Fox Valley home prices January 28th

Fox Valley home prices January 28th. Winter has finally arrived in the Fox Valley this week. It has been snowing for the last 3 days. Not too much, just enough to cover the ground.

New listings this week are slightly down. 127 this week compared to 134 the previous week.

Closed listings this week are much higher. 98 this week compared to 69 the previous week.

Aurora-New 15 $149,900-$640,517

Closed-21 $130,000-$642,900

Elburn-New 10 $395,000-$1,295,000

Closed-2 $380,000-$415,000

Naperville-New 18 $300,000-$1,100,000

Closed-18 $280,000-$1,100,000

Oswego-New 10 $215,000-$475,000

Closed-3 $400,000-$500,000

Plainfield-New 24 $279,900-$875,000

Closed-7 $309,500-$649,285

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

Median list price this week $399,990, last week $389,990.

Closed median price this week $387,950, last week $335,000.

Fox Valley home prices January 28th-Stats

Conventional financing was used to close on 72 homes this week at median price $429,250 with 45 days average market time, last week 48 homes at median price $346,265 with 57 days average market time.

Conventional financing used to close for week ending January 28th

Cash was used to close on 14 homes this week at median price $304,762 with 40 days average market time, last week 10 homes at median price $309,000 with 40 days average market time.

Cash used to close for week ending January 28th

FHA financing was used to close on 10 homes this week at median price $328,795 with 91 days average market time, last week 9 homes at median price $269,900 with 39 days average market time.

FHA financing used to close for week ending January 28th

VA financing was used to close on 3 homes this week at median price $433,500 with 64 days average market time, last week 1 home at $450,000 with 76 days average market time.

VA financing used to close for week ending January 28th

2,000 square feet or more closed on 61 homes this week at median price $480,000 with 62 days average market time, last week 34 homes at median price $470,500 with 41 days average market time. Minimum price this week $309,500, last week $286,000.

2,000 SF or more closed for week ending January 28th

Conventional financing continues to be the best choice for financing.

Homes are staying on the market longer than they were, but if they are priced right, and in great condition they are still selling quickly. Fresh paint, deep cleaning, and getting rid of the clutter is your best bet for getting it sold right away. It makes it easier to be ready for showings and more appealing for buyers.

Homes under contract this week

Homes under contract this week are up. 158 this week compared to 122 the previous week.

Aurora-23 Bolingbrook-12

Naperville-26 Plainfield-17

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. 1 with a kick-out clause of 72 hours and also 1 at 48 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 and also 1 at 48 hours.

Median price of homes under contract this week $387,450 with 68 days average market time, last week median price $379,900 with 64 days average market time.

Under contract this week 012823 — Under contract for week ending January 28th

2023 by the month and a look back at 2022 and 2021

2023

Month New Closed Under contract

January 483 326 470

2022

Month New Closed Under contract

January 422 492 623

2021

January 543 649 829

We did better than 2022 for New listings but below 2021. Closed and under contract are way behind 2022 and 2021. Hopefully we will continue to be ahead of last year for New listings. That will help to stabilize pricing.

Resources

Click on each of the bullet points that are bold and underlined to take you to the site for the information. If you are looking for information not listed here, let us know, and we will point you in the right direction.

Check with your loan officer to see what interest rate you will be offered. It depends on your credit score and other things that your loan officer will explain to you. They can also help you bring up your score if you need to.

All data provided today is from our MLS, MRED, LLC. It changes throughout the day as information is uploaded.

Contact us

Call us at 630-503-6555 with all your real estate question. Your goal is our goal.

Fox Valley home prices January 28th. Have an awesome week!

Kristine Heiman, SFR, SRS, SRES, AHWD

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 Ext 101