any decrease, even if it is small, is not good. There just is not enough homes on the market.

Closed listings of single family homes were way up. 305 this week compared to 206 the week before. As we head into the end of the month they should increase.

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

Aurora-New 40 $142,000-$739,000

Closed-49 $165,000-$615,000

Batavia-New 7 $274,900-$524,900

Closed-10 $335,000-$960,000

Bolingbrook-New 26 $175,000-$499,900

Closed-19 $205,250-$774,900

Geneva-New 8 $249,900-$763,000

Closed-16 $195,000-$860,000

Montgomery-New 6 $165,000-$292,500

Closed-14 $167,350-$361,000

Naperville-New 47 $278,000-$1,990,000

Closed-46 $240,000-$1,400,000

North Aurora-New 2 $199,900-$339,900

Closed-10 $291,000-$462,000

Oswego-New 15 $300,000-$525,000

Closed-14 $177,000-$610,000

Plainfield-New 38 $225,000-$1,000,000

Closed-40 $250,000-$640,000

St Charles-New 20 $279,990-$1,395,000

Closed-19 $185,000-$696,000

Sycamore-New 11 $259,900-$549,900

Closed-12 $140,000-$615,000

Yorkville-New 15 $267,500-$449,000

Closed-7 $285,000-$430,000

To see the other communities click on the photo above to enlarge. You might need to look in communities around where you would like to live to find something. If you are looking by school district or a certain subdivision we can set you up to receive listings in those areas. Just let us know what you are looking for.

Median price and type of financing

Single family homes median list price this week was $359,900, and last week it was $379,900

Median closed price of single family homes this week was $355,000, and last week it was $370,000.

Financing of single family homes that closed this week:

Conventional-232

Cash-28

FHA-39

VA-6

Financing of single family homes the week before:

Conventional-153

Cash-25

FHA-26

VA-4

I decided to add this so you can see what type of financing most buyer’s are using right now to get their offer accepted.

2021 Real Estate Market Update Week 28-Conventional and Cash — Conventional and Cash

2021 Real Estate Market Update Week 28-FHA and VA — FHA and VA

Contracts accepted this week

Contracts accepted this week on single family homes were up. 321 this week compared to 270 the week before.

Look at the communities that seller’s accepted the most contracts this week:

Aurora-61 Bolingbrook-23

Geneva-10 Montgomery-13

Naperville-57 Plainfield-40

St Charles-27

1 short sale was accepted this week by a seller. It was in St Charles. Now it 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. 5 with a kick-out clause of 72 hours, 8 with 48 hours and 1 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours, 3 with 48 hours and 1 with 24 hours.

2021 real estate market by the month

Month New Closed Contracts 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 564 511 591

Totals 6205 6703 8000

You can see on the contracts accepted column, that contracts have been accepted more than once on a home. Sometimes because of inspection issues, appraisal issues or loan did not get approved.

Closed is the most important column. These are actual numbers. At the end of each month I will compare to 2020 and 2019 so you can get a better idea of how this year is going.

Contact us

Call us with all your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Thinking about selling in this wonderful seller’s market? Request a home valuation and tell us a little bit about your home. What updates have you completed. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms.

Are you wanting to buy a home? You need to get pre approved with a loan officer first. Get them all your financial information. You have to be ready to go or you will lose out. You will be up against multiple offers.

Resources:

If there is still information that you are looking for just let us know, and we will point you in the direction to the information.

All data used here is from our MLS MRED LLC.

2021 real estate market update week 28. Have a great week!

Kristine Heiman, SFR, SRS, AWHD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 27

Posted on July 10, 2021July 10, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 27

2021 real estate market update week 27. We are working on the second half of the year now and hope the inventory of homes will improve.

New listings of single family homes was up. 287 this week compared to 239 the week before. Great news! We will take any improvement we can get.

Closed listings of single family homes were down. 206 this week compared to 419 the week before. That is to be expected for the beginning of the month.

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

Aurora-New 46 $194,900-$585,000

Closed-40 $155,000-$900,000

Bolingbrook-New 10 $198,000-$479,000

Closed-16 $215,000-$450,000

Elburn-New 11 $162,000-$699,000

Closed-2 $307,000-$370,000

Geneva-New 9 $252,900-$882,592

Closed-19 $261,000-$962,152

Naperville-New 63 $299,900-$2,095,000

Closed-37 $320,000-$1,209,000

Oswego-New 13 $249,900-$525,000

Closed-12 $258,000-$485,000

Plainfield-New 34 $220,000-$1,399,000

Closed-15 $250,000-$596,388

St Charles-New 29 $199,900-$1,449,000

Closed-11 $275,000-$900,000

Yorkville-New 11 $219,900-$1,100,000

Closed-7 $240,000-$565,500

Median price and financing this week

Median list price of single family homes this week was 379,900. Last week it was $369,504.

Median closed price of single family homes this week was $370,000 same as the week before.

I thought I would add financing this week so you can see what is happening. I did this a little later this morning than my first download so we have 2 more than what is listed above.

The one on the left is Conventional financing. There were 153 with $379,900 the median closed price.

The one on the right is Cash. There were 25 with $412,500 the median closed price.

The one on the left is FHA financing. There were 26 with $291,500 the median closed price.

The one on the right is VA financing. There were 4 with $417,950 the median closed price.

It is important to see the breakdown of what happening right now. I will continue to list this so you can see if things start to change.

Contracts accepted this week

Contracts accepted this week were down. 270 this week compared to 325 the week before. Last week new listings were down so that makes sense.

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

Aurora-46 Bolingbrook-21

Montgomery-13 Naperville-45

Oswego-13 Plainfield-39

St Charles-25

No short sales were accepted by seller’s this week. With the prices going up, even if they need to sell because of not working, most likely they can sell without having to go that route.

Sellers accepted contracts that are contingent on the buyer’s closing on their current home. 9 with a kick-out clause of 72 hours, 6 with 48 hours and 2 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer’s selling and closing on their current home. 2 with a kick-out clause of 24 hours.

2021 real estate market update by the month

Month New Closed Contracts 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 287 206 270

Totals 5928 6398 7679

Closed is the most important column to look at. We started ahead at the beginning of the year with inventory left over from the previous year. Not all of the contracts accepted will end up closing. Sometimes they come back on the market after home inspection/attorney review period of after the appraisal comes in. Prices have increased, and the appraisals don’t always match, so if they can’t come to an agreement the home goes back on the market.

It continues to be a seller’s market.

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.

Thinking about selling this year? Request a home valuation and let us know a little bit about your home and what you have updated. We will let you know what it is worth in today’s market and provide you with a net proceeds 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.

If you are thinking about buying a home this year you have to call a loan officer and get them all your financial information so they can get you pre approved. Pre qualify will not do in today’s market. You will probably be up against other offers when you do find a home so you want to let the seller’s know that you did this extra step.

Resources:

If you need recommendations for loan officers, real estate attorneys and home inspectors just let us know and we will recommend a few for you to choose from.

2021 real estate market update week 27. Have a great week!

Kristine Heiman, SFR, SRS, AHWD

Designate Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 23

Posted on June 12, 2021June 12, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 23

2021 real estate market update week 23. New listings of single family homes were down this week. 297 this week compared to 314 the week before. Not by much, but any decrease just makes it harder for the buyers that are waiting for new homes to come on the market.

Closed listings of single family homes was slightly down. 317 this week compared to 321 the week before. Consistency is what we like to see. They should increase as we get closer to the end of the month.

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

Aurora-New 43 $140,000-$649,900

Closed-36 $120,500-$700,000

Batavia-New 9 $240,000-$664,900

Closed-13 $241,000-$550,000

Bolingbrook-New 27 $224,853-499,900

Closed-13 $190,000-$788,000

Geneva-New 11 $240,108-$879,900

Closed-14 $335,000-$1,095,000

Montgomery-New 7 $190,000-$319,900

Closed-10 $165,000-$335,000

Naperville-New 68 $274,500-$2,699,000

Closed-60 $299,000-$1,100,000

Oswego-New 16 $164,900-$689,900

Closed-20 $175,000-$575,000

Plainfield-New 28 $225,000-$895,000

Closed-39 $240,000-$605,000

St Charles/Campton Hills-

New 27 $250,000-$2,299,900

Closed-33 $205,000-$1,405,000

Sycamore-New 6 $159,900-$650,000

Closed-12 $161,000-$440,000

Wet Chicago-New 11 $250,000-$699,900

Closed-5 $160,000-$680,000

Yorkville-New 6 $269,900-$899,900

Closed-16 $235,000-$1,258,000

Median list price this week was the same as last week $375,000

Median closed price this week was $375,000, and last week it was $390,000

Contracts accepted this week

Contracts accepted this week were higher. 345 this week compared to 314 the week before. Buyers are not slowing down. We are still seeing multiple offers. If you are thinking about selling now is the time to call us, and get it on the market.

Look at the communities sellers accepted the most contracts:

Aurora-47 Bolingbrook-31

Geneva-15 Naperville-57

Oswego-24 Plainfield-45

St Charles/Campton Hills-24 Sycamore-11

West Chicago-12

No contracts were accepted on any short sales this week. Prices have gone up enough, for a lot of them, to sell without having to go the short sale route.

Sellers have accepted contracts that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours, 3 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. 2 with a kick-out clause of 72 hours and 5 with 48 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 611 638 659

Totals 4802 5144 6397

Closed is the most important column to look at. These are actual numbers.

Some get contracts accepted, and then go back on the market.

New listings can also go back on as a new listing.

May is the best month so far for closed listings.

Check back with us every Saturday. At the end of the month we will compare to 2020 and 2019 so you can see how the market is doing this year.

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.

If you are thinking about selling your home request a home valuation. Give us a little information about recent updates that have been completed. We will provide you with a net proceeds that shows you an estimate of expenses to sell. This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year? You need to get pre-approved with a loan officer. Get them all your financial documents so they can put you through underwriting. You need to take this extra step because you will most likely be up against multiple offers.

Resources:

If you need recommendations for real estate attorney, home inspector or loan officers we can give you a few to contact.

2021 real estate market update week 23. 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

2021 Real Estate Market Update Week 21

Posted on May 29, 2021May 29, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 21

2021 real estate market update week 21. New listings of single family homes are up. 291 this week compared to 267 the week before. We are heading in the right direction. The need is greater though.

Closed listings of single family homes are up. 385 this week compare to 299 the week before. It is the end of the month when you expect the numbers to be higher.

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

Aurora-New 43 $130,000-$589,900

Closed-54 $80,000-$484,000

Batavia-New 8 $274,900-$425,000

Closed-14 $145,000-$799,000

Bolingbrook-New 18 $220,000-$525,000

Closed-23 $161,500-$497,000

Geneva-New 13 $229,000-$799,000

Closed-14 $200,000-$970,000

Montgomery-New 11 $157,000-$950,000

Closed-8 $212,000-$330,000

Naperville-New 52 $269,000-$1,500,000

Closed-80 $280,000-$1,095,000

Oswego-New 10 $269,000-$450,000

Closed-26 $245,000-$539,900

Plainfield-New 34 $219,000-$609,900

Closed-56 $180,000-$651.500

St Charles/Campton Hills-

New 16 $207,900-$749,999

Closed-24 $265,000-$700,000

Sycamore-New 12 $139,900-$479,900

Closed-8 $165,000-$745,000

West Chicago-New 11 $239,000-$550,000

Closed-14 $170,000-$656,000

Yorkville-New 4 $305,000-$349,900

Closed-10 $215,000-$724,900

Median list price of single family homes this week $355,000 last week $369,054

Median closed price of single family homes this week $355,000 last week $358,000

Contracts accepted this week

Contracts accepted on single family homes this week were up. 337 this week compared to 322 the week before. Now to get them past home inspection, attorney review and the appraisal comes back at the right price.

Look at the communities sellers accepted the most contracts this week:

Aurora-58 Bolingbrook-18

Geneva-17 Montgomery-12

Naperville-61 North Aurora-12

Plainfield-43 St Charles/Campton Hills-42

Sycamore-15 West Chicago-11

1 short sale was accepted this week by a seller. It was in Bolingbrook. Now it will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours, 12 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours, 2 with 48 hours and 1 with 24 hours.

2021 real estate market update 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 1228 1289

Totals 4191 4506 5738

2020

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

Totals 5558 3598 5180

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

Totals 6880 3572 5362

You can see 2021 has had the most closed with the least new listings. Buyers are ready, but sellers are not. This is why we are having multiple offer situations. It is a great time for sellers to sell! If you are waiting for the right time to sell the time is now.

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 to see what your home is worth in today’s market. I think you will be surprised. We provide you with a net proceeds 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.

If you are thinking about buying a home this year you need to plan way in advance. Get in touch with a loan officer that will take the next step and get you pre approved subject to finding the home. You have to be ready to go in this market when you are up against so many other buyers submitting offers on the same home. You need to look like the best offer.

Resources:

This market is very competitive for buyers. You need to go look the day a home hits the market, and be ready to submit an offer right away. If you blink it will be gone.

Do you need recommendations for loan officers, real estate attorneys or home inspectors? We can recommend a few of each so you can choose who you want to work with.

Connect with us on Facebook, Linkedin and twitter. On Facebook you can click on the shop button to search for a home there.

All data came from our MLS MRED LLC.

2021 Real estate market update week 21. 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

2021 Real Estate Market Update Week 20

Posted on May 22, 2021May 22, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 20

2021 real estate market update week 20. New listings of single family homes are down. 267 this week compared to 294 the week before. This is making it even harder for buyers. Right now they are competing with multiple offer situations. This increases their competition.

Closed listings of single family homes are up. 299 this week compared to 266 the week before. We are getting closer to 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 34 $109,000-$739,900

Closed-37 $131,500-$593,000

Batavia-New 8 $346,000-$519,000

Closed-12 $146,000-$650,000

Bolingbrook-New 12 $209,900-$545,000

Closed-17 $185,000-$502,350

Geneva-New 14 $239,500-$749,000

Closed-13 $240,000-$907,000

Montgomery-New 10 $169,900-$329,000

Closed-7 $199,000-$325,000

Naperville-New 63 $324,900-$1,350,000

Closed-58 $300,000-$1,450,000

Oswego-New 7 $310,000-$500,000

Closed-20 $215,000-$500,000

Plainfield-New 31 $234,000-$758,400

Closed-36 $250,000-$610,000

St Charles/Campton Hills-

New 28 $189,900-$1,995,000

Closed-32 $180,000-$1,075,000

West Chicago-New 8 $250,000-$699,999

Closed-11 $190,000-$515,000

Yorkville-New 8 $257,500-$1,150,000

Closed-14 $205,000-$685,000

Median list price this week $369,054 compared to last week $375,000

Median closed price this week $358,000 compared to last week $360,000

Contracts accepted this week

Contracts accepted this week were up. 322 this week compared to 290 the week before. Right now it almost makes you feel like you won the lottery when you get your offer accepted with all the competition that is out there.

Look at the communities that sellers accepted the most contracts:

Aurora-59 Bolingbrook-23

Geneva-17 Montgomery-11

Naperville-52 Oswego-17

Plainfield-33 Plano-12

St Charles/ Campton Hills-20 Sycamore-10

West Chicago-14

1 short sale was accepted this week on a single family home. It was in Naperville. Now it will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 6 with a kick-out clause of 72 hours, 1 with 48 hours and 2 with 24 hours.

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

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 797 843 952

Totals 3900 4121 5401

Closed is actual numbers. New and contracts accepted can not be relied on. Some new listings can be listed as new again. Contracts accepted, if they do not make it past the home inspection and attorney review, can go back on the market and get another contract.

So far March has been the best month this year for closed homes.

Check back with us every Saturday for the market update. Next week we will compare to 2020 and 2019. We do that at the end of every month so you can 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.

This is the best time to sell if you are thinking about it anytime in the near future. Prices are increasing with the continued low inventory of homes for sale.

Request a home valuation to see what your home is worth in today’s market. I think you will be be very pleasantly surprised. Tell us about your home and what you have updated recently. We will provide you with a net proceeds that shows you the expenses to sell. It will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home this year? Plan way in advance. You are up against a lot of competition. You might need to put offers on a few homes before you get your offer accepted You need to work with a lender that will pre approve you subject to finding the home. It will take more than just a phone call. You will need to submit all your financial information so make sure you have all that together.

Resources:

We can make recommendations for loan officers, real estate attorneys and home inspectors that you can choose from if you don’t know someone already.

2021 real estate market update week 20. Have a great week!

Kristine Heiman-Designate Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 18

Posted on May 8, 2021May 8, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 18

2021 real estate market update week 18. New listings of single family homes were down this week. 236 this week compared to 273 the week before. We are not heading in the right direction. Prices will continue to rise until we get enough listings to satisfy the buyers that are out there looking.

Closed listings of single family homes are about the same this week. 278 this week compared to 280 the week before. That is pretty consistent, and it shows that buyers are still out there willing to write offers even with the increase in prices.

Take a look at the communities that have the most activity this week:

Aurora-New 37 $99,900-$899,900

Closed-36 $85,000-$534,500

Bolingbrook-New 19 $175,000-$469,000

Closed-17 $33,000-$415,000

Geneva-New 8 $225,000-$559,900

Closed-17 $242,000-$870,000

Montgomery-New 2 $205,000-$315,000

Closed-11 $207,000-$358,000

Naperville-New 48 $289,000-$3,600,000

Closed-58 $326,000-$2,250,000

Oswego-New 9 $185,000-$399,000

Closed-13 $155,000-$558,942

Plainfield-New 29 $249,900-$750,000

Closed-31 $203,000-$540,000

St Charles/ Campton Hills-

New-20 $250,000-$1,200,000

Closed-20 $191,900-$1,600,000

Sycamore-New 11 $149,900-$450,000

Closed-9 $253,000-$502,000

Median list price this week is $350,000. Last week it was $365,000

Median Closed price this week is $360,000. Last week it was $360,450.

Contracts accepted this week

Contracts accepted this week on single family homes were up. 340 this week compared to 328 the week before. It is a great time to sell!

Look at the communities sellers accepted the most contracts this week:

Aurora-49 Bolingbrook-15

Geneva-20 Montgomery-14

Naperville-54 Oswego-26

Plainfield-41 St Charles/Campton Hills-25

Sycamore-14 West Chicago-11

Yorkville-16

1 short sale was accepted by a seller on a single family home. It was in Sycamore. Now it will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 10 with 48 hours and 4 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling, and closing on their current home. 1 with a kick-out clause of 72 hours, 3 with 48 hours and 1 with 24 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 236 278 340

Totals 3339 3556 4789

The closed column is the most important one. This is actual numbers. The new and contracts accepted could be counted more than once if a home is relisted as new, or has a contract accepted, and then it does not make it through the home inspection and attorney review period. It could get relisted again, and then another contract accepted.

Check back with us every Saturday for the real estate market update. At the end of each month we will take a look back at 2020 and 2019 so you an 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.

It is a great time sell! Prices are increasing. Request a home valuation and give us some information about your home, and what has been recently updated. We will provide you with a net proceeds 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.

Are you thinking about buying this year? You need to talk to a loan officer and submit all your financial information so they can get you pre-approved. You need to take this extra step and get pre-approved with the market right now. Homes are selling very fast with multiple offers. You need to be ready to go look as soon as a home hits the market, or it will be gone. The loan officer will give you a letter showing what you qualify for, and what type of loan. This will go with an offer when you find a home.

Resources:

One of the IDHA programs might help payoff student debt, and another one if you stay there at least 5 years you might not have to pay it back. It is worth your time to check them out.

Do you need recommendations for loan officers, real estate attorneys or home inspectors? We can provide a few of each so you can decide who you want to work with.

All data information used is from our multiple listing service MRED, LLC.

2021 real estate market update week 18. 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

2021 Real Estate Market Update Week 16

Posted on April 24, 2021April 24, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 16

2021 real estate market update week 16. New listings of single family homes were down this week. 232 this week compared to 241 the week before. We are having an extreme housing shortage so any decrease is very sad. I don’t know what else to say. Too many buyers are still looking for a home.

Closed listings of single family homes was exactly the same as new listings and up from last week. 232 this week compared to 222 the week before. Next week is the last week of the month so it should increase even more next week.

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

Aurora-New 32 $85,000-$669,000

Closed-43 $143,000-$710,000

Bolingbrook-New 10 $260,000-$629,910

Closed-11 $219,900-$360,000

Geneva-New 9 $229,900-$725,000

Closed-13 $285,000-$698,938

Naperville-New 47 $319,000-$1,450,000

Closed-41 $162,000-$1,375,000

Oswego-New 9 $235,000-$505,000

Closed-10 $235,000-$400,000

Plainfield-New 37 $220,000-$1,700,000

Closed-25 $206,000-$1,105,000

St Charles/Campton Hills-

New-23 $229,000-$849,900

Closed-16 $239,000-$1,050,000

Yorkville-New 8 $238,000-$655,000

Closed-17 $260,000-$480,000

Median list price this week was $350,000 and median closed price was $352,000. Last weeks median price was $370,000 and last weeks median closed price was $354,000. So median prices were down this week.

Contracts accepted this week

Contracts accepted on single family homes was down this week. 344 this week compared to 359 the week before. Last week new listings were down so that contributed to less contracts accepted this week.

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

Aurora-50 Batavia-13

Bolingbrook-20 Geneva-14

Montgomery-11 Naperville-79

Oswego-26 Plainfield-47

St Charles/Campton Hills-32 West Chicago-10

Yorkville-12

1 short sale was accepted by a seller this week on a single family home. It was in Aurora. Now it will get 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. 3 with a kick-out clause of 72 hours, 6 with 48 hours and 2 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 48 hours and 1 with 24 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 501 414 655

Totals 2598 2766 3717

The closed column is the most important column to keep track of. These are actual numbers. New and contracts accepted can sometimes be counted more than once if they were relisted as new or if a contract accepted does not make it past the home inspection, attorney review or appraisal. They can go back on the market and get counted again.

Some of the closed were homes that carried over into the new year.

Check back with us every Saturday for the 2021 real estate market update. Next Saturday is the last week of the month and we will be comparing to 2020 and 2019 so you can see how things are 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.

Will you be selling this year? Request a home valuation and give us some detalls about your home and let us know about any updates that you have completed recently. We will provide you with a net proceeds 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 this year? You need to be ready to go with a pre-approval letter from your loan officer showing what you qualify for a what loan type. This will go with an offer when you find a home. The market is moving very fast right now so the letter can not be older than 30 days or get it updated. You do not want to wait until you find a home or you could miss out on a home. When a home hits the market you have to be ready to go because so many of them are getting multiple offers on them right away.

Resources:

1 of the IDHA programs might help out with student debt and another one if you live there 5 years might be forgiven. It is worth taking a look at them.

If you need recommendations for loan officers, home inspectors, real estate attorneys let us know. We can recommend a few of each so you can decide who you want to work with.

2021 real estate market update week 16. 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

2021 Real Estate Market Update Week 12

Posted on March 27, 2021March 27, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 12

2021 real estate market update week 12. New listings of single family homes were up. 222 this week compared to 171 the week before. Increases are always exciting. We are hoping this picks up steam so there are homes to show buyers that are getting impatient. Too many have multiple offers the same day they are listed.

Closed listing of single family homes went down. 209 this week compared to 226 the week before. The last 3 days business days of the month are next week so there should be an increase then.

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

Aurora-New 26 $120,000-$1,499,000

Closed-27 $115,000-$553,000

Bolingbrook-New 13 $245,900-$799,900

Closed-12 $165,000-$474,809

Geneva-New 8 $325,000-$1,639,900

Closed-10 $292,000-$617,000

Naperville-New 50 $295,000-$1,745,000

Closed-41 $260,000-$1,800,000

Oswego-New 11 $175,000-$749,500

Closed-15 $206,000-$1,500,000

Plainfield-New 29 $219,999-$599,999

Closed-25 $200,000-$781,624

St Charles/Campton Hills-

New 25 $240,000-$1,895.000

Closed-16 $285,000-$617,500

You should be able to click on the photo above to make it larger so you can see all the communities that had activity this week. You might have to adjust what community you are looking at depending on what price range you are looking for.

Contract accepted this week

Contracts accepted this week on single family homes were slightly down. 293 this week compared to 304 the week before. You can see more contracts were accepted this week than new listings. This is the problem with low inventory. As soon as they come on the market they are gone and then some.

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

Aurora-34 Bolingbrook-19

Geneva-15 Naperville-75

Oswego-17 Plainfield-28

St Charles/Campton Hills-21 West Chicago-10

Yorkville-14

1 short sale was accepted on a single family home this week. It was in Montgomery. Now it 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. 4 with a kick-out clause of 72 hours, 6 with 48 hours and 1 with 24 hours.

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

Multiple offer situations has decreased these contingencies. Seller’s are looking for the offer with the least amount of hurdles to get through to get to closing.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 801 825 1146

Totals 1905 2078 2753

Look at the difference in the months so far. The closed column is the most important column because that is actual numbers. New listings can be relisted and contracts accepted not always make it past the home inspection and attorney approval time period. They can go back on the market and then contract pending again.

This is the last full week of the month but I think I will wait until next week to take a look back to 2020 and 2019. There is 3 business days next week still in March so I will wait.

Check back with us every Saturday for the 2021 real estate market update and at the end of each month for a comparison to the previous 2 years so you can see how this year is going.

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.

If you have been waiting for Spring market to put your home up for sale you don’t need to wait. It is here! There is not enough homes on the market and the prices are rising because of it. Request a home valuation and let us know about any updates that have been completed lately that might increase the value. We will provide you with a net proceeds 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.

Are you wanting to buy a home this year? You need to be ready to go with a letter from a lender showing what you qualify for in price and what type of loan. Homes are moving quickly now and you will not have time to look and then get this from a loan officer. When a home hits the market that fits your criteria you need to be ready to go look and write an offer. They are going that quickly.

Resources to check out:

If you are looking for other information let me know and I will point you in the right direction. We can make recommendations for a few loan officers, home inspectors and real estate attorneys. You can decide which ones you want to work with.

2021 real estate market update week 12. 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

2021 Market Update Week 11

Posted on March 20, 2021March 20, 2021 by Kristine Heiman, Designated Managing Broker

2021 Market Update Week 11

2021 market update week 11. New listings on single family homes were down this week. 171 this week compared to 218 the week before. We are going in the wrong direction. Today is the first day of Spring. We should be listing more not less homes. Seller’s where are you? Contact me as soon as possible.

Closed listings of single family homes were up this week. 226 this week compared to 177 the week before. We are heading towards the end of the month when most buyers want to close. They should increase next week as well.

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

Aurora-New 16 $99,900-$699,000

Closed-21 $140,000-$544,000

Bolingbrook-New 12 $229,700-$410,000

Closed-12 $217,000-$438,820

Geneva-New 7 $239,900-$574,900

Closed-12 $259,000-$605,000

Naperville-New 53 $269,900-$3,000,000

Closed-51 $287,500-$1,304,000

Oswego-New 5 $269,900-$509,900

Closed-15 $220,000-$505,000

Plainfield-New 24 $183,000-$629,000

Closed-27 $195,000-$584,652

St Charles/Campton Hills-

New 14 $199,900-$1,450,000

Closed-17 $212,100-$1,200,000

Yorkville-New 6 $240,000-$425,000

Closed-10 $240,000-$414,000

You should be able to click on the photo above to see the other communities and price ranges. You might need to look at these other communities that are not your first choice to find a home. They are going fast though everywhere.

Contracts accepted this week

Contracts accepted on single family homes were up this week. 304 accepted this week compared to 289 the week before. Buyers are fighting over the listings that are available. Multiple offers are here to stay until more homes come on the market.

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

Aurora-44 Bolingbrook-20

Geneva-18 Montgomery-13

Naperville-57 Oswego-12

Plainfield-47 St Charles/Campton Hills-22

Yorkville-17

2 short sales were accepted by seller’s this week. 1 each in North Aurora and Sycamore. Now they will be submitted to the lender to see if they will also accept.

Seller’s accepted contracts this week that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours, 6 with 48 hours and 4 with 24 hours.

Also, a seller accepted a contract that is contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours.

I really thought it would happen sooner that seller’s would not accept contracts that buyer’s still had to sell their home and close. With all the competition out there and multiple offers seller’s are looking for the offer that has as few hurdles as possible to get past.

2021 market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 579 616 853

Totals 1683 1869 2460

Check back with us every Saturday for the market update. At the end of the month I will compare to 2020 and 2019 so you will have something to compare to so you can see how the market is going.

March is not even over yet and all the totals look like they will be higher than the previous 2 months. We need to at least double the new listings though.

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 any updates you have recently completed. We will let you know what your home is worth in today’s market. Provide you with a net proceeds 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? Contact a loan officer with all your financial information to get prequalified. You need to have everything in place and ready to go just in case you find a home. Multiple offers are the norm right now so you might not want to look at the top of your price range unless you have more cash to put down. So many homes are getting offers above the listed price because of low inventory of homes for sale.

Resources:

Let us know if there is other information that you are looking for. I would be happy to point you in the right direction. If you need recommendations for loan officers, home inspectors or real estate attorneys. We can give you a few of each to contact to see which one you would prefer to work with.

2021 market update week 11. 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