How many homes closed 2,000 square feet or more week 34

How many homes closed 2,000 square feet or more week 34.  This is one way to search homes that you are looking for if you know less than 2,000 square feet will not work for you.  We will let you know how this week went shortly.

New listings of single family homes was down this week.  221 this week compared to 256 the week before.  So many people are getting the kids in school this past week.  It is a big adjustment especially for the kids that did not attend in-person school last year.  Hopefully things will settle down and get back to thinking about housing.

Closed listings of single family homes were also down.  273 this week compared to 299 the week before.  This is the last full week of the month.  Monday and Tuesday the last days of the month.  We are back to scheduling things around school.  During last year with the pandemic, and kids not attending in-person classes, people were not worrying about the school schedule.

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

Aurora-New 33 $167,500-$690,000

            Closed-43 $90,000-$451,500

Bolingbrook-New 17 $195,000-$415,000

                   Closed-19 $198,000-$544,000

Geneva-New 5 $349,900-$474,000

            Closed-11 $295,000-$680,000

Montgomery-New 8 $212,000-$300,000

                     Closed-10 $217,000-$376,000

Naperville-New 37 $285,000-$1,300,000

                 Closed-52 $245,000-$1,750,000

Oswego-New 11 $249,000-$549,000

             Closed-15 $250,000-$435,900

Plainfield-New 31 $249,000-$774,400

                Closed-40 $180,000-$630,000

St Charles-New 13 $265,000-$990,000

                  Closed-22 $205,000-$990,000

Yorkville-New 12 $219,900-$515,000

               Closed-10 $209,000-$430,000

Financing, median price and 2,000 or more square feet

Median list price this week $355,000, same as the week before.  Closed median price this week $355,000, last week $359,900.  Prices are not changing that much right now.

Homes closed using Conventional Financing this week 199, last week 218. Cash homes that closed this week 33, last week 24.

Homes closed using FHA financing this week 34, last week 47.  VA financing this week 7, last week 10

Out of 273 homes that closed this week 166 of them were 2,000 square feet or more with a median closed price of $423,550, and list price $419,900.   The minimum closed price $207,000 with minimum list price $199,900.  This gives you an idea of what 2,000 square feet costs you here in the Fox Valley area of Illinois.

Contracts accepted this week

Contracts accepted this week were down.  286 this week compared to 300 the week before.  Hopefully after the adjustment of getting back in the routine of school things will go back to normal.  The market is not down that much.

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

Aurora-49                            Bolingbrook-21

Geneva-10                            Montgomery-16

Naperville-35                       Oswego-13

Plainfield-46                        St Charles-19

Sycamore-10                        West Chicago-14

Yorkville-12

No short sales were accepted this week.

Seller’s accepted contracts that are contingent on the buyer to close on their current home.  7 with a kick-out clause of 72 hours, 7 with 48 hours and 3 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 48 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          1228                  1289

June                          1450          1686                  1671

July                           1118           1182                   1210

August                       1109          1203                   1170  

Totals                     7868          8577                  9789

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

August                      1037           1335                    1436

Totals                9244           7294                  10002

2019

Month            

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

Totals                     11531            7163                    8866

More homes have been closed this year than the previous 2 years even with a tighter market.  You can see the steady decline in new listings.  Normally, August is the best month for closings right before school starts.  This year it was June.  It has been a really hard year for buyer’s.  They have had so much competition for homes and not many to choose from.  Prices have gone up so much that some have been priced out of the market.  We hope inventory will improve.

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 before the holidays?  Request a home valuation and tell us a little bit about your home and what improvements have been recently 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.

Do you want to buy a home this year?  You need to contact a loan office that is willing to pre approve you before you find the home.  You need to get them all your financial information.  Pre-qualifying just is not enough anymore.  You need to be ready to go with a letter in hand to go with an offer.  A seller will not consider you without it.  You might also need to show proof of funds.  You can have your financial institution write a letter showing you do have the funds available for the down payment and closing costs.  That might even improve your chances if there is multiple offers.

Resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• IHDA programs

If you need recommendations for loan officer’s, real estate attorney’s or home inspector’s we can give you a few of each and you can decide who you want to work with.

How many homes closed 2,000 square feet or more week 34.  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