Fox Valley home prices February 19 2022

Posted on February 19, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices February 19 2022

Fox Valley home prices February 19 2022. Winter months are usually the slowest time of the year. Hang in there a couple more weeks. Spring market is right around the corner.

The market picked up 27 more listings of single family homes this week than the previous week. 137 this week compared to 110 the week before.

Closed listings saw a small increase as well. 121 this week compared to 107 the previous week.

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

Aurora-New 22 $134,900-$649,900

Closed-18 $104,000-$655,000

Bolingbrook-New 7 $189,000-$519,000

Closed-10 $267,900-$425,000

Naperville-New 23 $305,000-$2,995,000

Closed-20 $320,000-$1,200,000

Oswego-New 11 $250,000-$437,740

Closed-5 $330,200-$416,990

Plainfield-New 15 $129,900-$805,900

Closed-14 $185,000-$859,000

St Charles-New 12 $340,000-$1,200,435

Closed-9 $175,000-$831,000

Other communities had activity that you can check out on the photo above. We can also set you up to receive listings of homes in an area that you choose. Let us know what you are looking for and where and we can set you up to receive as they hit the market so you don’t miss out on a thing.

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

The median list price this week of single family homes was $375,500, last week $345,000.

Homes that closed this week had a median closed price of $374,355. last week $341,000.

Conventional financing was used to close on 88 homes with a median price of $397,262, last week 73 homes with median price of $387,000.

Cash was used to close on 15 homes this week with a median price of $477,500, last week also 15 homes with a median price of $284,500.

FHA financing was used to close on 11 homes with a median price of $258,000, last week 16 homes at a median price of $262,500.

VA financing was used to close on 7 homes at a median price of $330,000, last week 3 homes at a median price of $290,000.

72 homes closed that were 2,000 SF or more this week with a median price of $452,500, last week 58 homes at a median price of $422,495. The minimum price this week $279,900, last week $152,000.

Contracts accepted this week

Contracts accepted this week were slightly up. 187 this week compared to 176 the previous week. Until more homes come on the market the numbers are not going to move very much.

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

Aurora-26 Bolingbrook-14

Montgomery-10 Naperville-31

Plainfield-30

No short sales were accepted this week.

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

The median price of homes that went under contract this week was $369,900 with average market time of 42 days. Last week the median price was $379,900 with average market time of 40 days.

Stats Contracts accepted February 19 2022

2022 by the month

Month New Closed Contracts accepted

January 422 492 623

February 360 392 533

Check back with us every Saturday. Next week will be the last full week of February so we will also include 2021 and 2020 so you can see how this year is going compared to those 2 years.

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 an awesome time to sell! Prices are up since there is so little inventory of homes. Request a home valuation and tell us a little bit about your home. What have you updated recently? We will give you a estimate of what your home would sell for in today’s market. Included will be a net proceeds that shows you an estimate of 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.

Thinking about buying a home this year? Get all your financial information together and get it to a loan officer so they can give you a letter showing what you are pre approved for. Make sure you find a loan officer that will run your information through with their underwriters so you are ready to go. Once you find a home and get it accepted all you need to wait for is updating the title and getting the appraiser out there.

We will guide you through the process every step of the way.

Resources

Types of loans and the process

VA loans and the process

Current interest rates

Down payment assistance

IHDA programs

Check with your loan officer to see what interest rates they are offering you. It depends on your credit score. If you need to work on it they will help you.

All data provided is from our MLS MRED, LLC.

Fox Valley home prices February 19 2022. Have an awesome 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 a home today!

Fox Valley home prices February 12 2022

Posted on February 12, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices February 12 2022

Fox Valley home prices February 12 2022. Consistent it is, but we are waiting for it to let loose. Will that happen this year? So far, we are below last years numbers.

New listings of single family homes is 110, last week 113. That is pretty steady numbers.

Closed listing this week 107, last week 164. The number should increase as we head into the end of the month when most buyer’s want to close.

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

Aurora-New 23 $130,000-$715,000

Closed-18 $150,000-$985,000

Naperville-New 21 $290,000-$1,250,000

Closed-15 $266,000-$826,000

Plainfield-New 13 $235,000-$659,900

The photo above shows the other communities that had activity this week. You can see why it is an awesome time to be a seller. There is no real competition.

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

Median price of new listings of single family homes this week is $345,000, last week $375,000.

Closed this week median price is $341,000, last week $344,000.

Conventional financing was used to close 73 single family homes this week at a median price of $387,000, last week 113 homes at median price of $381,000.

Conventional financing used February 12 2022

Cash was used to close 15 homes this week at a median price of $284,500, last week 23 at a median price of $281,615.

FHA financing was used to close 16 homes this week at a median price of $262,500, last week 22 homes at a median price of $306,000.

VA financing was used to close 3 single family homes this week at median price of $290,000, last week 6 homes at median price of $301,500.

The type of financing you use became a big deal in 2021. There were so many multiple offer situations seller’s had a choice of which offer to accept, and of course, cash always came first. Not everyone has cash to purchase so Conventional was their next choice. It was hard for buyer’s to understand this at first. We would tell them to also get pre approved for Conventional when they would show us that they were pre approved for FHA.

58 single family homes closed that were 2,000 square feet or more this week at a median price of $422,495, last week 98 closed at median price of $426,000. The minimum price that closed this week was $152,000, last week it was $85,000.

More square feet became very important after the pandemic hit. So many people were working from home and needed a home office or just extra space in general.