Fox Valley Real Estate Market Update Week 35

Posted on September 4, 2021September 4, 2021 by Kristine Heiman, Designated Managing Broker

Fox Valley Real Estate Market Update week 35

Fox Valley real estate market update week 35. New listings of single family homes are down. 204 this week compared to 221 the week before. We are not going in the right direction. Things usually slow down when school starts, but then it starts back up again.

Closed listings of single family homes are up. 387 this week compared to 273 the week before. Most of these were probably closed on Monday and Tuesday the last 2 days of the month of August. Most buyers like to close at the end of the month so they can bring less to closings.

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

Aurora-New 22 $169,000-$599,000

Closed-61 $106,000-$705,000

Batavia-New 6 $114,900-$469,900

Closed-12 $229,000-$580,000

Bolingbrook-New 13 $220,000-$614,900

Closed-28 $157,000-$490,000

Geneva-New 7 $285,000-$995,000

Closed-13 $264,500-$465,000

Montgomery-New 12 $214,900-$375,000

Closed-17 $200,000-$365,000

Naperville-New 46 $275,000-$3,600,000

Clsoed-64 $280,000-$2,250,000

Oswego-New 11 $264,900-$675,000

Closed-17 $225,000-$640,000

Plainfield-New 24 $249,000-$599,900

Closed-57 $255,000-$525,000

St Charles-New 18 $159,000-$1,345,000

Closed-27 $187,250-$1,395,000

Yorkville-New 8 $259,900-$589,900

Closed-19 $230,000-$739,900

Financing, median price, and 2,000 or more square feet

Median list price this week $350,000, last week $355,000. Closed median price this week $345,000, last week $355,000. A slight change from the week before. Nothing too drastic.

Fox Valley Real Estate Market update week 35-Stats 090421 — Median prices this week

Homes closed using conventional financing this week 281, last week 199. Closed this week using Cash 34, last week 33. This is out of 387 closed this week. Conventional is still the what most seller’s are looking for.

Fox Valley Real Estate Market Update Week 35- Conventional and Cash 090421 — Conventional and Cash

FHA this week 46, last week 34. VA this week 25, last week 7. It is great to see more of FHA and VA getting accepted and closed. They have really struggled to get through earlier this year. So many of those buyers gave up. So I hope they will start looking again.

Fox Valley Real Estate Market Update Week 35-FHA and VA 090421 — FHA and VA Financing

Out of 387 closed this week 237 of them were 2,000 square feet or more. The median closed price was $420,000 this week, last week it was $423,550. Not much difference there. Minimum closed price was $140,000 this week with list price of $150,000. This gives you an idea of what 2,000 square feet or more costs you here in the Fox Valley area of Illinois.

Fox Valley Real Estate Market Update Week 35-2000 sf or more 090421 — 2,000 square feet or more

Contracts accepted this week

Contracts accepted this week were down. 251 this week compared to 286 the week before. The market should pick back up again after the Labor Day weekend.

Fox Valley Real Estate Market Update Week 35-Contacts accepted this week — Contracts accepted this week

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

Aurora-43 Bolingbrook-26

Montgomery-12 Naperville-26

Plainfield-30 St Charles-15

West Chicago-12 Yorkville-16

1 short sale was accepted this week. It was in Plainfield. Now it will be submitted to the lender to see if they will also accept it. Most homeowners that are having trouble paying their mortgage can sell without doing a short sale. The prices have increased enough that most of them can sell and might even get some money at closing to move.

Seller’s have accepted contracts that are contingent on the buyer closing on their current home. 7 with a kick-out clause of 72 hours, 5 with 48 hours and 1 with 24 hours.

Also, seller’s have accepted contracts that are contingent on the buyer selling and closing on their current home. 5 with a kick-out clause of 72 hours, 1 with 48 hours and 2 with 24 hours.

2021 by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

September 204 387 251

Totals 8072 8964 10040

Single family homes have been selling. It has been a good year with a very tight market so far. Check back with us every Saturday for the real estate market update. At the end of each month we take a look back at 2020 and 2019 as well so you can see how things have been going.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Request a home valuation if you are thinking about selling. Give us a little information about your home and what has been recently updated. We will provide you with a net proceeds that shows you 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.

Are you thinking about buying this year? You need to get with a loan officer and get all your financial information to them so they can get you pre approved. Seller’s today want to see more than just calling up a loan officer and talking to them on the phone, They want to know that the loan officer has seen all your information and ran the credit check and put it through underwriting. It also will make it much faster when you find a home to get the loan approved.

Resources:

If you need recommendations for loan officers, real estate attorneys or home inspectors we can send you a few to contact and you can decide who you want to work with.

Fox Valley real estate market update week 35. Happy Labor Day weekend! Enjoy and be safe.

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 6038

630-503-6555 ext 101

How many homes closed 2,000 square feet or more week 34

Posted on August 28, 2021August 28, 2021 by Kristine Heiman, Designated Managing Broker

How many homes closed 2,000 square feet or more week 34

How many homes closed 2,000 square feet or more week 34. This is one way to search homes that you are looking for if you know less than 2,000 square feet will not work for you. We will let you know how this week went shortly.

New listings of single family homes was down this week. 221 this week compared to 256 the week before. So many people are getting the kids in school this past week. It is a big adjustment especially for the kids that did not attend in-person school last year. Hopefully things will settle down and get back to thinking about housing.

Closed listings of single family homes were also down. 273 this week compared to 299 the week before. This is the last full week of the month. Monday and Tuesday the last days of the month. We are back to scheduling things around school. During last year with the pandemic, and kids not attending in-person classes, people were not worrying about the school schedule.

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

Aurora-New 33 $167,500-$690,000

Closed-43 $90,000-$451,500

Bolingbrook-New 17 $195,000-$415,000

Closed-19 $198,000-$544,000

Geneva-New 5 $349,900-$474,000

Closed-11 $295,000-$680,000

Montgomery-New 8 $212,000-$300,000

Closed-10 $217,000-$376,000

Naperville-New 37 $285,000-$1,300,000

Closed-52 $245,000-$1,750,000

Oswego-New 11 $249,000-$549,000

Closed-15 $250,000-$435,900

Plainfield-New 31 $249,000-$774,400

Closed-40 $180,000-$630,000

St Charles-New 13 $265,000-$990,000

Closed-22 $205,000-$990,000

Yorkville-New 12 $219,900-$515,000

Closed-10 $209,000-$430,000

Financing, median price and 2,000 or more square feet

Median list price this week $355,000, same as the week before. Closed median price this week $355,000, last week $359,900. Prices are not changing that much right now.

How many homes closed 2,000 square feet or more week 34-Stats 082821 — Median prices this week

Homes closed using Conventional Financing this week 199, last week 218. Cash homes that closed this week 33, last week 24.

How many homes closed 2,000 square feet or more week 34-Conv and cash 092821 — Conventional and Cash financing

Homes closed using FHA financing this week 34, last week 47. VA financing this week 7, last week 10

Out of 273 homes that closed this week 166 of them were 2,000 square feet or more with a median closed price of $423,550, and list price $419,900. The minimum closed price $207,000 with minimum list price $199,900. This gives you an idea of what 2,000 square feet costs you here in the Fox Valley area of Illinois.

How many homes closed 2,000 square feet or more week 34-2,000 square feet or more 082821 — 2,000 square feet or more

Contracts accepted this week

Contracts accepted this week were down. 286 this week compared to 300 the week before. Hopefully after the adjustment of getting back in the routine of school things will go back to normal. The market is not down that much.

Look at the communities with the most contracts accepted this week:

Aurora-49 Bolingbrook-21

Geneva-10 Montgomery-16

Naperville-35 Oswego-13

Plainfield-46 St Charles-19

Sycamore-10 West Chicago-14

Yorkville-12

No short sales were accepted this week.

Seller’s accepted contracts that are contingent on the buyer to close on their current home. 7 with a kick-out clause of 72 hours, 7 with 48 hours and 3 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 48 hours.

2021 by the month and a look back at 2020 and 2019

2021

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

Totals 7868 8577 9789

2020

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

August 1037 1335 1436

Totals 9244 7294 10002

2019

Month

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

June 1643 1253 1218

July 1423 1008 1090

August 1585 1330 1196

Totals 11531 7163 8866

More homes have been closed this year than the previous 2 years even with a tighter market. You can see the steady decline in new listings. Normally, August is the best month for closings right before school starts. This year it was June. It has been a really hard year for buyer’s. They have had so much competition for homes and not many to choose from. Prices have gone up so much that some have been priced out of the market. We hope inventory will improve.

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.

Thinking about selling before the holidays? Request a home valuation and tell us a little bit about your home and what improvements have been recently completed. We will provide you with a net proceeds that shows you an estimate of expenses to sell. This will be updated when an offer comes in and we know all the terms.

Do you want to buy a home this year? You need to contact a loan office that is willing to pre approve you before you find the home. You need to get them all your financial information. Pre-qualifying just is not enough anymore. You need to be ready to go with a letter in hand to go with an offer. A seller will not consider you without it. You might also need to show proof of funds. You can have your financial institution write a letter showing you do have the funds available for the down payment and closing costs. That might even improve your chances if there is multiple offers.

Resources:

If you need recommendations for loan officer’s, real estate attorney’s or home inspector’s we can give you a few of each and you can decide who you want to work with.

How many homes closed 2,000 square feet or more week 34. Have a great week!

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

How many homes closed 2,000 square feet or more week 33

Posted on August 21, 2021August 21, 2021 by Kristine Heiman, Designated Managing Broker

How many homes closed 2,000 square feet or more week 33

How many homes closed 2,000 square feet or more week 33. So many people are looking for more space. Can they find it in the price range they are looking for? We will get into that shortly.

New listings of single family homes were pretty consistent with the week before. 256 this week compared to 251 the week before. We would love to see more, but consistency is good.

Closed single family homes this week were also, not far off of last week. 299 this week compared to 291 the week before. Next week is the last full week of the month so they should increase.

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

Aurora-New 46 $145,000-$770,000

Closed-62 $139,000-$595,000

Bolingbrook-New 16 $249,000-$899,000

Closed-23 $175,000-$511,000

Geneva-New 9 $268,900-$1,200,000

Closed-12 $284,000-$766,337

Naperville-New 42 $250,000-$1,625,000

Closed-55 $350,000-$2,400,000

Oswego-New 16 $299,999-$449,990

Closed-12 $211,000-$440,000

Plainfield-New 44 $224,900-$900,000

Closed-34 $196,000-$555,000

St Charles-New 17 $209,900-$1,895,000

Closed-26 $175,000-$915,000

West Chicago-New 10 $295,000-$664,900

Closed-7 $239,000-$492,000

Financing, median list and closed price, 2,000 square feet or more closed this week

Median list price this week $355,000, last week $361,470. Median closed price $359,900, last week $375,000. These numbers go up and down each week, but they do not change drastically.

How many homes closed 2,000 square feet or more week 33- Stats 082121 — Stats for August 21, 2021

Homes that closed using Conventional this week 218, last week 221. Cash this week 24, last week 33.

How many homes closed 2,000 square feet or more week 33-Conventional and cash — Conventional and Cash

Closed homes using FHA financing this week 47, last week 26. VA this week 10, last week 9.

How many homes closed 2,000 square feet or more week 33-FHA and VA — FHA and VA financing

Seller’s are still choosing Conventional financing over anything else. I am encouraged to see FHA numbers going up. Some buyer’s that have to go FHA have given up. They are tired of losing out to buyer’s using Conventional financing with multiple offer situations.

Out of 299 homes that closed this week 191 of them were 2,000 square feet or more. Median list price is $425,000, closed price is $420,000. Minimum list price $220,000, closed price $242,000. So many people are looking for more space since the pandemic. This gives you an idea of what price that will cost you. If you are below this price it will be hard to find. You might need to adjust the criteria for the home you are looking for.

How many homes closed 2,000 square feet or more week 33-2000 sf 082121 — 2,000 square feet or more

Contracts accepted this week

Contracts accepted this week on single family home were consistent. 300 this week compared to 303 the week before. The market is staying steady. There might not be as many offers with multiple offer situations, but buyer’s are still out there looking.

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

Aurora-51 Batavia-10

Bolingbrook-24 Montgomery-13

Naperville-33 Oswego-10

Plainfield-37 St Charles-26

Sycamore-10 West Chicago-11

Winfield-14 Yorkville-11

There were no short sales accepted by seller’s this week. Most people that are in a bind, and need to sell do not have to go through the short sale process with the prices that have increased.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 5 with a kick-out clause of 72 hours, 4 with 48 hours and 3 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours, 8 with 48 hours and 2 with 24 hours.

There was 1 that did not have a kick-out clause that they marked. So we don’t know about that one.

2021 by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1450 1686 1671

July 1118 1182 1210

August 887 930 884

Totals 7646 8304 9503

We started out the year with closings from 2020. They received a contract in 2020 but did not close until 2021. That is why the closed column is more than the new listings. You can see it has been a really tight market. Normally you would see more new listings than closings.

It still remains a seller’s market. There might be fewer offers with multiple offer situations, but there are still a lot of buyer’s out there ready to go.

There has been an extreme shortage of housing across the country. Some new homes have been built in our area that have helped.

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.

Request a home valuation if you are thinking about selling your home. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home? You need to get ready first by contacting a loan officer and getting them all your financial information. You need to get pre approved with this market. Just calling and talking to a loan officer to get pre-qualified is not enough anymore. You need to show the seller’s that you have taken this extra step.

Resources:

If you need recommendations for loan officers, real estate attorneys and home inspectors we can give a few of each and you can decide who you want to work with. Just let us know.

All data used is from our MLS that we use MRED, LLC.

How many homes closed 2,000 square feet or more week 33. Have a great week!

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, Il 60538

630-503-6555 ext 101

How many VA deals closed in week 32

Posted on August 14, 2021August 14, 2021 by Kristine Heiman, Designated Managing Broker

How many VA deals closed in week 32

How many VA deals closed in week 32? Shortly we will break it down for you what types of financing was chosen most this week. There are many veterans that live in the Fox Valley area. We do not know how many VA offers were not accepted, but we do know how many closed this week.

First we will talk about new listings for the week. New listings were down. 251 this week compared to 264 the week before. This is making a low inventory situation even worse.

Closed listings were also down. 291 this week compared to 340 the week before. This will increase as we get closer to the end of the month.

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

Aurora-New 35 $140,000-$599,900

Closed-37 $97,000-$711,711

Batavia-New 7 $235,000-$650,000

Closed-15 $185,100-$679,000

Bolingbrook-New 23 $200,000-$507,174

Closed-21 $205,000-$488,000

Geneva-New 11 $235,000-$1,295,000

Closed-19 $256,000-$1,995,000

Naperville-New 37 $299,900-$2,195,000

Closed-52 $290,000-$2,225,000

Oswego-New 8 $289,900-$544,900

Closed-11 $270,000-$522,000

Plainfield-New 41 $255,000-$899,900

Closed-37 $225,000-$790,000

St Charles-New 20 $275,000-$1,275,000

Closed-32 $253,000-$1,250,000

West Chicago-New 10 $214,000-$1,075,000

Closed-6 $253,000-$559,000

Financing, median list and closed price

Median list price this week $361,470, and last week $350,000.

Median closed price this week $375,000, and last week $365,000.

The median list and closed prices have been fluctuating up and down, but basically staying in the same range.

Conventional deals that closed this week 221, and last week 248.

Cash deals that closed this week 33, and last week 39.

How many VA deals closed in week 32-Conv and Cash 081421 — Conventional and Cash

FHA deals that closed this week 26, and last week 41.

VA deals that closed this week 9, and last week 12.

How many VA deals closed in week 32-FHA and VA 081421 — FHA and VA

Totals were down in each one. We do not know how many VA loan offers are not getting accepted, but the trend you can see is seller’s are accepting more Conventional loans then anything else. Hopefully, it is not that agents are shying away from VA loans because they think they will be hard or take longer to close. If a home is in good condition there should be no problem with getting a VA loan approved. Using a lender that is familiar with the process is very important.

Contracts accepted this week

Contracts accepted this week were up. 303 this week compared to 281 the week before.

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

Aurora-56 Batavia-10

Bolingbrook-24 Montgomery-15

Naperville-37 Oswego-13

Plainfield-41 St Charles-24

West Chicago-16 Yorkville-19

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. 4 with a kick-out clause of 72 hours, 6 with 48 hours, and 4 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 48 hours.

2021 by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1450 1686 1671

July 1118 1182 1210

August 515 631 584

Totals 7274 8005 9203

We started out the year ahead with closed homes. Deals that were accepted in 2020 that closed in the beginning of the year. There is usually a gap between new and closed, but not this year.

It continues to be a seller’s market. We are still seeing multiple offers, but it is not as intense. We are starting to see price reductions on some of the higher priced homes.

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.

Request a home valuation

if you are thinking about selling your home. Give us some information about what has been recently updated. We will provide you with a net proceeds that shows you the expenses to sell so you can see where you are at. This will be updated when an offer comes in and we know all the terms.

If you are thinking about buying a home, you will want to find a loan officer that will put you through the process to get pre approved. Getting pre-qualified just is not enough anymore when you are going to be up against multiple offers. Seller’s will be confident in accepting an offer with a pre approval before they accept an offer with a buyer that has not gone through the process.

Resources:

We can make recommendations of loan officers, real estate attorneys and home inspectors that we have successfully used in the post. You can decide who you would like to work with.

How many VA deals closed in week 32. We hope more agents will get informed about VA loans so they will be more confident in accepting a VA offer. Our veterans deserve to be able to use their benefits.

Have a great week!

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

How many FHA deals closed in week 31

Posted on August 7, 2021August 7, 2021 by Kristine Heiman, Designated Managing Broker

How many FHA deals closed in week 31

How many FHA deals closed in week 31? Some are getting accepted. Not as many as other types of loans. We will go into more detail in a little bit.

First we will start out with new and closed listings this week and what communities are seeing the most activity.

New listings of single family homes was pretty consistent. 264 this week compared to 265 the week before. That is pretty consistent!

Closing listings of single family homes was down. 340 this week compared to 365 the week before. This is still pretty good for the first full week of the month. Usually it drops down. Most buyer’s want to close at the end of the month

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

Aurora-New 52 $118,000-$479,000

Closed-45 $90,000-$655,000

Batavia-New 15 $185,000-$939,900

Closed-10 $255,000-$760,000

Bolingbrook-New 15 $179,900-$515,000

Closed-27 $225,000-$555,000

Montgomery-New 11 $190,000-$349,900

Closed-17 $185,000-$340,000

Naperville-New 29 $280,000-$1,550,000

Closed-73 $282,000-$2,125,000

North Aurora-New 5 $249,900-$424,990

Closed-13 $270,000-$493,000

Oswego-New 15 $289,000-$719,900

Closed-14 $241,000-$623,455

Plainfield-New 36 $174,900-$551,106

Closed-42 $230,000-$565,000

St Charles-New 18 $159,900-$820,000

Closed-23 $150,000-$990,000

West Chicago-New 13 $189,900-$575,000

Closed-7 $305,000-$640,000

Yorkville-New 12 $199,900-$739,900

Closed-14 $230,000-$420,000

Financing and median list and closed price

So many buyer’s out there are having a hard time getting their FHA offers accepted. Some are getting through. We will show you how many Conventional, Cash, FHA and VA deals closed. We will start out showing you the median list and closed price.

The median list price this week is $350,000, and last week it was $373,700.

Closed median price this week is $365,000, and last week it was $390,000.

The median list and closed prices have been fluctuating up and down each week, but have stayed in the same range.

How many FHA deals closed in week 31-Stats 080721 — Median List and Closed Price

Conventional deals closed this week 248, and last week 281.

Cash deals closed this week 39, and last week 38.

Conventional was down, but cash stayed consistent.

How many FHA deals closed in week 31-Conv and Cash 080721 — Conventional and Cash

FHA deals closed this week 41, and last week 38.

VA deals closed this week 12, and last week 8.

FHA was up slightly, and VA was slightly down. A lot of first-time buyer’s are going with FHA financing, and they are having a hard time especially with multiple offer situations. Hopefully they will get a break soon.

How many FHA deals closed in week 31-FHA and VA 080721 — FHA and VA

Contracts accepted this week

Contracts accepted this week were down. 281 this week compared to 297 the week before. We don’t know what type of financing was chosen until they close.

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

Aurora-45 Bolingbrook-19

Montgomery-14 Naperville-35

Oswego-14 Plainfield-51

St Charles-14 Sycamore-10

West Chicago-10 Yorkville-13

1 short sale was accepted buy a seller in St Charles. It will now be submitted to the lender to see if they will also accept. With the prices increasing not too many people have to sell for less than what they owe. This is a great time, if you are in a bind, to sell.

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 8 with 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, 5 with 48 hours and 2 with 24 hours.

2021 by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1450 1686 1671

July 1118 1182 1210

August 264 340 281

Totals 7023 7714 8900

The numbers are so tight. We started out the year with more closed then new listings, but normally the new listings would have a bigger gap between them and closed. The contracts accepted is higher, because some homes that get a contract accepted come back on the market because of home inspection or attorney review issues. Some appraisals are coming in lower than the contract price and it can’t go through without seller dropping price or buyer coming in with the difference in cash.

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 still a seller’s market so if you are thinking about selling, request a home valuation. We will let you know what it is worth in today’s market. Provide you with a net proceeds that shows you the expenses to sell so you can see what you have to work with. This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year? You need to get in touch with a loan officer to get pre approved. Get them all our financial information so they can get you through the pre approval process. Just getting a pre-qualification is just not good enough anymore with most homes having multiple offers. You need to be ready to go look as soon as a home hits the market and ready to write an offer. They go fast.

Resources:

Let us know what other information you re looking for. We will point you in the right direction.

If you need recommendations for loan officers, real estate attorney and home inspectors we can provide you with a few so you can decide who you want to work with.

How many FHA deals closed in week 31. Have a great week!

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 Ext 101

What financing was the most common for week 30

Posted on July 31, 2021July 31, 2021 by Kristine Heiman, Designated Managing Broker

What financing was the most common for week 30

What financing was the most common for week 30? We will fill you in on that shortly. First we will look at how many new listings of single family homes in the Fox Valley area of Illinois. New listings were down. 265 this week compared to 289 the week before.

Closed listings of single family homes were up. 365 this week compared to 306 the week before. A great ending to the month of July.

What financing was the most common for week 30-New an Closed — New and Closed listings

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

Aurora-New 40 $160,000-$770,000

Closed-49 $100,000-$725,000

Batavia-New 11 $265,000-$775,000

Closed-8 $265,000-$700,000

Bolingbrook-New 22 $195,900-$498,900

Closed-23 $200,000-$535,000

Geneva-New 15 $240,000-$695,000

Closed-17 $324,000-$861,606

Montgomery-New 6 $220,000-$345,000

Closed-14 $200,000-$390,000

Naperville-New 38 $224,900-$1,500,000

Closed-67 $290,000-$1,335,000

Oswego-New 11 $215,000-$699,500

Closed-15 $232,000-$540,000

Plainfield-New 37 $214,900-$675,000

Closed-46 $188,000-$680,000

St Charles-New 18 $185,000-$2,350,000

Closed-39 $195,000-$1,845,000

Yorkville-New 9 $39,900-$590,000

Closed-13 $243,000-$577,000

If you are looking to buy and did not see the price range you are looking for in these communities click on the picture to see the other communities and see if you find your price range there.

As you can see from the communities listed that only one community had more new listings than closed. That was Batavia. It will continue to be a seller’s market until this tips the other way.

What financing was the most common for week 30?

It makes a big difference in what financing you choose to go with. Of course cash is king if the price is right, but not everyone has that opportunity.

Conventional financing this week 281 last week 238.

Cash this week 38 last week 27

What financing was the most common for week 30-FHA VA 073121 — FHA and VA

FHA this week 38 last week 36

VA this week 8 last week 5

So many people are using Conventional financing, because that is what the seller’s are choosing when they have multiple offers. FHA and VA are harder to get accepted even if you are not asking for help with closing costs.

It has been hard for buyers that need to use FHA financing.

Median list price this week $373,700 last week $360,000.

Median closed price this week $390,000 last week $379,000.

As prices increase more buyers are left out of the market. It is wonderful for seller’s.

Contracts accepted this week

Contracts accepted this week were down. 297 this week compared to 322 the week before.

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

Aurora-42 Bolingbrook-25

Geneva-19 Montgomery-12

Naperville-41 Oswego-17

Plainfield-34 St Charles-27

West Chicago-10 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. 3 with a kick-out clause of 72 hours, 4 with 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. 2 with a kick-out clause of 72 hours, 3 with 48 hours and 2 with 24 hours.

2021 real estate market update so far this year and a look back at 2020 and 2019

2021

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1450 1686 1671

July 1118 1182 1210

Totals 6759 8191 8619

2020

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

July 1417 1453 1852

Totals 8207 5959 8566

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

June 1643 1253 1218

July 1423 1008 1090

Totals 9946 5833 7670

So many more homes were closed this year than the previous 2 years. New listings steadily declined from 2019 until this year. Inventory of homes were low in 2019, but look where they are this year. This is why the prices have increased so much.

Communities need to increase housing either with new construction or repurposing commercial property to help increase inventory so buyers have a chance.

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.

Request a home valuation if you are thinking about selling your home. We will let you know what your home is worth in today’s market. A net proceeds, showing you the expenses to sell, will be provided so you can see where you are at. When an offer comes in this will be updated when we know all the terms so you can make a good decision.

Thinking about buying a home? You need to contact a loan officer and get them all your financial documents so they can get you pre approved. You need to take this extra step, because seller’s want to see that your information has been submitted to an underwriter, and that you have been checked out.

Resources:

We will guide you through the process.

Do you need recommendations for real estate attorneys, home inspectors or loan officers? We can recommend a few so you can decide who you want to work with.

What financing was most common for week 30 was conventional. It will continue to be until this market changes and we start getting more homes on the market.

All data was obtained by connect MLS MRED, LLC.

Have a great week! Let us know how we can help you.

Kristine Heiman, SRS, SFR, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster ST

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 29

Posted on July 24, 2021July 24, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 29

2021 real estate market update week 29. Welcome back! Other places you can get the percentages up or down over all for the week. We go into a deeper dive into the numbers. You might be just keeping an eye on your community to see how it is doing or you might be looking for a home and this might persuade you to look at different communities. Let us know what information is most important to you.

New listings of single family homes was up slightly. 289 this week compared to 277 the week before. It seemed towards the end of the week more listings were coming on the market.

Closed listings of single family homes were pretty consistent. 306 this week compared to 305 the week before. Next week is the last week of the month when most buyers want to close.

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

Aurora-New 33 $115,000-$598,900

Closed-40 $130,000-$575,000

Batavia-New 10 $219,900-$449,900

Closed-13 $260,000-$650,000

Bolingbrook-New 18 $214,900-$485,000

Closed-23 $217,500-$522,000

Geneva-New 13 $260,000-$579,900

Closed-14 $297,000-$576,000

Montgomery-New 10 $130,000-$339,000

Closed-6 $185,000-$330,000

Naperville-New 60 $249,999-$2,150,000

Closed-61 $177,500-$1,725,000

North Aurora-New 10 $208,500-$480,000

Closed-4 $200,500-$410,000

Oswego-New 9 $210,000-$610,000

Closed-14 $251,000-$465,000

Plainfield-New 42 $199,900-$600,000

Closed-37 $210,000-$630,000

St Charles-New 24 $215,000-$993,000

Closed-23 $222,500-$1,800,000

West Chicago-New 14 $190,000-$825,000

Closed-16 $193,000-$582,750

Financing used, median list and closed price

Median list price of single family homes was $360,000 this week compared to $359,900 the week before.

Median closed price of single family homes was $$379,000 this week compared to $355,000 the week before.

2021 Real Estate Market Update Week 29-Stats 072421 — Stats this week

Financing choices on closed single family homes this week using Conventional this week 238 and last week 232. Cash this week 27 and last week 28.

2021 Real Estate Market Update Week 29-Conventional and cash Closed — Conventional and Cash

Financing choices on closed single family homes this week using FHA this week 36 and last week 39. VA this week 5 and last week 6.

2021 Real Estate Market Update Week 29-FHA and VA — FHA and VA

Contracts accepted this week

Contracts accepted this week by seller’s on single family homes was pretty consistent. 322 this week compared to 321 the week before. Consistency in the market is a wonderful thing. Some talk about it slowing a bit. Maybe there are not as many offers on a property as there was, but buyers are still out there looking to buy. It continues to be a seller’s market here in the Fox Valley area of Illinois.

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

Aurora-53 Batavia-13

Bolingbrook-23 Geneva-10

Montgomery-12 Naperville-50

Oswego-14 Plainfield-46

St Charles-27 Yorkville-14

No short sales were accepted by seller’s this week. That does not mean that they are not out there. Most people that need to sell, that normally would be selling short, have had enough price appreciation that they can sell and payoff the loan.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 10 with 48 hours and 4 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours and 3 with 48 hours.

2021 real estate market by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1450 1686 1671

July 853 817 913

Totals 6494 7009 8322

So far June is the best month across the board. Closed homes is the most important column to keep track of because this is actual numbers. Some seller’s can accept a contract but because of many reasons it can go back on the market..

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 yo reach your goal.

Is it the right time to make a move? Request a home valuation and give us a little information about your home and what updates have been completed. We will provide you with a net proceeds that shows you the expenses to sell and you decide if it is the right time. This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year? You need to contact a loan officer and give them all your financial information so they can get you pre approved. You need to take this extra step if you want to even be considered by a seller. We can set you up to receive listings as they hit the market so you don’t miss out on a thing.

Resources:

Need recommendations for a real estate attorney, loan officers or home inspectors? Just let us know and we will recommend a few for you to contact and decide who you want to work with.

All data used is from our MLS MRED, LLC

2021 real estate market update week 29. Have a wonderful week!

Kristine Heiman, SFR, SRS, AWHD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 27

Posted on July 10, 2021July 10, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 27

2021 real estate market update week 27. We are working on the second half of the year now and hope the inventory of homes will improve.

New listings of single family homes was up. 287 this week compared to 239 the week before. Great news! We will take any improvement we can get.

Closed listings of single family homes were down. 206 this week compared to 419 the week before. That is to be expected for the beginning of the month.

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

Aurora-New 46 $194,900-$585,000

Closed-40 $155,000-$900,000

Bolingbrook-New 10 $198,000-$479,000

Closed-16 $215,000-$450,000

Elburn-New 11 $162,000-$699,000

Closed-2 $307,000-$370,000

Geneva-New 9 $252,900-$882,592

Closed-19 $261,000-$962,152

Naperville-New 63 $299,900-$2,095,000

Closed-37 $320,000-$1,209,000

Oswego-New 13 $249,900-$525,000

Closed-12 $258,000-$485,000

Plainfield-New 34 $220,000-$1,399,000

Closed-15 $250,000-$596,388

St Charles-New 29 $199,900-$1,449,000

Closed-11 $275,000-$900,000

Yorkville-New 11 $219,900-$1,100,000

Closed-7 $240,000-$565,500

Median price and financing this week

Median list price of single family homes this week was 379,900. Last week it was $369,504.

Median closed price of single family homes this week was $370,000 same as the week before.

I thought I would add financing this week so you can see what is happening. I did this a little later this morning than my first download so we have 2 more than what is listed above.

The one on the left is Conventional financing. There were 153 with $379,900 the median closed price.

The one on the right is Cash. There were 25 with $412,500 the median closed price.

The one on the left is FHA financing. There were 26 with $291,500 the median closed price.

The one on the right is VA financing. There were 4 with $417,950 the median closed price.

It is important to see the breakdown of what happening right now. I will continue to list this so you can see if things start to change.

Contracts accepted this week

Contracts accepted this week were down. 270 this week compared to 325 the week before. Last week new listings were down so that makes sense.

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

Aurora-46 Bolingbrook-21

Montgomery-13 Naperville-45

Oswego-13 Plainfield-39

St Charles-25

No short sales were accepted by seller’s this week. With the prices going up, even if they need to sell because of not working, most likely they can sell without having to go that route.

Sellers accepted contracts that are contingent on the buyer’s closing on their current home. 9 with a kick-out clause of 72 hours, 6 with 48 hours and 2 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer’s selling and closing on their current home. 2 with a kick-out clause of 24 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1450 1686 1671

July 287 206 270

Totals 5928 6398 7679

Closed is the most important column to look at. We started ahead at the beginning of the year with inventory left over from the previous year. Not all of the contracts accepted will end up closing. Sometimes they come back on the market after home inspection/attorney review period of after the appraisal comes in. Prices have increased, and the appraisals don’t always match, so if they can’t come to an agreement the home goes back on the market.

It continues to be a seller’s market.

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.

Thinking about selling this year? Request a home valuation and let us know a little bit about your home and what you have updated. We will let you know what it is worth in today’s market and provide you with a net proceeds that shows you 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.

If you are thinking about buying a home this year you have to call a loan officer and get them all your financial information so they can get you pre approved. Pre qualify will not do in today’s market. You will probably be up against other offers when you do find a home so you want to let the seller’s know that you did this extra step.

Resources:

If you need recommendations for loan officers, real estate attorneys and home inspectors just let us know and we will recommend a few for you to choose from.

2021 real estate market update week 27. Have a great week!

Kristine Heiman, SFR, SRS, AHWD

Designate Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 26

Posted on July 3, 2021July 3, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 26

2021 real estate market update week 26. New listings this week are down. 239 this week compared to 285 the week before. Next week hopefully will be better with getting past the holiday.

Closings this week were way up. 419 this week compared to 292 the week before. Usually closing are up at the end of the month but some of these might of been delayed closings.

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

Aurora-New 29 $149,900-$595,000

Closed-63 $106,000-$753,000

Bolingbrook-New 18 $174,900-$501,375

Closed-29 $194,000-$513,925

Geneva-New 10 $275,000-$864,900

Closed-19 $249,500-$1,700,000

Naperville-New 47 $249,900-$1,650,000

Closed-80 $265,000-$1,649,000

North Aurora-New 5 $224,900-$359,900

Closed-12 $205,000-$500,000

Oswego-New 10 $275,000-$725,000

Closed-15 $250,000-$465,000

Plainfield-New 32 $185,000-$550,000

Closed-52 $160,000-$640,000

St Charles-New 21 $180,000-$705,000

Closed-40 $184,900-$1,450,000

Sycamore-New 6 $105,000-$439,000

Closed-15 $117,000-$585,000

Warrenville-New 0

Closed-12 $216,000-$740,000

West Chicago-New 6 $324,000-$850,000

Closed-13 $210,000-$530,000

Yorkville-New 7 $335,000-$565,000

Closed-15 $221,000-$400,000

Median list price this week is $369,504, and the week before was $370,000

Median closed price this week is $370,000, and the week before was $373,750.

Contracts accepted this week

Contracts accepted this week were down. 325 this week compared to 355 the week before. This July 4th holiday has impacted the market this week. We should get back to normal next week.

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

Aurora-50 Batavia-18

Bolingbrook-22 Geneva-14

Naperville-62 Oswego-16

Plainfield-31 St Charles-30

Yorkville-15

No short sales were accepted by seller’s this week. Most homes have appreciated in this market enough that they would not have to sell short.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours, 7 with 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. 2 with a kick-out clause of 72 hours, 3 with 48 hours and 1 with 24 hours.

2021 real estate market update by the month and a look back at 2020 and 2019

2021

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1450 1686 1671

Totals 5641 6192 7409

2020

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

June 1232 908 1534

Totals 6790 4506 6714

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

June 1643 1253 1218

Totals 8523 4825 6580

Even in a tighter market with less new listings than the previous 2 years 2021 closed on more homes. We are at the halfway mark for the year. Prices are up. We are still seeing multiple offers. It continues to be a seller’s market.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Request a home valuation if you are thinking about selling this year. Give us a little information about your home and what has been updated recently. We will provide you with a net proceeds that shows you 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.

Thinking about buying this year? You will need to get pre approved with a loan officer. You will need to provide them with all your financial information. Today you can’t just call them and get prequalified you need to go through the process of getting pre approved. You will be up against multiple offers so you need to take this next step before even looking for homes. They are going fast. You need to be ready to look as soon as they hit the market and be ready to write an offer.

Resources:

If you need recommendations for loan officers, real estate attorneys or home inspectors we can provide you with a few of each so you can decide who you would like to work with.

2021 real estate market update week 26. Happy 4th of July! Have a great week.

Kristine Heiman, SFR, SRS, AWHD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 25

Posted on June 26, 2021June 26, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 25

2021 real estate market update week 25. New listings of single family homes is down. 285 this week compared to 315 the week before. This is so discouraging for buyers that are waiting for new listings to come on the market. They just can not come on the market fast enough. Prices continue to rise because of the shortage of homes on the market. Some buyers are even getting priced out of the market.

Closed listings of single family homes was also down. 292 this week compared to 315 the week before. Monday through Wednesday next week I am sure will be busy. The last days of the month when most buyers want to close.

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

Aurora-New 39 $149,900-$599,900

Closed-41 $120,000-$535,000

Batavia-New 15 $239,900-$725,000

Closed-5 $105,000-$408,000

Bolingbrook-New 22 $214,900-$518,700

Closed-19 $165,300-$505,000

Geneva-New 11 $275,000-$665,000

Closed-10 $265,000-$725,000

Naperville-New 63 $275,000-$1,790,000

Closed-66 $280,000-$1,683,000

Oswego-New 8 $325,000-$619,000

Closed-14 $150,000-$540,000

Plainfield-New 33 $210,000-$565,000

Closed-45 $225,000-$973,665

St Charles-New 24 $200,000-$995,000

Closed-26 $257,000-$915,000

Yorkville-New 14 $280,000-$589,900

Closed-9 $295,000-$490,000

Median list price this week $370,000 last week $374,450

Median closed price this week $373,750 last week $361,000

Contracts accepted this week

Contracts accepted this week on single family homes was up. 355 this week compared to 332 the week before. We are still seeing multiple offers. Strong sellers market continues.

Look at the communities sellers accepted them ost contracts:

Aurora-57 Bolingbrook-28

Montgomery-13 Naperville-68

Oswego-19 Plainfield-44

St Charles-26 Yorkville-12

1 short sale was accepted this week by a seller on a single family home. It was in St Charles. Now it will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 11 with 48 hours and 4 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 48 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 1211 1267 1346

Totals 5402 5773 7084

You can see how things increased from March on, and it is not slowing down a bit.

Check back with us every Saturday. At the end of each month we will also look back at 2020 and 2019 so you can see how this year is going..

Next week I will compare to the previous 2 years since there are 3 days next week of June.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Request a home valuation if you are thinking about selling this year. You will see what your home is worth in today’s market. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year? You have to be both patient and on the ball. You will most likely be up against multiple offers When a listing comes on the market you have to be ready to go see it that day. Getting prequalified is not enough. You need to get preapproved. If your loan officer will not do that, find another one that will do it.

If you will be buying with cash, you will need a letter from your financial institution stating that you have the money available to purchase that priced home plus closing costs.

Resources

If you need recommendations for a real estate attorney, home inspector or loan officer we can give you a few to contact so you can decide who you want to work with.

Buying/selling a home is very exciting. It also can be very stressful. We will guide you through the process and explain everything to you so you know what to expect.

All data came from our MLS MRED, LLC

2021 real estate market update week 25. Have a great week!

Kristine Heiman, SRS, SFR, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101