Fox Valley home prices January 29 2022

Posted on January 29, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices January 29 2022

Fox Valley home prices January 29 2022. The market continues to be very tight. It is awesome for seller’s, but trying for buyer’s.

New listings of single family homes are pretty consistent with the week before. 112 this week compared to 110 the previous week.

Closed listings this week 121, last week 122.

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

Aurora-New 15 $170,000-$500,000

Closed-15 $125,550-$394,000

Bolingbrook-New 11 $225,000-$525,000

Closed-9 $215,000-$630,000

Naperville-New 15 $280,000-$2,239,000

Closed-14 $315,000-$775,000

Plainfield-New 13 $265,000-$665,990

Closed-13 $200,000-$523,797

Click on the photo above to see the activity in the other communities.

Financing used, median prices and 2,000 SF or more

The median list price this week $329,900, last week $369,995

Closed median price this week $325,000, last week $354,000

Conventional financing was used to close 74 homes with a median price of$344,000, last week 89 homes at median price of $374,900.

Conventional financing used January 29 2022

Cash was used to close 18 homes at median price of $197,750, last week 15 homes at median price of $295,000

FHA financing was used to close on 18 homes at median price of $250,000. last week 9 homes at median price of $320,710.

VA financing was used to close on 11 homes at median price of $387,000, last week 9 homes at median price of $300,500.

Homes that were at least 2,000 square feet or more closed on 59 at median price of $394,990, last week 71 homes at median price of $404,000.

Minimum price for 2,000 or more square feet this week closed at $$185,300, last week $280,000. What a difference a week makes!

This gives you an idea of pricing in the Fox Valley area, and what type of financing is mostly accepted by the seller at this time. Every seller is different, with different circumstances. It is best to find out what they are looking for to get your offer accepted.

Contracts accepted this week

Contracts accepted this week are slightly up. 178 this week compared to 163 the previous week.

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

Auroro-24 Naperville-22

Plainfield-22 St Charles-12

Winfield-10 Yorkville-15

1 short sale was accepted by a seller in Minooka this week. 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. 1 with a kick-out clause of 72 hours and 1 with 48 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 and 1 with 48 hours.

2022 by the month and a look back at 2021 and 2020.

2022

Month New Closed Contracts accepted

January 422 492 623

2021

January 543 649 829

2020

January 1105 566 858

Can you imagine if we had 1105 new listings this year? Our buyer’s would be in heaven!

Check back with us every Saturday for the real estate market update. At the end of each month we will look back at the previous 2 years so you have something to compare to.

You can see why prices are increasing the way they are with a market that is this tight with homes on the 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.

Request a home valuation to see what your home is worth in today’s market. You will be provided with a net proceeds that shows you the expenses to sell and what you might walk away with. 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 patience is needed. Plan ahead of when you need to move. Get all your financial information together and get it to a loan officer to get pre approved. Without this step done you will lose out on a home by trying to do it when you find one. Keep updating it every 30 days to make sure it is current.

Resources:

Types of loans and the process

VA loans and the requirements

Current interest rates

Down payment assistance

IHDA programs

Check with your loan officer for the current rates they are offering with your credit score. They will help you if you need to improve it.

All data used is from our MLS system MRED, LLC.

Fox Valley home prices January 29 2022. Have an amazing week!

Kristine Heiman, SFR, SRS, AHWD, C2EX

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Search for a home today!

Fox Valley home prices January 15 2022

Posted on January 15, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices January 15 2022

Fox Valley home prices January 15 2022. This is the 2nd full week of 2022. The real estate market is off to a slow start with new listings. 94 this week compared to 106 the previous week.

Closed listings this week are staying consistent. 127 this week compared to 122 the previous week.

January and February are usually slower months. It is a great time to list your home now if timing is not an issue. You can get ahead of the spring market. Buyers are still out there waiting for something to come on the market.

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

Aurora-New 14 $194,500-$679,000

Closed-14 $80,000-$515,000

Naperville-New 19 $379,900-$1,499,500

Closed-20 $205,000-$1,333,000

Plainfield-New 8 $289,900-$585,658

Closed-13 $285,000-$520,000

St Charles-New 8 $179,900-$707,000

Closed-15 $150,000-$1,052,500

Financing used, median prices and 2,000 or more square feet

The median list price of single family homes this week was $350,000, last week $362,500.

Closed median price this week was $331,000, last week $367,500.

Conventional financing is still the most used or accepted by seller’s. 90 this week with a median price of $365,000, last week 83 at $408,000 median price.

Cash was used for 18 homes to close this week with a median price of $282,500, last week 17 at $355,000 median price.

Conventional and Cash used January 15 2022

FHA was used for 18 homes to close at a median price of $258,500 this week, last week 14 closed with $270,500 median price.

VA financing was used to close 1 home at a price of $432,990 this week, last week 6 homes closed at $344,495 median price.

FHA and VA financing used January 15 2022

Buyers looking for a single family home that is at least 2,000 or more square feet closed on 70 homes at a median price of $434,000 this week, last week they closed on 76 homes at a median price of $465,750.

The minimum price for 2,000 square feet or more closed this week at a price of $235,000, last week $240,000.

2000 Square feet or more January 15 2022

2022 by the month

Month New Closed Contracts accepted

January 200 249 282

Check back with us every Saturday. At the end of each month we will compare to 2021 and 2020 so you can see how the market is doing.

Contracts accepted this week

Contracts accepted this week on single family homes was up. 172 this week compared to 110 the previous week. Buyers are out there waiting for homes to come on the market. So many of them were in multiple offer situations on homes that were not chosen and are still looking. No need to wait to put your home on the market.

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

Aurora-29 Bolingbrook-15

Naperville-19 Plainfield-27

St Charles-10

These communities are consistently on this list every week.

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. 5 with a kick-out clause of 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, 1 with 48 hours and also 1 with 24 hours.

If you need me to explain what this means just give me a call and I will be happy to explain it to you.

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.

Do you need help with a divorce situation or an estate? If you want to know what your next steps are call us and we will explain the process. Of course you will also need to contact a real estate attorney.

Request a home valuation to see what your home is worth in today’s market. We will also give you an estimate of what your expenses might be to sell. When an offer comes in we will update this when we know all the terms so you can make a good decision.

Thinking about buying a home this year? Plan ahead! Contact a loan officer and get them all your financial information so they can get you pre approved. Then you will be ready to start looking.

Resources:

Types of homes and the process

VA loans and the requirements

Current interest rates

Down payment assistance

IHDA programs

Check with your loan office to see what interest rate you qualify for with your credit score. If you need to bring your score up to get a better rate they can help you. Ask them if they offer any assistance.

All data used is from our MLS MRED, LLC.

If you would like to be set up to receive listings let us know what area you are looking for, the price range, and how many bedrooms you need. Any other things that you are looking for that you would like in your search. You have choices to get the information as it hits the market or you can choose to receive it at certain times of the day.

We want to make the home buying or selling process as good of an experience as we can. We have had years of experience and stay on top of things.

Fox Valley homes prices January 15 2022. Have a great week!

Kristine Heiman, SFR, SRS, AHWD, C2EX

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Search for homes today!

Fox Valley home prices January 1 2022

Posted on January 1, 2022January 1, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices January 1 2022

Fox Valley home prices January 1 2022. Happy New Year! We wish you a healthy, prosperous and happy year ahead. Hopefully you will keep an eye on the market with us and jump in when you are ready. Just let us know and we will be happy to help with all of your real estate needs.

The last week of the year was slow with new listings. 42 this week compared to 43 the previous week. That is 2 holiday weeks in a row. Now to take down all the decorations and get back to normal.

Closed listings for this last week of the year was slightly down. 174 this week compared to 186 the week before.

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

Aurora-New 8 $160,000-$485,000

Closed-35 $114,000-$491,000

Batavia-Closed 10 $201,000-$573,000

Bolingbrook-New 4 $319,500-$500,000

Closed-12 $180,000-$850,000

Montgomery-New 1 $239,900

Closed-13 $185,000-$390,000

Naperville-New 6 $419,000-$1,225,000

Closed-19 $340,000-$820,000

Plainfield-New 4 $270,000-$672,400

Closed-20 $203,000-$675,000

Yorkville-New 2 $199,500-$276,600

Closed-12 $265,000-$500,000

Let us know what community you are looking for and we can get you set up to receive listings as they hit the market.

Financing most used, median prices and 2,000 square feet or more

Median list price of single family homes this week was $324,950, last week $339,000.

Closed median price this week was$326,000, last week $335,500.

Conventional financing was used to close 121 homes this week with a median price of $335,000, last week 138 at median price of $350,500.

Cash was used to close 16 homes this week with a median price of $267,500, last week 11 at median price of $291,500.

FHA financing was used to close 23 homes this week at median price of $251,500, last week 28 homes at median price of $256,500.

VA financing was used to close 13 home this week at median price of $327,000, last week 7 homes at median price of $361,000.

VA financing January 1 2022 — VA financing used

People are looking for homes with more square footage than they currently have. 83 homes closed this week that were looking for 2,000 square feet or more at a median price of $420,000, last week 99 homes at median price of $412,500. The minimum price of home closed this week of 2,000 square feet or more at a price of $239,900, last week $239,000.

2000 SF or more January 1 2022 — 2000 SF or more

Contracts accepted this week

Contracts accepted this week were down. 101 this week compared to 120 the previous week.

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

Aurora-22 Bolingbrook-12

Naperville-12 Plainfield-14

No short sales were accepted by seller’s this week. That does not mean that there are not any out there on the market. Most homes right now have appreciated enough that even if you are struggling you can payoff the loan and might even have money left over.

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

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 1288 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

September 1083 1411 1251

October 715 973 930

November 557 854 931

December 349 1044 652

Totals 10572 12919 13553

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

September 1176 1503 1503

October 843 1116 1159

November 567 985 699

December 513 971 783

Totals 12343 11869 14146

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

December 496 638 497

Totals 15129 10250 11847

Inventory of homes for sale decreased all 3 years. Closed homes went up all 3 years and so did prices because of the decrease in inventory. This give you a good look at why prices are rising. There are not enough homes built to satisfy the demand. This is not just locally. It is nation wide. More homes need to be built or commercial property that is vacant needs to be modified to accommodate housing needs.

Check back with us every Saturday for the real estate market update. At the end of each month we take a look back at the previous 2 years so you can see how the market 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.

Is 2022 the year you will want to make a move? Request a home valuation to see what your home is worth in today’s market. We will give you an estimate and 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. Let us know a little bit about your home and what has been updated recently.

Thinking of buying a home this year? Plan in advance it might take a while for the right home to come on the market that meets your needs. Contact a loan officer and get them all your financial documents so they can get you pre approved. They will give you a letter showing what price will work for you and what type of financing so we can show the seller that you do qualify for their home when the time comes to make an offer. You need to be ready to go in this market.

Resources:

Check with your loan officer for the rates they are willing to give you with your current credit score. They can help you increase your score if needed.

If you need recommendations for loan officers, real estate attorneys or home inspectors we would be happy to give you a few to contact and you can decide who best to work with.

Look for us on Facebook and click on the “shop now” to search for homes anytime you like. Look for the drop down arrows to change what type of home and other options.

All data is from our MLS MRED, LLC

Fox Valley home prices January 1 2022. Happy New Year! Have an awesome week ahead.

Kristine Heiman, SFR, SRS, AHWD, C2EX

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Search for homes today!

Fox Valley home prices December 25 2021

Posted on December 25, 2021December 25, 2021 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices December 25 2021

Fox Valley home prices December 25 2021. Merry Christmas! New listings of single family homes are way down. 43 this week compared to the previous week 84. When it gets close to the holidays it slows down.

Closed listings are down, but not that much. 186 this week compared to the previous week 230. Next week is the last week of the year.

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

Aurora-New 7 $170.000-$899,000

Closed-28 $135,500-$718,000

Bolingbrook-New 5 $215,000-$450,000

Closed-19 $230,000-$531,000

Naperville-New 3 $325,000-$484,900

Closed-25 $298,000-$1,555,000

Oswego-New 1 $349,000

Closed-12 $230,000-$570,170

Plainfield-New 5 $290,000-$740,000

Closed-20 $197,500-$560,000

Yorkville-New 8 $265,000-$600,000

Closed-11 $235,000-$450,000

Financing, median prices and 2,000 square feet or more.

The median list price of single family homes this week was $339,000, last week $349,900.

Closed single family homes median price was $335,500, last week $357,500.

138 of the 186 homes closed using Conventional financing this week with a median price of $350,000, last week 164 at $380,000.

Cash was used to closed 11 homes this week with a median price of $291,500, last week 30 at $332,500.

FHA financing was used to close 28 at a median price of $256,500, last week 23 at $279,000.

VA financing was used to close 7 homes with a median price of $361,000, last week 13 at $375,000

Homes that were 2,000 square feet or more closed 99 with a median price of $412,500, last week 143 closed with median price of $420,000. Minimum price was $239,000, last week $233,500.

Contracts accepted this week.

Contracts accepted this week on single family homes was down. 120 this week compared 143 the previous week.

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

Aurora-15 Naperville-19

Plainfield-21

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. 2 with a kick-out clause of 72 hours, 2 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. 3 with a kick-out clause of 72 hours.

2021 by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 629 1387

May 1088 1288 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

September 1083 1411 1251

October 715 973 930

November 557 854 931

December 307 870 551

Totals 10530 12448 13452

Next week is the last week of the year. We will compare to 2020 and 2019 so you can see how this year did compared to the previous 2 years. You will see more closed homes this year than the previous 2 years even with such low inventory.

Buyers are still out there looking for homes to come on the market. So many of them lost out to multiple offer situations.

2022 looks to be more of the same. There is a shortage of homes across the nation. Until more homes are built or converted we will see prices increase.

Check back with us every Saturday for the real estate market update.

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.

If you are thinking about buying a home you need to get pre approved with a loan officer. Get all your financial information together and get it to them so they can get your pre approved. In this market you have to be ready. If you have already gone through this make sure it is up-to-date. The pre approval letter needs to be 30 days or less.

Request a home valuation if you are thinking about selling. Tellus about your home and what has been recently updated. We will let you know what your home is worth in today’s market and give you and estimate of expenses to sell. The net proceeds will be updated when an offer comes in and we know all the terms.

Resources:

Check with your loan officer for the rates you will get based on your credit score. If you need to improve your credit score they can help you with that. They also might offer some assistance but you need to ask.

If you are on Facebook you can go to our page and click on the “shop now” button and search for homes there.

All data used is from our MLS MRED, LLC.

Fox Valley home prices December 25 2021. Merry Christmas! Have a great week.

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Search for homes today!

Fox Valley home prices December 11 2021

Posted on December 11, 2021December 11, 2021 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices December 11 2021

Fox Valley home prices December 11 2021. First I want to say how heartbreaking the storms of last night were in multiple states. So much devastation and loss of life. This is such a strange thing to happen in December.

New listings of single family homes were down. 78 this week compared to 102 the previous week. This is extremely low even for this time of year.

Closed listing of single family homes was also down. 210 this week compared to 244 the previous week. Closings should increase as we get closer to the end of the month. Some might even spill over into the new year.

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

Aurora-New 17 $120,000-$999,900

Closed-27 $135,500-$562,000

Bolingbrook-New 6 $264,900-$625,000

Closed-19 $199,900-$440,000

Naperville-New 11 $375,000-$1,265,000

Closed-31 $267,000-$1,180,000

Oswego-New 2 $400,000-$419,900

Closed-13 $215,000-$465,000

Plainfield-New 13 $279,000-$542,580

Closed-30 $263,500-$500,000

St Charles-New 6 $209,714-$775,000

Closed-13 $243,000-$1,550,000

Yorkville-New 5 $239,900-$2,964,000

Closed-15 $235,000-$465,000

Financing most used, median prices and 2,000 or more square feet

Median list price this week $347,000, last week $350,000.

Closed median price this week $332,500, last week $363,942.

Stats December 11 2021 — Stats this week

Conventional financing was used 150 times out of the 210 closed homes with a median price of $360,000, last week 176 at median price of $385,000.

Cash was used 18 out of the closings this week with median price of $287,750, last week 23 at $298,000.

Conventional and Cash December 11 2021 — Conventional and Cash closed this week

FHA was used 35 of the 210 closings this week with a median price of $287,000, last week 27 at $250,000.

VA was used for 7 of the closings with median price of $320,000, last week 13 at $390,000.

FHA and VA December 11 2021 — FHA and VA used this week

Single family homes with 2,000 or more square feet closed 121 at median price of $412,000, last week 144 at $445,450 median price. The minimum price of 2,000 or more square feet closed this week was $240,000, last week $207,000. For people looking for more square footage this gives you an idea of the pricing in the Fox Valley area.

2000 Square feet or more December 11 2021 — 2,000 or more square feet

Conventional financing is still what seller’s are looking for and accepting right now. If your loan officer is qualifying you for something else you might also want them to see what you qualify using this type of financing. They can qualify you for multiple ways of financing. You can try your preferred way first, and have Conventional as a backup.

Contracts accepted this week

Contracts accepted this week were consistent. 141 this week compared to 147 the previous week. Buyer’s are still out there ready to go even with the extremely low inventory. It is still a great time to sell! Very little competition right now.

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

Aurora-21 Bolingbrook-11

Naperville-17 Plainfield-22

1 short sale was accepted this week by a seller. It was in Aurora. Most homes have appreciated enough that seller’s do not have to sell short. They must of run into trouble shortly after purchasing. 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. 1 with a kick-out clause of 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.

Only 4 contracts out of 141 were contingent on the buyer closing or selling and closing on their current home. Either the buyers are 1st time buyers or they could purchase without contingencies other than financing.

2021 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 1288 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

September 1083 1411 1251

October 715 973 930

November 557 854 931

December 180 454 288

Totals 10403 12329 13189

Not all contracts that get accepted close. That is why there is more accepted than closed. Some of them do not make it past the attorney review and home inspection. They go back on the market and get accepted again.

The closed column is the most important one to look at because that is actual numbers for the Fox Valley area.

Prices will keep increasing as long as the inventory remains so extremely low.

You have to be a patient buyer in this market. You have to keep looking at what comes up and be ready to go look. If you can find something that is close to your needs it might be worth going after.

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 anytime soon to find out an estimate of what you home would be worth in today’s market. Tell us about your home and anything that has recently been updated. We will provide you with a net proceeds that gives you idea of what the expenses might be. This will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home? You need to get all your financial information together and get it to a loan officer so they can get you pre approved. They will give you a letter showing what type of loan and what price works out best for you. When you find a home and want to put in an offer this letter will go with the offer so the seller will know you qualify for their home.

Resources:

You need to contact the loan officer you are working with to see what interest rate they are offering you based on your credit score. They will work with you to bring up your score if that is needed.

Do you need recommendations for loan officer, real estate attorney or home inspector? We can give you a few to contact and you can decide who you want to work with.

Guiding you through the process whether buying or selling is what we do to help make the process easier to get through.

All data used is from our MLS MRED, LLC.

Fox Valley home prices December 11 2021. 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

Fox Valley home prices November 13 2021

Posted on November 13, 2021November 14, 2021 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices November 13 2021

Fox Valley home prices November 13 2021. New listings of single family homes are way down. 139 this week compared to 183 the week before. Competition is way down right now if you are thinking about selling.

Closed single family homes this week were also down. 206 this week compared to 230 the week before. This is understandable since we are at the beginning of the month. 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 24 $130,000-$745,000

Closed-42 $135,000-$525,000

Bolingbrook-New 7 $175,000-$500,000

Closed-28 $217,000-$1,020,000

Elburn-New 12 $210,000-$920,000

Naperville-New 14 $222,000-$935,000

Closed-30 $320,000-$1,575,000

Oswego-New 8 $235,000-$500,000

Closed-11 $260,000-$525,000

Plainfield-New 15 $229,900-$674,900

Closed-23 $218,000-$575,000

St Charles-New 16 $250,000-$1,299,000

Closed-19 $180,000-$1,235,000

We hope to see improvement this week with new homes coming on the market.

Financing used, median prices and 2,000 or more square feet

Median list price this week $340,000, last week $350,000.

Closed median price this week $338,749, last week $350,000.

Stats November 13 2021 — Median prices this week

Conventional closed single family homes 140 at a median price of $363,500, last week 149 at $370,000.

Cash closed 29 with a median price of $345,000, last week 22 at $290,000.

Conventional and Cash November 13 2021 — Conventional and Cash

FHA closed 31 with a median price $273,000, last week 48 at $305,000.

VA closed 5 with a median price of $285,000, last week 11 at $271,000.

FHA and VA November 13 2021 — FHA and VA Financing

2,000 or more square feet closed 107 with a median price of $430,000, last week 129 at $420,890. Minimum price this week $139,000, last week $240,000. This gives you an idea of the prices if you are thinking about buying a home with a little bit more space.

2000 SF or more November 13 2021 — 2000 or more square feet

Contracts accepted this week

Contracts accepted this week on single family homes was down. 227 this week compared to 278 the week before. Next week we hope to increase the new listings so there is more available to buyers.

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

Aurora-32 Batavia-13

Bolingbrook-19 Naperville-28

Oswego-14 Plainfield-37

St Charles-17 West Chicago-12

1 short sale was accepted by a seller this week. It was in Aurora. 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. 6 with a kick-out clause of 72 hours, 5 with 48 hours and 1 with 24 hours.

Also, seller’s accepted contracts that are contingent to the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours and 6 with 48 hours.

2021 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 1288 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

September 1083 1411 1251

October 715 973 930

November 322 436 505

Totals 9988 11457 12475

June was the most active month so far this year across the board with new listings, closed and contracts accepted. All signs look like 2022 will be similar to this year. Prices might not go up as fast as they did this year. Until more homes are built or commercial property converted to residential purposes inventory will not increase. There just is not enough homes for the need.

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.

I have been attending our National Association of REALTORS® Conference virtually yesterday, today and tomorrow. They have had some great sessions. Talking about the economy, appraisals in today’s market and so much more. They are holding it out in San Diego. One of my favorite places.

Thinking about selling your home in the near future? Request a home valuation and give us a little information about your home and what has recently been updated. We will let you know what it is worth in today’s market. 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. If you are planning on waiting until after the first of the year. We can update closer to when you are ready.

You might want to plan ahead if you are thinking about buying a home and are wanting to do that by a certain date. You will need to get all your financial information together and get it to a loan officer if you haven’t already done that. You need to get pre approved. They will give you a letter after they are completed that shows what type of loan and how much you qualify for. This will go with an offer when you find a home.

Resources:

You will want to check with your loan officer for the rates that they are currently offering with your credit score.

Do you need recommendations for loan officers, real estate attorney, or home inspector? We can provide you a few of each so you can contact them and decide who you would like to work with.

All data is from our MLS MRED, LLC.

Fox Valley home prices November 13 2021. 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