Fox Valley home prices May 7
Fox Valley home prices May 7. New listings of single family homes are up. 255 this week compared to 232 the previous week. A great way to start the month!
Closed listings of single family homes were also up. 241 this week compared to 217 the previous week.
Take a look at the communities with the most activity this week:
Aurora-New 40 $85,900-$625,000
Closed-31 $135,500-$650,000
Bolingbrook-New 17 $254,900-$694,999
Closed-16 $225,000-$695,000
Geneva-New 13 $235,000-$1,299,000
Closed-11 $255,000-$875,000
Naperville-New 43 $350,000-$2,200,000
Closed-52 $300,000-$1,675,000
Oswego-New 14 $315,000-$530,000
Closed-17 $275,000-$750,000
Plainfield-New 26 $280,000-$599,900
Closed-26 $295,000-$670,000
St Charles-New 27 $214,028-$1,799,000
Closed-22 $250,000-$1,085,000
Yorkville-New 15 $229,900-$995,000
Closed-9 $300,000-$699,900
Other communities had activity this week. Please look at the photo above to see the home prices in those communities. You just might find home prices that are more appealing.
Financing used, median prices and 2,000 SF or more
Median list price this week in the Fox Valley area of Illinois is $414,450, last week $399,900
Closed median price on single family homes this week $400,000, last week $393,717.
Conventional financing was used to close on 178 homes at median price of $425750 with 24 days average market time, last week 170 homes at median price of $415,500 with 27 days average market time.
Cash was used to close on 32 homes this week with a median price of $390,500 and 18 days average market time, last week 27 homes at median price of $370,000 with 27 days average market time.
FHA financing was used to close on 25 homes this week with a medium price of $255,000 with 24 days average market time, last week 16 homes at median price of $307,500 with 27 days average market time.
VA financing was used to close on 5 homes with a median price of $590,000 with 18 days average market time, last week 4 homes at median price of $332,500 with 6 days average market time.
2,000 square feet or more closed on 144 homes with a median price of $496,250 with 31 days average market time, last week 140 homes with a median price of $473,142 with 20 days average market time. Minimum price this week on a 2,000 SF home was $200,000, last week $258,000.
Contracts accepted this week
Contracts accepted this week on single family homes were down. 272 this week compared to 325 the previous week.
Look at the communities seller’s accepted the most contracts this week:
Aurora-39 Bolingbrook-27
Geneva-11 Naperville-49
Oswego-19 Plainfield-29
St Charles-15
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. 4 with a kick-out clause of 48 hours, and 2 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 2 with 48 hours.
Median price this week for homes that went under contract was $$399,900 with 22 days average market time, last week median price was $405,000 with 20 days average market time.
2022 by the month
Month New Closed Contracts accepted
January 422 492 623
February 523 520 724
March 734 904 890
April 1168 966 1334
May 255 241 272
Totals 3102 3123 3843
Check back with us every Saturday for the real estate market update here in the Fox Valley area of Illinois. At the end of each month we take a look back at 2021 and 2020 so you can see how this year is going compared to the previous 2 years.
May will need to increase the numbers for new listings if it is going to reach April numbers.
Resources
Click on anything that is in bold letters an underlined and it will take you to the site for the information. If there is information not listed here that you are looking for just let us know and we will point you in the right direction.
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IHDA programs
Check with your loan officer to see what interest rate you will be offered. It depends on your credit score. They will help you if you need to bring up your score.
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 this year you need to contact a loan officer and get them all your financial information. You need to go through the underwriting process so you know what you are approved for before starting to look at homes. You will be at a disadvantage if you do not go through this process. Homes are going under contract quickly and seller’s are looking for a buyer that is ready to go without having to wait to see if you qualify.
Request a home valuation if you are thinking about selling your home. Tell us a little bit about your home and what has recently been updated. We will provide you with a net proceeds that shows you and estimate of expenses to sell. When an offer comes in and we know all the terms we will update the net proceeds so you can make a good decision.
You can sign-up for email alerts to keep an eye on the market.
If you use Facebook you can go to our business page and look for the button “shop now” and search anywhere in Illinois.
You can also contact us and we can set you up to receive listings in real time as soon as they hit the market. Let us know what areas you are looking at. How many bedrooms and other criteria that is important to you.
All data provided today is from our MLS system. MRED, LLC. It updates constantly so the information I downloaded this morning is not the same as it is right now.
Fox Valley home prices May 7. Have an awesome week! The temperatures should increase as the week goes forward.
Kristine Heiman, SFR, SRS, AHWD
Designated Managing Broker
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101
