Fox Valley home prices February 24th
Fox Valley home prices February 24th. We have had some fantastic weather for February. Yesterday it snowed but is already melting today. We might reach 72 degrees on Tuesday. Just incredible for February. We should level off to the 50’s after that.
New listings this week are down. 144 this week compared to 167 the previous week.
Closed listings are consistent. 92 this week compared to 98 the previous week.
Aurora-New 14 $225,000-$500,000
Closed-10 $119,000-$400,000
Elgin-New 13 $129,900-$725,995
Closed-8 $215,000-$664,430
Naperville-New 21 $340,000-$3,450 000
Closed-11 $545,000-$7,550,000
Plainfield-New 11 $365,000-$1,050,000
Closed-13 $285,000-$630,000
Yorkville-New 23 $384,990-$654,674
Closed-7 $355,000-$455,000
Other communities had activity this week. Please look at photo above to see the price ranges in those communities.
Financing used, median prices, and 2,000 SF or more
Median list price this week $444,900, last week $469,990.
Closed median price this week $389,900, last week $447,500.
Conventional financing was used to close on 64 homes this week at median price $397,500 with 47 days average market time, last week 80 homes at median price $467,495 with 51 days average market time.
Cash was used to close on 16 homes this week at median price $482,495 with 126 days average market time, last week 5 homes at median price $472,000 with 57 days average market time.
FHA financing was used to close on 9 homes this week at median price $352,000 with 34 days average market time, last week 9 homes at median price $349,999 with 85 days average market time.
VA financing was used to close on 3 homes this week at median price $389,900 with 65 days average market time, last week 3 homes at median price $350,000 with 71 days average market time.
2,000 SF or more closed on 59 homes this week at median price $499,990 with 66 days average market time, last week 64 homes at median price $528,000 with 67 days average market time. Minimum price this week $264,000, last week $267,000.
Conventional financing continues to be the way to go still. Cash seems to be slowing down slightly.
Under contract this week
Homes that went under contract this week are up. 184 this week compared to 157 the previous week.
Aurora-26 Bolingbrook-12
Elgin-18 Naperville-30
Plainfield-20 St Charles-11
No short sales this week accepted by seller’s.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 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. 1 with a kick-out clause of 72 hours and 1 with 48 hours.
Median price of homes that went under contract this week $440,836 with 41 days average market time, last week $414,900 with 39 days average market time.
2024 by the month
Month New Closed Under contract
January 576 523 599
February 456 262 518
Totals 1032 785 1117
Check back with us every Saturday for the real estate market update for the Fox Valley area of Illinois. At the end of each month we will also take a look back at 2023 and 2022 so you have something to compare it to.
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All data provided today was downloaded from our MLS, MRED, LLC. It changes throughout the day.
Fox Valley home prices February 24th. Have an awesome week!
Kristine Heiman, Designated Managing Broker
SFR, SRS, SRES, AHWD
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101