2021 market update week 2

Posted on January 16, 2021 by Kristine Heiman, Designated Managing Broker

2021 market update week 2

2021 market update week 2. New listings of single family homes are staying consistent into this second week of the year. 139 this week compared to 136 the week before. Now we need to try increase the number of homes so we can meet the buyer demand.

Closed homes this week were almost identical. 168 this week compared to 167 the week before. Closings should increase as we head 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 12 $158,900-$525,000

Closed-21 $110,990-$400,000

Bolingbrook-New 10 $199,900-$939,000

Closed-24 $174,000-$388,000

Naperville-New 35 $350,000-$1,450,000

Closed-20 $345,000-$1,290,000

Oswego-New 12 $210,000-$419,900

Closed-7 $200,000-$467,500

St Charles/Campton Hills-

New-10 $219,900-$1,275,000

Closed-15 $260,000-$665,000

You should be able to click on the photo above to make it bigger so you can see the other communities with activity this week.

Contracts accepted this week

Contracts accepted this week were much higher. 179 this week compared to 159 the week before. Usually things slow down this time of year but with the extremely low inventory that continues buyers are not slowing down. They know they have to keep up with the market or they will lose out.

It will continue to be a seller’s market until we see inventory improve drastically.

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

Aurora-28 Bolingbrook-11

Naperville-28 Oswego-13

Plainfield-21 Yorkville-13

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

Seller’s accepted contracts that are contingent on buyer closing on their current home. 5 with a kick-out clause of 72 hours and 3 with 48 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours, 2 with 48 hours and 1 with 24 hours.

2021 by the month

Month New Closed Contracts accepted

January 275 335 338

We will update this every Saturday and at the end of each month we will compare to the previous 2 years so you can see how things are 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.

Buying a home can be very exciting. If you haven’t already you need to contact a loan officer to get prequalified. Get 2 years of tax returns, pay stubs, bank statements, credit card information and any other payments you make monthly together. Scan them if you can so you can submit them. After they are finished they will provide you with a letter that says what type of loan that will work out best for you and what price. We will submit this letter with an offer when you find a home.

Thinking about selling this year? It is an excellent time to sell. Prices are up because of low inventory. Homes are moving quickly if they are market ready. Request a home valuation so we can let you know what it is worth in today’s market. We will provide you with a net proceeds that shows you an estimate of expenses. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Resources to check out:

IF there is any other information that you are looking for let us know and we would be happy to point you in the right direction. We are here to guide you through the process.

2021 market update week 2. 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 1

Posted on January 9, 2021 by Kristine Heiman, Designated Managing Broker

2021 market update week 1

2021 market update week 1. It is the first full week of 2021. New listings of single family homes almost doubled this week. 136 this week compared to 73 the week before. Now that we are past the holidays things should get rolling along.

Closed single family homes this week were slightly down. 167 this week compared to 178 the week before. Not too bad for the first week of the year. Last week buyers were trying to get closed before the end of the year.

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

Aurora-New 10 $145,000-$399,900

Closed-25 $115,000-$565,000

Batavia-New 2 $349,000-$479,900

Closed-12 $279,000-$525,000

Bolingbrook-New 2 $247,300-$269,900

Closed-17 $185,000-$420,000

Geneva-New 6 $174,900-$449,900

Closed-10 $130,107-$1,050,000

Naperville-New 39 $349,900-$10,500,000

Closed-15 $265,000-$900,000

Oswego-New 12 $289,900-$550,000

Closed-$230,000-$422,400

Plainfield-New 25 $250,000-$699,900

Closed-18 $260,000-$528,317

St Charles/Campton Hills-

New-6 $315,000-$1,190,000

Closed-13 $240,000-$565,000

Yorkville-New 4 $275,000-$699,900

Closed-10 $185,000-$575,000

I highlighted the communities with the most activity. You should be able to click on the photo to see all the communities with activity this week.

If you know you will be purchasing a home for a short time period you might want to stick to the communities that constantly have more activity. It all depends on the price range and what you are looking for.

Contracts accepted this week

This first week of 2021 saw buyers back out there again ready to write offers. Sellers accepted 159 contacts this week compared to 120 the week before.

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

Aurora-17 Bolingbrook-12

Geneva-13 Naperville-23

Plainfield-13 St Charles/Campton Hills-21

Only 1 short sale was accepted this week by a seller. It was in Sugar Grove. Now it will get 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, 1 with 48 hours and 1 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 3 with 48 hours.

Resources that might help you

Always check with your loan officer to see what offers they have to help, but these are also worth your time to check.

If there is any other information that you are looking for just let me know I would be happy to point you in the right direction.

Do you need recommendations for loan officers, real estate attorneys or home inspectors? We can recommend a few that we have successfully worked with in in the past.

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 your home this year? Request a home valuation and give us a little information about your home. What updates you have recently completed and when you would like to get your home on the market. 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 so you can make a good decision.

If you are thinking about buying a home this year you will need to get some things together and contact a loan officer to get prequalified. 2 years of tax returns, pay stubs, bank statements, car payment information, credit card information and any other monthly expenses. Keep them in a folder. You will need to probably send this information again once you apply for a loan when you find a home. You will be given a letter from your loan officer showing the type of loan and price that you qualify for. We will need to send this with an offer when you find a home.

2021 market update week 1. 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

Market update Fox Valley week 52

Posted on December 26, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 52

Market update Fox Valley week 52. The market slowed way down this week with the holiday. Only 62 new listings of single family homes this week compared to 100 the week before.

Closed listing were also down. 163 single family homes this week compared to 242 the week before. Next week we should see a big jump because it is the last week of the month and year.

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

Aurora-New 6 $155,000-$280,000

Closed-22 $139,000-$417,500

Bolingbrook-New 2 $249,900-$284,900

Closed-11 $165,000-$420,000

Naperville-New 20 $375,000-$1,475,000

Closed-26 $240,000-$2,900,000

Plainfield-New 4 $239,900-$405,000

Closed-30 $225,000-$728,000

St Charles/ Campton Hills-

New 4 $289,900-$629,900

Closed-15 $75,000-$568,000

Contracts accepted this week

We add in the contracts accepted into the market update Fox Valley to let you see how many buyers are out there ready to write an offer that gets accepted. In normal weeks when this starts to change you know the market is changing either for the better or not so good.

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

Aurora-10 Bolingbrook-11

Naperville-15 Plainfield-14

3 short sales were accepted by sellers this week. 1 in Montgomery and 2 in Plano. Now they 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 and 1 with 48 hours.

Also, sellers accepted contract 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.

There is still confidence in the market that these will go through.

2020 by the month

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

October 843 1116 1159

November 567 985 699

December 440 793 663

Totals 12270 11691 14026

Closed is the most important column. These are actual numbers. September was the best month so far this year for closed single family homes.

New listings sometimes are relisted as a new listing when they are not.

Contracts accepted can sometimes not make it through the home inspection and attorney review period for many different reasons. So both of those columns are not actual numbers.

Next week will be the last week of the year. We will compare this year with 2019 and 2018 so you can see how this year compares to those 2 years.

We had no idea in February how this year would go. Buyers were out there wanting a bigger home for a home office and space for e-learning and a bigger yard. Inventory has remained low so prices have gone up.

Contact us

Call 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.

Thinking about selling your home? Request a home valuation so we can update the value on your home. We will provide a net proceeds that shows an estimate of expenses to sell so you know where you are at. 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 a home in the new year? You will need to get a couple of years tax returns, pay stubs, bank statements, credit card information, car payment information and any other payments you make monthly together and contact a loan officer to get prequalified. They will give you a letter that shows the type of loan and the price that will work out best for you. This will go with an offer when you find the home you like.

Check out some great resources that might help you:

Let us know if there is any other information that you are looking for. We would be happy to point you in the right direction.

Market update Fox Valley week 52. Happy Holidays! 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

Market update Fox Valley week 51

Posted on December 19, 2020December 19, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 51

Market update Fox Valley week 51. New listings this week were down almost 32%. 100 new listings of single family homes this week compared to 147 the week before. Sellers are waiting to get through the holiday at this point. Next couple of weeks it should improve.

Closed listings were consistent with the week before. 242 closed single family homes this week compared to 241 the week before. Next week is the last week of the month and year so there should be an increase then.

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

Aurora-New 13 $179,000-$350,000

Closed-34 $108,500-$675,000

Bolingbrook-New 6 $245,000-$509,900

Closed-10 $165,000-$429,000

Naperville-New 15 $395,000-$1,195,000

Closed-48 $140,000-$2,900,000

Oswego-New 3 $345,000-$450,000

Closed-10 $235,000-$498,000

Plainfield-New 13 $235,000-$554,000

Closed-28 $230,000-$550,000

St Charles/Campton Hills-

New-3 $414,900-$995,000

Closed-23 $196,500-$760,000

Yorkville-New 15 $268,490-$345,000

Closed-13 $217,000-$705,001

Contracts accepted this week

Contracts accepted this week by sellers was pretty consistent. 189 single family homes accepted this week compared to 194 the week before. Definitely some excited buyers and sellers right before Christmas! Finding a home or getting a contract on your home is the first step to reaching your goal.

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

Aurora-27 Naperville-27

Oswego-12 Plainfield-25

St Charles/Campton Hills-17 West Chicago-10

2 short sales were accepted by sellers this week. 1 each in Naperville and Sugar Grove. Now they 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. 4 with a kick-out clause of 72 hours, 9 with 48 hours and 1 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. Only one this week with a kick-out clause of 48 hours.

2020 by the month

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

October 843 1116 1159

November 567 985 699

December 377 630 570

Totals 12207 11528 13933

Closed listings of single family homes is the most important column to look at. This is actual numbers. September was the best month so far this year followed by July then August.

New listing numbers you can’t count on because some of them were canceled and relisted. The same for contracts accepted. Some of them did not make it through the home inspection and attorney review period for many different reasons and were put back on the market and then get a contract again.

It continues to be a sellers market. Low inventory is causing prices to go up and we are seeing multiple offers continue with so many buyers still trying to find a home.

Next week is the last week of the year. We will compare this year to 2019 and 2018 so you can see how this year compares to the previous 2 years.

Contact us

Call us at 630-503-6555 with all your real estate questions. Your goal is out 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 so we can let you know what your home is worth in today’s market. We will provide you with a net proceeds that shows you an estimate of expenses to sell and what you might walk away with at closing. 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 in 2021? You need to contact a loan officer to get prequalified first. Get 2 years of tax returns, pay stubs, bank statements, credit card payments, car payments and any other payments you make monthly together and get them to a loan officer so you can see what price range and what type of loan will work out best for you. They will provide you with a letter that shows what you qualify for and that will go with an offer when you find the right home. Sellers want to know that you qualify for their home before they will consider your offer.

Check out some great resources:

Let us know if you are looking for any other information and we will be happy to point you in the right direction.

Market update Fox Valley week 51. Have a great week and Merry Christmas!

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

Market update Fox Valley week 48

Posted on November 28, 2020November 28, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 48

Market update Fox Valley week 48. New listings of single family homes are down 39.34%. 91 this week compared to 150 the week before. It is a holiday week so that makes it tough. This week we should bounce back.

Closed listings of single family homes were also down 37.34%. 193 this week compared to 308 the week before. When a holiday is at the end of the month closings either get moved up or pushed back.

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

Aurora-New 14 $114,900-$449,995

Closed-27 $60,000-$663,000

Bolingbrook-New 5 $209,900-$345,000

Closed-16 $140,000-$359,000

Naperville-New 12 $384,900-$1,325,000

Closed-25 $330,000-$760,000

Oswego-New 3 $234,000-$435,000

Closed-13 $252,000-$575,000

Plainfield-New 14 $185,000-$849,900

Closed-18 $208,000-$790,000

St Charles/Campton Hills-

New 9 $224,900-$899,000

Closed-19 $138,000-$775,000

Yorkville-New 2 $359,990-$369,000

Closed-12 $239,900-$495,000

Contracts accepted this week

Contracts accepted on single family homes are down by 13.22%. 197 this week compared to 227 the week before. That is not too bad for a holiday week!

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

Aurora 29 Bolingbrook-22

Naperville-35 Plainfield-23

St Charles/Campton Hills-17

Only 1 short sale was accepted this week by a seller. 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. 3 with a kick-out clause of 72 hours, 4 with 48 hours and 1 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, 5 with 48 hours and 1 with 24 hours.

2020 by the month and a look back at 2019 and 2018

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

October 843 1116 1159

November 567 985 699

Totals 11830 10898 13363

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

August 1585 1330 1196

September 1164 765 869

October 1041 738 776

November 897 946 839

Totals 14633 9612 11350

2018

January 808 489 606

February 1040 444 856

March 1549 907 1564

April 1515 836 1278

May 1645 995 1280

June 1828 1720 1474

July 1318 994 1061

August 1294 1032 989

September 1479 1093 1078

October 1042 712 748

November 729 739 653

Totals 14247 9961 11587

Closed is the most important column to look at. These are actual numbers and 2020 is doing the best so far comparing to 2019 and 2018.

New listings for 2020 is way behind 2019 and 2018 but these numbers are not accurate. Some of these have been relisted as new even though they have been on the market. New construction has helped buyers that are looking and just can’t find anything. Homeowners don’t realize how many buyers are out there looking. They think because of the pandemic that housing isn’t moving. We are still getting multiple offers on homes. Inventory of homes for sale has been severely low for a few years causing pricing to really go up this year but interest rates are fantastic.

Contracts accepted numbers are also not accurate. Some of these contracts do not make it through the home inspection and attorney review period. They go back on the market and then get another contract. Buyers in this market know they have to be ready to write a contract or they will lose out on a home.

Check back with us every Saturday for the market update Fox Valley. At the end of each month we will compare to 2019 and 2018.

Contact us

Call us at 630-503-6555 with all your real estate questions. Your goal is our goal. I will do everything I can to help you reach your goal.

Buyers are looking for a home that is ready to move into. If you are thinking about selling make sure you pack everything away. Fresh paint does wonders. Make sure your home is sparkling clean or they will just move onto the next home. Request a home valuation so we can show you what it is worth in today’s market. I will provide you with a net proceeds that shows you an estimate of the expenses of selling a home. This will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home? Get a couple of years tax returns, pay stubs, bank statements and any monthly loans or credit cards you have together. Contact a loan officer and get prequalified. They will provide you with a letter showing the type of loan and what price would work out best for you. This will go with an offer when you find a home so you can show the owner that you do qualify to buy their home. Need a recommendation? Let us know and I will provide you with a few that we have successfully worked with and you can decide who you want to work with.

Check out some great resources:

Let us know if there is any other information you are looking for. We will be happy to point you in the right direction.

Market update Fox Valley week 48. I hope you enjoyed a great Thanksgiving. Have a great week!

Market update Fox Valley week 47

Posted on November 21, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 47

Market update Fox Valley week 47. New listings of single family homes were about the same. 150 this week compared to 152 the week before. This is typical for this time of year before the holidays but this year the amount of buyers out there ready to buy is not getting satisfied. Multiple offers are a common thing right now. Buyers are using escalation clauses, waiving home inspections and trying to be creative to win.

Closings on single family homes this week were up 54.77%. 308 this week compared to 199 the week before. Next week is going to be a short week with the Thanksgiving holiday so that is why there is such an increase.

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

Aurora-New 17 $139,900-$385,000

Closed-41 $70,070-$510,000

Batavia-New 5 $297,500-$489,500

Closed-15 $174,000-$855,000

Bolingbrook-New 10 $169,900-$344,900

Closed-20 $155,000-$507,670

Geneva-New 8 $255,000-$792,000

Closed-19 $235,000-$625,000

Minooka-New 3 $275,000-$288,150

Closed-14 $124,000-$650,000

Montgomery-New 5 $189,900-$289,900

Closed-13 $141,277-$295,000

Naperville-New 26 $299,900-$1,400,000

Closed-44 $270,000-$1,775,000

Oswego-New 12 $299,900-$529,900

Closed-20 $248,000-$525,000

Plainfield-New 19 $184,000-$749,000

Closed-34 $182,500-$565,000

St Charles/Campton Hills-

New-10 $237,900-$889,900

Closed-16 $225,500-$548,000

Yorkville-New 2 $199,000-$299,390

Closed-16 $235,000-$849,000

Most of these communities consistently see higher activity. Is that what you are looking for or a smaller more stable community?

Contracts accepted this week

Contracts accepted this week on single family homes were down 5.02%. 227 this week compared to 239 the week before. With only 152 new listings added last week this turned out better than expected.

Look at the communities sellers accepted the most contracts:

Aurora-33 Bolingbrook-17

Geneva-10 Naperville-34

Plainfield-30 St Charles/Campton Hills-15

West Chicago-12 Yorkville-11

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

Sellers accepted contracts that are contingent on the buyers closing on their current home. 6 with a kick-out clause of 72 hours and 7 with 48 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 also 2 with 48 hours.

Sellers still have confidence in the market to accept these contingencies. It has been a crazy year but the market has been good!

2020 by the month

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

October 843 1116 1159

November 476 792 699

Totals 11739 10705 13363

The closed column is the most important one to look at. These are actual numbers. New and contracts accepted might not be because of listings relisted as new even though they are not. Contracts can get accepted and not make it through the home inspection and attorney review period and go back on the market and then come up as contract accepted again.

Check back with us next week and we will also look back at 2019 and 2018. I do that at the end of each month so you can see how the market is doing compared to those other 2 years.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. I will do whatever I can to help you reach your goal.

Thinking about selling your home? Request a home valuation and we will show you what it is work in today’s market. I 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.

Are you thinking about buying a home? Get your tax returns for 2 years, check stubs, bank statements and anything you pay monthly together and call a loan officer to get prequalified. They will tell you the price range and what type of loan will work out best for your situation. If you need recommendations I would be happy to give you a few names and numbers to contact and you can choose who you want to work with. They will give you a letter showing what you qualify for and that will go with an offer when you find a home. If it is older than 30 days it will need to be updated.

Check out some great resources:

If you are looking for other types of information let me know I would be happy to tell you where to look. Some of the links provided also give you other information that you might be interested in.

Market update Fox Valley week 47. 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

Market update Fox Valley week 45

Posted on November 7, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 45

Market update Fox Valley week 45. New listings of single family homes were down almost 8%. 174 this week compared to 189 the week before. Hopefully next week this will improve. Buyers are still waiting for homes to come on the market. Competition is very low right now so this is the perfect time to sell.

Closed listing of single family homes were also down just under 7%. 285 this week compared to 306 the week before. This is the first week of the month so that is to be expected. Most buyers want to close at the end of the month.

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

Aurora-New 19 $129,900-$525,000

Closed-$45 $120,000-$565,000

Bolingbrook-New 10 $169,900-$425,000

Closed-22 $31,000-$950,000

Geneva-New 8 $289,000-$695,000

Closed-11 $262,000-$625,000

Montgomery-New 7 $159,900-$399,000

Closed-14 $166,500-$345,065

Naperville-New 39 $235,000-$1,500,000

Closed-46 $236,000-$1,090,000

Oswego-New 11 $219,990-$1,799,000

Closed-12 $205,000-$435,000

Plainfield-New 21 $169,900-$549,999

Closed-35 $242,000-$645,000

St Charles/Campton Hills-

New 11 $245,000-$642,700

Closed-23 $188,000-$985,000

Yorkville-New 8 $239,000-$399,900

Closed-14 $164,900-$435,000

Contracts accepted this week

Contracts accepted this week were also down this week just under 13%. 233 this week compared to 267 the week before. Extremely low inventory and now this week going even lower does not help. Buyers are putting in offers and having to deal with multiple offer situations. Increasing prices also does not help. With such low inventory prices have been going up higher and higher. We are even having a hard time coming up with comparables for the increase in prices.

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

Aurora-38 Bolingbrook-15

Montgomery-10 Naperville-33

Oswego-15 Plainfield-23

St Charles/Campton Hills-20 Sycamore-10

2 short sales were accepted by sellers this week. 1 each in Montgomery and Waterman. Now they 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. 9 with a kick-out clause of 72 hours, 7 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. 2 with a kick-out clause of 72 hours and also 2 with 48 hours.

2020 by the month

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

October 843 1106 1159

November 174 285 233

Totals 11437 10198 12897

July was the best month for new listings. September was the best month for closed listings. July was also the best month for contracts accepted.

Closed listings is the one to really look at. This is actual numbers. They definitely closed. New listings sometimes get relisted as new even though they are not new to the market. The same for contracts accepted. The might get accepted and don’t go through to closing and go back on the market.

July used to be a very slow month when most people were gone on vacation. This year because of the pandemic July was very busy. Some people do not realize how active the housing market has been throughout this year.

Check back with us every Saturday for a market update Fox Valley. At the end of each month I compare to the previous 2 years so you have something to compare this year to.

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.

Even with the pandemic it is a great time to sell. Buyers are out there waiting for something to come on the market to see. Request a home valuation and we will let you know what your home is worth in today’s market. We will provide you with a net proceeds that shows you an estimate of expenses to sell. This will be update when an offer comes in and we know all the terms so you can make a good decision.

Thinking about buying a home? You need to contact a loan officer first to see what type of loan and what price range will work out best for you. They will give you a letter showing what you qualify for and it will go with an offer when you find a home. It can’t be older than 30 days or you will need to have the loan officer update it.

Check out some great resources:

Let us know what questions you have or what kind of information you are looking for so we can direct you to it.

Market update Fox Valley week 45. 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