Fox Valley home prices February 5 2022

Posted on February 5, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices February 5 2022

Fox valley home prices February 5 2022. The tight market continues. It is like a broken record. New listings this week 113, last week 112. Almost identical

Closed listings this week were up. 164 this week compared to 121 the previous week. They will increase as we get closer to the end of the month.

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

Aurora-New 12 $179,000-$483,600

Closed 40 $85,000-$569,500

Bolingbrook-New 11 $229,500-$635,000

Closed-14 $235,000-540,000

Naperville-New 20 $299,900-$2,200,000

Closed-22 $330,000-$1,780,000

Plainfield-New 14 $290,000-$969,000

Closed-24 $251,000-$695,000

St Charles-New 17 $175,000-$1,700,000

Closed-8 $213,000-$560,000

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

Listings this week had a median price of $375,000, last week $329,900.

Closed homes had a median price of $344,000. last week $325,000.

Conventional financing was used to close 113 homes at median price of $381,000, last week 74 homes at median price of $344,000.

Conv 020522 — Conventional financing used this week

Cash was used to close 23 homes at a median price of $281,615, last week 18 at median price of $197,750.

Cash 020522 — Cash used for the week February 5 2022

FHA financing was used to close 22 homes at median price of $306,000, last week 18 homes at median price of $250,000.

FHA 020522 — FHA financing used the week of February 5 2022

VA financing was used to close 6 homes this week at a median price of $301,500, last week 11 at a median price of $387,000.

VA 020522 — VA financing used the week of February 5 2022

The pandemic has changed what people are looking for in a home. So many are now working from home and need more space for a home office or just have learned that they need more space. This week 98 homes closed that were 2,000 square feet or more at a median price of $426,000, last week 59 homes closed at a median price of $394,990. The minimum price of 2,000 square feet or more closed this week at a price of $85,000, last week $185,300.

Things change from day to day so you have to keep a close eye everyday for the right home to hit the market and be ready.

Contracts accepted this week

Contracts accepted this week were not too far off the week before. 170 this week compared to 178 the week before. That is pretty consistent.

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

Aurora-27 Bolingbrook-14

Geneva-10 Naperville-20

Oswego-14 Plainfield-20

St Charles-13 Yorkville-10

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. 2 with a kick-out clause of 72 hours, 2 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, and 1 with 48 hours.

The median list price of a single family home this week that a contract was accepted was $349,900 and the average days on market 40 days, lat week it was $378,587 with average days on market 44 days.

Stats Contingent 020522 — Contingent Stats February 5 2022

2022 by the month

Month New Closed Contracts accepted

January 422 492 623

February 113 164 170

Check back with us every Saturday for the real estate market update. At the end of each month we take a look back at 2021 and 2020 so you can see how the market is doing this year 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.

Get yourself in the best position by contacting a loan officer and getting them all your financial documents so they can get you pre approved and put you through the underwriting process so you are ready to go. When you find the home you like, you will not have to wait and possibly lose out on a home.

Request a home valuation if you are thinking about moving and selling your home. Tell us a little bit about your home and what has been updated recently. We will let you know what it is worth in today’s market. You will also be provided 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.

Resources

Types of loans and the process

VA loans and the requirements

Current interest rates ( ask your loan officer what rate they are offering. It depends on your credit score)

Down payment assistance

IHDA programs

Let us know what other information you are looking for so we can point you in the right direction.

All data used is form our MLS MRED, LLC.

Fox Valley home prices February 5 2022. Have a great week!

Kristine Heiman, SFR, SRS, AHWD, C2EX

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 December 25 2021

Posted on December 25, 2021December 25, 2021 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices December 25 2021

Fox Valley home prices December 25 2021. Merry Christmas! New listings of single family homes are way down. 43 this week compared to the previous week 84. When it gets close to the holidays it slows down.

Closed listings are down, but not that much. 186 this week compared to the previous week 230. Next week is the last week of the year.

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

Aurora-New 7 $170.000-$899,000

Closed-28 $135,500-$718,000

Bolingbrook-New 5 $215,000-$450,000

Closed-19 $230,000-$531,000

Naperville-New 3 $325,000-$484,900

Closed-25 $298,000-$1,555,000

Oswego-New 1 $349,000

Closed-12 $230,000-$570,170

Plainfield-New 5 $290,000-$740,000

Closed-20 $197,500-$560,000

Yorkville-New 8 $265,000-$600,000

Closed-11 $235,000-$450,000

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

The median list price of single family homes this week was $339,000, last week $349,900.

Closed single family homes median price was $335,500, last week $357,500.

138 of the 186 homes closed using Conventional financing this week with a median price of $350,000, last week 164 at $380,000.

Cash was used to closed 11 homes this week with a median price of $291,500, last week 30 at $332,500.

FHA financing was used to close 28 at a median price of $256,500, last week 23 at $279,000.

VA financing was used to close 7 homes with a median price of $361,000, last week 13 at $375,000

Homes that were 2,000 square feet or more closed 99 with a median price of $412,500, last week 143 closed with median price of $420,000. Minimum price was $239,000, last week $233,500.

Contracts accepted this week.

Contracts accepted this week on single family homes was down. 120 this week compared 143 the previous week.

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

Aurora-15 Naperville-19

Plainfield-21

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, 2 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. 3 with a kick-out clause of 72 hours.

2021 by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 629 1387

May 1088 1288 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

September 1083 1411 1251

October 715 973 930

November 557 854 931

December 307 870 551

Totals 10530 12448 13452

Next week is the last week of the year. We will compare to 2020 and 2019 so you can see how this year did compared to the previous 2 years. You will see more closed homes this year than the previous 2 years even with such low inventory.

Buyers are still out there looking for homes to come on the market. So many of them lost out to multiple offer situations.

2022 looks to be more of the same. There is a shortage of homes across the nation. Until more homes are built or converted we will see prices increase.

Check back with us every Saturday for the real estate market update.

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 you need to get pre approved with a loan officer. Get all your financial information together and get it to them so they can get your pre approved. In this market you have to be ready. If you have already gone through this make sure it is up-to-date. The pre approval letter needs to be 30 days or less.

Request a home valuation if you are thinking about selling. Tellus about your home and what has been recently updated. We will let you know what your home is worth in today’s market and give you and estimate of expenses to sell. The net proceeds will be updated when an offer comes in and we know all the terms.

Resources:

Check with your loan officer for the rates you will get based on your credit score. If you need to improve your credit score they can help you with that. They also might offer some assistance but you need to ask.

If you are on Facebook you can go to our page and click on the “shop now” button and search for homes there.

All data used is from our MLS MRED, LLC.

Fox Valley home prices December 25 2021. Merry Christmas! Have a great 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 homes today!

Fox Valley home prices November 27 2021

Posted on November 27, 2021November 28, 2021 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices November 27 2021

Fox Valley home prices November 27 2021. New listings of single family homes are drastically down. 82 this week compared to 153 the previous week.

Closed listings of single family homes are also down. 158 this week compared to 260 the previous week.

It was a short week with the Thanksgiving holiday. Last year with the pandemic no one could get together, and this year with vaccinations more people could get together with family and friends.

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

Aurora-New 14 $145,999-$515,000

Closed-16 $86,500-$423,600

Bolingbrook-New 6 $299,900-$450,000

Closed-18 $220,000-$520,000

Naperville-New 10 $329,000-$735,000

Closed-28 $221,000-$1,240,000

Plainfield-New 9 $199,900-$539,705

Closed-18 $255,000-$542,149

St Charles-New 4 $285,000-$879,000

Closed-11 $300,000-$2,295,000

You can click on the image above to look at activity in other communities. You might find something that fits your needs.

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

Median list price this week $359,450, last week $359,000.

Closed median price this week $359,950, last week $367,944.

Stats November 27 2021 — Stats this week

Conventional financing closed this week with 110 at median price of $373,250, last week 185 at median price of $390,990.

Cash closed this week with a median price 23 at $315,000, last week 26 at $286,945.

Conventional and Cash November 27 2021 — Conventional and Cash

FHA Closed this week 18 at median price of $288,500, last week 36 at $286,945.

VA closed this week 6 at median price $438,500, last week 11 at $374,900.

FHA and VA November 27 2021 — FHA and VA

2,000 or more square feet closed this week 89 at median price $450,000, last week 158 at $435,000. Minimum price this week $260,000, last week $255,000. This gives you an idea of pricing if you are wanting to increase square feet either more bedrooms, room for an office or extra space here in the Fox Valley.

2000 or more SF November 27 2021 — 2,000 or more Square Feet

Contracts accepted this week

Contracts accepted this week on single family homes was down. 191 this week compared to 235 the previous week. That is not too bad with this short holiday week.

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

Aurora-26 Bolingbrook-18

Montgomery-15 Naperville-29

Plainfield-20 St Charles-11

3 short sales were accepted by seller’s this week. 2 in Oswego and 1 in Minooka. Now they will get submitted to the lender to see fi they will also accept.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 1 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 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 1288 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

September 1083 1411 1251

October 715 973 930

November 557 854 931

Totals 10223 11875 12901

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

September 1176 1503 1503

October 843 1116 1159

November 567 985 699

Totals 11830 10898 13363

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

August 1585 1330 1196

September1164 765 869

October 1041 738 776

November 897 946 839

Totals 14633 9612 11350

This year had the best sold homes with the least amount of new listings. That is the column that is most important. June was the best month over all this year.

Most years it is the Spring months that see the most new listings. The economist’s keep saying we will see more of the same next year. We will have to wait and see if the Infrastructure bill that was past has an effect on the new listings. There might be more movement where the projects are. Some states have shovel-ready projects.

You can see how the new listings decreased every year since 2019. That is the reason for the price increases. Until we see enough homes on the market to satisfy buyer demand prices will continue to rise.

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 goals.

Thinking about moving anytime soon? Request a home valuation and give us some details about your home and what has recently been updated. We will provide you with a net proceeds that shows an estimate of expenses to sell. This will be updated when an offer comes in and we know all the terms.

If you are thinking about buying, you will need to plan ahead It might take some time to find a home. You will need to get all your financial information together and get it to a loan officer so they can pre approve you. They will provide you with a letter that shows what type of financing and how much you qualify for. This will go with an offer when we find you a home and you want to make an offer.

Resources:

Check with your loan officer for the current rates they offer with your credit score. They might also offer some assistance.

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

All data provided is from our MLS MRED, LLC.

Fox Valley home prices November 27 2021. 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

Fox Valley home prices November 20 2021

Posted on November 20, 2021 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices November 20 2021

Fox Valley home prices November 20 2021. New listings of single family homes were up. 153 this week compared to 139 the previous week. There are ups and downs throughout the year, but there is activity every week. Some months are slower, but there is always a need to sell for many different reasons. If you are still waiting for a home to come up that is right for you be patient.

Closed listings of single family homes was also up. 260 this week compared to 206 the previous week. It can be tricky trying to close before and after a holiday. The next couple of weeks some closings might be shuffled around because of scheduling issues.

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

Aurora-New 23 $115,000-$498,900

Closed-41 $88,900-$530,000

Bolingbrook-New 13 $210,000-$490,000

Closed-20 $220,000-$520,000

Montgomery-New 8 $179,900-$350,000

Closed-12 $175,000-$405,000

Naperville-New 20 $349,900-$4,700,000

Closed-42 $262,500-$1,659,205

Oswego-New 6 $120,000-$795,000

Closed-16 $219,000-$510,000

Plainfield-New 21 $249,900-$564,900

Closed-30 $220,000-$715,000

St Charles-New 8 $305,000-$695,000

Closed-21 $140,000-$1,099,000

Yorkville-New 8 $240,000-$450,000

Closed-15 $215,000-$563,950

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

Median list price this week $359,000, last week $340,000

Closed listings had a median price of $367,944, last week $338,749.

Stats November 20 2021 — Stats this week

Conventional financing was the most used this week. 185 at median price of $390,990, last week 140 at median price of $363,500.

Cash deals closed this week with 26 at median price of $377,000, last week 29 at median price of $345,000.

Conventional and Cash November 20 2021 — Conventional and Cash

FHA deals closed this week with 36 at median price of $286,945, last week 31 at median price of $273,000.

VA deals closed this week with 11 at median price of $374,900, last week 5 at median price of $285,000

FHA and VA November 20 2021 — FHA and VA

2,000 or more square feet closed this week with 158 at a median price of $435,000, last week 107 with a median price of $430,000. Minimum closed price this week $255,000, last week $139,000. This give you an idea of prices in the Fox Valley area if you are looking for more square footage.

2000 or more SF November 20 2021 — 2,000 or more square feet

Contracts accepted this week

Accepted contracts this week in the Fox Valley area of single family homes was up. 235 this week compared to 227 the previous week. New listings were way down last week so this is good news. Homes that might of been overlooked received contracts.

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

Aurora-33 Batavia-12

Bolingbrook-22 Geneva-10

Naperville-33 Plainfield-28

St Charles-15 Sycamore-11

West Chicago-10 Yorkville-13

No short sales were accepted by seller’s this week. That does not mean that they are not out there, but most homes have appreciated enough that they do not have to sell short.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours and 6 with 48 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 hour and 1 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 1288 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

September1083 1411 1251

October 715 973 930

November 475 696 740

Totals 10141 11717 12710

June was the best month for all three. Sales tend to slow down the last 2 months of the year. We are already ahead of January and February with closed homes and we have a little more than a week to go.

New listings have slowed down. Buyers are still out there waiting for more homes to come on the market. Prices have slowed some buyers down, but there are still buyers out there ready to buy even though prices have increased.

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 your home? Request a home valuation and give us some information about your home and what has been updated recently. Roof, siding, wiring, plumbing, furnace, Air conditioning, interior paint, remodeled kitchen or baths. Any additions or professional landscaping. Did you get permits? We will provide you with a net proceeds that shows you an estimate of expenses to sell so you will have an idea 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 need to get pre approved with a loan officer. Get all your financial information together and submit them to a loan officer so they can get you pre approved. They will give you a letter showing what type of loan and how much you qualify for. We will submit this with an offer when you find a home so you can show the seller that you do qualify for their home.

Resources:

Check with your loan officer for the current rates that you qualify for with your credit score. They also might offer some assistance so it is always good to have that conversation with them.

If you need recommendations for a loan officer, real estate attorney or home inspector we can recommend a few for you to contact and you decide who you would like to work with.

All data provided is from our MLS MRED, LLC.

Fox Valley home prices November 20 2021. 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

Fox Valley home prices November 13 2021

Posted on November 13, 2021November 14, 2021 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices November 13 2021

Fox Valley home prices November 13 2021. New listings of single family homes are way down. 139 this week compared to 183 the week before. Competition is way down right now if you are thinking about selling.

Closed single family homes this week were also down. 206 this week compared to 230 the week before. This is understandable since we are at the beginning of the month. Most buyers want to close at the end of the month.

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

Aurora-New 24 $130,000-$745,000

Closed-42 $135,000-$525,000

Bolingbrook-New 7 $175,000-$500,000

Closed-28 $217,000-$1,020,000

Elburn-New 12 $210,000-$920,000

Naperville-New 14 $222,000-$935,000

Closed-30 $320,000-$1,575,000

Oswego-New 8 $235,000-$500,000

Closed-11 $260,000-$525,000

Plainfield-New 15 $229,900-$674,900

Closed-23 $218,000-$575,000

St Charles-New 16 $250,000-$1,299,000

Closed-19 $180,000-$1,235,000

We hope to see improvement this week with new homes coming on the market.

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

Median list price this week $340,000, last week $350,000.

Closed median price this week $338,749, last week $350,000.

Stats November 13 2021 — Median prices this week

Conventional closed single family homes 140 at a median price of $363,500, last week 149 at $370,000.

Cash closed 29 with a median price of $345,000, last week 22 at $290,000.

Conventional and Cash November 13 2021 — Conventional and Cash

FHA closed 31 with a median price $273,000, last week 48 at $305,000.

VA closed 5 with a median price of $285,000, last week 11 at $271,000.

FHA and VA November 13 2021 — FHA and VA Financing

2,000 or more square feet closed 107 with a median price of $430,000, last week 129 at $420,890. Minimum price this week $139,000, last week $240,000. This gives you an idea of the prices if you are thinking about buying a home with a little bit more space.

2000 SF or more November 13 2021 — 2000 or more square feet

Contracts accepted this week

Contracts accepted this week on single family homes was down. 227 this week compared to 278 the week before. Next week we hope to increase the new listings so there is more available to buyers.

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

Aurora-32 Batavia-13

Bolingbrook-19 Naperville-28

Oswego-14 Plainfield-37

St Charles-17 West Chicago-12

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. 6 with a kick-out clause of 72 hours, 5 with 48 hours and 1 with 24 hours.

Also, seller’s accepted contracts that are contingent to the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours and 6 with 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 1288 1289

June 1450 1686 1671

July 1118 1182 1210

August 1109 1203 1170

September 1083 1411 1251

October 715 973 930

November 322 436 505

Totals 9988 11457 12475

June was the most active month so far this year across the board with new listings, closed and contracts accepted. All signs look like 2022 will be similar to this year. Prices might not go up as fast as they did this year. Until more homes are built or commercial property converted to residential purposes inventory will not increase. There just is not enough homes for the need.

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.

I have been attending our National Association of REALTORS® Conference virtually yesterday, today and tomorrow. They have had some great sessions. Talking about the economy, appraisals in today’s market and so much more. They are holding it out in San Diego. One of my favorite places.

Thinking about selling your home in the near future? Request a home valuation and give us a little information about your home and what has recently been updated. We will let you know what it 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. If you are planning on waiting until after the first of the year. We can update closer to when you are ready.

You might want to plan ahead if you are thinking about buying a home and are wanting to do that by a certain date. You will need to get all your financial information together and get it to a loan officer if you haven’t already done that. You need to get pre approved. They will give you a letter after they are completed that shows what type of loan and how much you qualify for. This will go with an offer when you find a home.

Resources:

You will want to check with your loan officer for the rates that they are currently offering with your credit score.

Do you need recommendations for loan officers, real estate attorney, or home inspector? We can provide you a few of each so you can contact them and decide who you would like to work with.

All data is from our MLS MRED, LLC.

Fox Valley home prices November 13 2021. 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

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 23

Posted on June 12, 2021June 12, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 23

2021 real estate market update week 23. New listings of single family homes were down this week. 297 this week compared to 314 the week before. Not by much, but any decrease just makes it harder for the buyers that are waiting for new homes to come on the market.

Closed listings of single family homes was slightly down. 317 this week compared to 321 the week before. Consistency is what we like to see. They should increase as we get closer to the end of the month.

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

Aurora-New 43 $140,000-$649,900

Closed-36 $120,500-$700,000

Batavia-New 9 $240,000-$664,900

Closed-13 $241,000-$550,000

Bolingbrook-New 27 $224,853-499,900

Closed-13 $190,000-$788,000

Geneva-New 11 $240,108-$879,900

Closed-14 $335,000-$1,095,000

Montgomery-New 7 $190,000-$319,900

Closed-10 $165,000-$335,000

Naperville-New 68 $274,500-$2,699,000

Closed-60 $299,000-$1,100,000

Oswego-New 16 $164,900-$689,900

Closed-20 $175,000-$575,000

Plainfield-New 28 $225,000-$895,000

Closed-39 $240,000-$605,000

St Charles/Campton Hills-

New 27 $250,000-$2,299,900

Closed-33 $205,000-$1,405,000

Sycamore-New 6 $159,900-$650,000

Closed-12 $161,000-$440,000

Wet Chicago-New 11 $250,000-$699,900

Closed-5 $160,000-$680,000

Yorkville-New 6 $269,900-$899,900

Closed-16 $235,000-$1,258,000

Median list price this week was the same as last week $375,000

Median closed price this week was $375,000, and last week it was $390,000

Contracts accepted this week

Contracts accepted this week were higher. 345 this week compared to 314 the week before. Buyers are not slowing down. We are still seeing multiple offers. If you are thinking about selling now is the time to call us, and get it on the market.

Look at the communities sellers accepted the most contracts:

Aurora-47 Bolingbrook-31

Geneva-15 Naperville-57

Oswego-24 Plainfield-45

St Charles/Campton Hills-24 Sycamore-11

West Chicago-12

No contracts were accepted on any short sales this week. Prices have gone up enough, for a lot of them, to sell without having to go the short sale route.

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

Also, sellers 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 5 with 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 611 638 659

Totals 4802 5144 6397

Closed is the most important column to look at. These are actual numbers.

Some get contracts accepted, and then go back on the market.

New listings can also go back on as a new listing.

May is the best month so far for closed listings.

Check back with us every Saturday. At the end of the month we will compare to 2020 and 2019 so you can see how the market is doing this year.

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.

If you are thinking about selling your home request a home valuation. Give us a little information about recent updates that have been 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.

Thinking about buying this year? You need to get pre-approved with a loan officer. Get them all your financial documents so they can put you through underwriting. You need to take this extra step because you will most likely be up against multiple offers.

Resources:

If you need recommendations for real estate attorney, home inspector or loan officers we can give you a few to contact.

2021 real estate market update week 23. Have a great week!

Kristine Heiman, 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 20

Posted on May 22, 2021May 22, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 20

2021 real estate market update week 20. New listings of single family homes are down. 267 this week compared to 294 the week before. This is making it even harder for buyers. Right now they are competing with multiple offer situations. This increases their competition.

Closed listings of single family homes are up. 299 this week compared to 266 the week before. We are getting closer to the end of the month when most buyers want to close.

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

Aurora-New 34 $109,000-$739,900

Closed-37 $131,500-$593,000

Batavia-New 8 $346,000-$519,000

Closed-12 $146,000-$650,000

Bolingbrook-New 12 $209,900-$545,000

Closed-17 $185,000-$502,350

Geneva-New 14 $239,500-$749,000

Closed-13 $240,000-$907,000

Montgomery-New 10 $169,900-$329,000

Closed-7 $199,000-$325,000

Naperville-New 63 $324,900-$1,350,000

Closed-58 $300,000-$1,450,000

Oswego-New 7 $310,000-$500,000

Closed-20 $215,000-$500,000

Plainfield-New 31 $234,000-$758,400

Closed-36 $250,000-$610,000

St Charles/Campton Hills-

New 28 $189,900-$1,995,000

Closed-32 $180,000-$1,075,000

West Chicago-New 8 $250,000-$699,999

Closed-11 $190,000-$515,000

Yorkville-New 8 $257,500-$1,150,000

Closed-14 $205,000-$685,000

Median list price this week $369,054 compared to last week $375,000

Median closed price this week $358,000 compared to last week $360,000

Contracts accepted this week

Contracts accepted this week were up. 322 this week compared to 290 the week before. Right now it almost makes you feel like you won the lottery when you get your offer accepted with all the competition that is out there.

Look at the communities that sellers accepted the most contracts:

Aurora-59 Bolingbrook-23

Geneva-17 Montgomery-11

Naperville-52 Oswego-17

Plainfield-33 Plano-12

St Charles/ Campton Hills-20 Sycamore-10

West Chicago-14

1 short sale was accepted this week on a single family home. It was in Naperville. 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. 6 with a kick-out clause of 72 hours, 1 with 48 hours and 2 with 24 hours.

Also, sellers 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 also 1 with 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 797 843 952

Totals 3900 4121 5401

Closed is actual numbers. New and contracts accepted can not be relied on. Some new listings can be listed as new again. Contracts accepted, if they do not make it past the home inspection and attorney review, can go back on the market and get another contract.

So far March has been the best month this year for closed homes.

Check back with us every Saturday for the market update. Next week we will compare to 2020 and 2019. We do that at the end of every month so you can see how this year is going.

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.

This is the best time to sell if you are thinking about it anytime in the near future. Prices are increasing with the continued low inventory of homes for sale.

Request a home valuation to see what your home is worth in today’s market. I think you will be be very pleasantly surprised. Tell us about your home and what you have updated recently. We will provide you with a net proceeds that shows you the expenses to sell. It will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home this year? Plan way in advance. You are up against a lot of competition. You might need to put offers on a few homes before you get your offer accepted You need to work with a lender that will pre approve you subject to finding the home. It will take more than just a phone call. You will need to submit all your financial information so make sure you have all that together.

Resources:

We can make recommendations for loan officers, real estate attorneys and home inspectors that you can choose from if you don’t know someone already.

2021 real estate market update week 20. Have a great week!

Kristine Heiman-Designate Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Market Update Week 11

Posted on March 20, 2021March 20, 2021 by Kristine Heiman, Designated Managing Broker

2021 Market Update Week 11

2021 market update week 11. New listings on single family homes were down this week. 171 this week compared to 218 the week before. We are going in the wrong direction. Today is the first day of Spring. We should be listing more not less homes. Seller’s where are you? Contact me as soon as possible.

Closed listings of single family homes were up this week. 226 this week compared to 177 the week before. We are heading towards the end of the month when most buyers want to close. They should increase next week as well.

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

Aurora-New 16 $99,900-$699,000

Closed-21 $140,000-$544,000

Bolingbrook-New 12 $229,700-$410,000

Closed-12 $217,000-$438,820

Geneva-New 7 $239,900-$574,900

Closed-12 $259,000-$605,000

Naperville-New 53 $269,900-$3,000,000

Closed-51 $287,500-$1,304,000

Oswego-New 5 $269,900-$509,900

Closed-15 $220,000-$505,000

Plainfield-New 24 $183,000-$629,000

Closed-27 $195,000-$584,652

St Charles/Campton Hills-

New 14 $199,900-$1,450,000

Closed-17 $212,100-$1,200,000

Yorkville-New 6 $240,000-$425,000

Closed-10 $240,000-$414,000

You should be able to click on the photo above to see the other communities and price ranges. You might need to look at these other communities that are not your first choice to find a home. They are going fast though everywhere.

Contracts accepted this week

Contracts accepted on single family homes were up this week. 304 accepted this week compared to 289 the week before. Buyers are fighting over the listings that are available. Multiple offers are here to stay until more homes come on the market.

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

Aurora-44 Bolingbrook-20

Geneva-18 Montgomery-13

Naperville-57 Oswego-12

Plainfield-47 St Charles/Campton Hills-22

Yorkville-17

2 short sales were accepted by seller’s this week. 1 each in North Aurora and Sycamore. Now they will be submitted to the lender to see if they will also accept.

Seller’s accepted contracts this week 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, a seller accepted a contract that is contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours.

I really thought it would happen sooner that seller’s would not accept contracts that buyer’s still had to sell their home and close. With all the competition out there and multiple offers seller’s are looking for the offer that has as few hurdles as possible to get past.

2021 market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 579 616 853

Totals 1683 1869 2460

Check back with us every Saturday for the market update. At the end of the month I will compare to 2020 and 2019 so you will have something to compare to so you can see how the market is going.

March is not even over yet and all the totals look like they will be higher than the previous 2 months. We need to at least double the new listings though.

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. Give us a little information about any updates you have recently completed. We will let you know what your home is worth in today’s market. 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 a home? Contact a loan officer with all your financial information to get prequalified. You need to have everything in place and ready to go just in case you find a home. Multiple offers are the norm right now so you might not want to look at the top of your price range unless you have more cash to put down. So many homes are getting offers above the listed price because of low inventory of homes for sale.

Resources:

Let us know if there is other information that you are looking for. I would be happy to point you in the right direction. If you need recommendations for loan officers, home inspectors or real estate attorneys. We can give you a few of each to contact to see which one you would prefer to work with.

2021 market update week 11. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Market update Fox Valley week 47

Posted on November 21, 2020 by Kristine Heiman, Designated Managing Broker

Market update Fox Valley week 47

Market update Fox Valley week 47. New listings of single family homes were about the same. 150 this week compared to 152 the week before. This is typical for this time of year before the holidays but this year the amount of buyers out there ready to buy is not getting satisfied. Multiple offers are a common thing right now. Buyers are using escalation clauses, waiving home inspections and trying to be creative to win.

Closings on single family homes this week were up 54.77%. 308 this week compared to 199 the week before. Next week is going to be a short week with the Thanksgiving holiday so that is why there is such an increase.

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

Aurora-New 17 $139,900-$385,000

Closed-41 $70,070-$510,000

Batavia-New 5 $297,500-$489,500

Closed-15 $174,000-$855,000

Bolingbrook-New 10 $169,900-$344,900

Closed-20 $155,000-$507,670

Geneva-New 8 $255,000-$792,000

Closed-19 $235,000-$625,000

Minooka-New 3 $275,000-$288,150

Closed-14 $124,000-$650,000

Montgomery-New 5 $189,900-$289,900

Closed-13 $141,277-$295,000

Naperville-New 26 $299,900-$1,400,000

Closed-44 $270,000-$1,775,000

Oswego-New 12 $299,900-$529,900

Closed-20 $248,000-$525,000

Plainfield-New 19 $184,000-$749,000

Closed-34 $182,500-$565,000

St Charles/Campton Hills-

New-10 $237,900-$889,900

Closed-16 $225,500-$548,000

Yorkville-New 2 $199,000-$299,390

Closed-16 $235,000-$849,000

Most of these communities consistently see higher activity. Is that what you are looking for or a smaller more stable community?

Contracts accepted this week

Contracts accepted this week on single family homes were down 5.02%. 227 this week compared to 239 the week before. With only 152 new listings added last week this turned out better than expected.

Look at the communities sellers accepted the most contracts:

Aurora-33 Bolingbrook-17

Geneva-10 Naperville-34

Plainfield-30 St Charles/Campton Hills-15

West Chicago-12 Yorkville-11

2 short sales were accepted this week. 1 each in Bolingbrook and North Aurora. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyers closing on their current home. 6 with a kick-out clause of 72 hours and 7 with 48 hours.

Also, sellers 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 also 2 with 48 hours.

Sellers still have confidence in the market to accept these contingencies. It has been a crazy year but the market has been good!

2020 by the month

Month New Closed Contracts accepted

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

September 1176 1503 1503

October 843 1116 1159

November 476 792 699

Totals 11739 10705 13363

The closed column is the most important one to look at. These are actual numbers. New and contracts accepted might not be because of listings relisted as new even though they are not. Contracts can get accepted and not make it through the home inspection and attorney review period and go back on the market and then come up as contract accepted again.

Check back with us next week and we will also look back at 2019 and 2018. I do that at the end of each month so you can see how the market is doing compared to those other 2 years.

Contact us

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

Thinking about selling your home? Request a home valuation and we will show you what it is work in today’s market. I 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.

Are you thinking about buying a home? Get your tax returns for 2 years, check stubs, bank statements and anything you pay monthly together and call a loan officer to get prequalified. They will tell you the price range and what type of loan will work out best for your situation. If you need recommendations I would be happy to give you a few names and numbers to contact and you can choose who you want to work with. They will give you a letter showing what you qualify for and that will go with an offer when you find a home. If it is older than 30 days it will need to be updated.

Check out some great resources:

If you are looking for other types of information let me know I would be happy to tell you where to look. Some of the links provided also give you other information that you might be interested in.

Market update Fox Valley week 47. Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101