Fox Valley home prices February 25th

Fox Valley home prices February 25th. Weather here in the Fox Valley area of Illinois is like being on a roller coaster. This next week we will go from 40° to 60° back to 40° again.

New listings are down. 120 this week compared to 169 the previous week.

Closed listings are up. 103 this week compared to 88 the previous week.

Aurora-New 16 $135,000-$710,000

Closed-10 $160,000-$701,000

Naperville-New 19 $450,000-$3,250,000

Closed-12 $345,000-$1,560,000

Plainfield-New 24 $220,000-$595,000

Closed-18 $234,000-$649,900

Yorkville-New 1 $669,000

Closed-10 $330,000-$550,500

Click on the photo above to see other communities that had activity this week. We are just highlighted the communities with the most activity.

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

Median list price this week $400,000, last week $399,990

Closed median price this week $385,000, last week $339,000.

Stats 022523 — Stats for week ending February 25th

Conventional financing was used to close on 70 homes this week at median price $386,500 with 46 days average market time, last week 61 homes at median price $335,000 with 65 days average market time.

Conv 022523 — Conventional financing used to close for week ending February 25th

Cash was used to close on 13 homes this week at median price $415,000 with 45 days average market time, last week 19 homes at median price $270,000 with 69 days average market time.

Cash 022523 — Cash used to close for week ending February 25th

FHA financing was used to close on 12 homes this week with median price $299,500 with 70 days average market time, last week 6 homes at median price $306,500 with 72 days average market time.

FHA 022523 — FHA financing used to close for week ending February 25th

VA financing was used to close on 8 homes this week at median price $465,000 with 46 days average market time, last week 1 homes $423,990 with 53 days average market time.

VA 022523 — VA financing used to close for week ending February 25th

2,000 square feet or more closed on 63 homes this week at median price $450,000 with 58 days average market time, last week 51 homes at median price $450,000 with 63 days average market time. Minimum price this week $245,000, last week $108,000.

2000 SF or more 022523 — 2,000 SF or more closed for week ending February 25th

Conventional financing continues to be the financing to use. We will see if lowering the MIP for FHA loans March 20th will have an impact. Stay tuned.

Under contract this week

Homes that went under contract this week are slightly up. 166 this week compared to 152 the previous week.

Aurora-27 Bolingbrook-11

Naperville-23 Oswego-15

Plainfield-24 Yorkville-11

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 and 3 with 48 hours.

Also, seller’s accepted contract that are contingent on the buyer selling and closing on their current home. 3 with a kick-our clause of 72 hours and 1 with 48 hours.

Homes that went under contract this week had a median price $377,400 with 45 days average market time, last week median price $391,950 with 54 days average market time.

Under contract 022523 — Under contract for week ending February 25th

2023 by the month

Month New Closed Under contract

January 483 326 470

February 503 382 642

Totals 986 708 1112

Next week we will also take a look back at 2022 and 2021 so you can see how this year is going.

Resources

Click on each bullet point to take you to the site for the information.

Check with your loan officer for the interest rate you will be offered. Looking at the current rate is fine but you need to know what interest rate you will be offered. It depends on a few things. One of them is your credit score.

All data was provided by our MLS, MRED, LLC. It changes throughout the day.

Contact us

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

Fox Valley home prices February 25th. Have an awesome week!

Kristine Heiman, Designated Managing Broker

SFR, SRS, SRES, AHWD

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 Ext 101

11 16 19 Market Update Fox Valley

11 16 19 Market update Fox Valley. New listings of single family homes were slightly down this week. 193 this week compared to 220 the week before. Any amount of new listings down has an impact for buyers. That means there are less homes available to them to see. If you are looking for a home over $200,000 you have more to choose from then buyers looking under that amount. We are still very short in inventory for buyers looking under $200,000 price range. If you have a home in that price range to sell this would be a great time to get it on the market.

Closed single family homes were very consistent this week. 173 closed this week compared to 176 the week before. Consistent is a good thing!

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

Aurora -New 21 $85,000-$420,000

Closed-20 $150,000-$564,000

Bolingbrook-New 16 $68,000-$649,900

Closed-11 $129,000-$350,000

Naperville-New 35 $325,000-$1,400,000

Closed-24 $305,000-$1,325,000

Plainfield-New 20 $223,000-$549,000

Closed-20 $145,000-$511,829

St Charles/Campton Hills-

New-11 $249,900-$1,000,000

Closed-15 $195,000-$525,000

These 5 communities are consistently more active than other communities. Is it the schools, shopping, parks or work? There is so many reasons why you choose a community. It might just be the type of housing and price range. Living close to family and friends. Where are you looking and why?

Contracts accepted this week

Contracts accepted this week on single family homes was up this week. 178 this week compared to 168 the week before. It is a good time right now to get into a home before the end of the year. With 2 holidays between now and the end of the year, when businesses are closed, soon we will have to go into the new year. You could start the New Year out right with a new home and have time to get it the way you want it before Spring comes when you will want to be outside getting the yard the way you want it.

Look at the communities that sellers accepted the most contracts:

Aurora-31 Geneva-14

Naperville-33 Oswego-12

Plainfield-22 St Charles/Campton Hills-18

1 short sale was accepted in Naperville this week. Now it will go to the lender to see if they will also accept it as written.

Sellers accepted contracts this week that are contingent on the buyer closing on their current home. 5 with a kick-out clause of 72 hours, 5 with 48 hours and 2 with 24 hours.

Contracts were also accepted by sellers that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours, 2 with 48 hours and 1 with 24 hours.

2019 by the month

Month New Closed Contracts accepted

January 878 407 608

February 1,032 465 832

March 1,731 915 1,375

April 1,594 790 1,307

May 2,004 1,391 1,665

June 1,643 1,253 1,218

July 1,423 1,029 1,090

August 1,585 1,403 1,211

September 1,164 765 869

October 1,259 957 959

November 413 349 346

Total 14,726 9,724 11,480

Contact us

Call us at 630-503-6555 Bobby Burson, Broker ext 105 or Kristine Heiman, Managing Broker ext 101 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goals whether buying/selling a home.

If you are thinking about selling let us update the value of your home in today’s market. We will provide you with a net proceeds that shows the expenses to sell. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Looking to buy a home? The first step is to contact a loan officer to get pre-qualified so you know what type of loan and what price range will work out best for you. We can make some recommendations of loan officers to contact that we have successfully worked with.

Great resources to check out:

Buying a home in a good school district is important even though you do not have kids in school. You always want to be thinking about resale value.

11 16 19 market update Fox Valley. Have a great week!

Kristine Heiman, Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

besthomesfv@gmail.com

Sign up for free with another way to search for a home. I think you will really like all the information you get with this way to search. If you need help in how to navigate it I would be happy to do a video conference call and share my screen with you to show you how. This also has a chat feature.