Market update Fox Valley week 28

Market update Fox Valley week 28.  The market is still hot!  New listings of single family homes were up 12.59%.  313 this week compared to 278 the week before.  If more home were on the market it would be even hotter.  Inventory is so low.  Now is the time to sell.  Covid-19 has not slowed down the market.  I think it has increased the market.  Buyers are looking for a home with office space and more room with a bigger yard.

Closed single family homes were down 45.92%.  199 this week compared to 368 the week before.  This is the first full week of July so this is to be expected.  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 37 $132,900-$582,000

            Closed-28 $116,800-$483,000

Bolingbrook-New 13 $199,900-$389,900

                     Closed-16 $144,000-$498,030

Geneva-New 12 $265,000-$1,495,000

             Closed-8 $295,000-$422,000

Montgomery-New 15 $144,000-$301,900

                     Closed-12 $180,000-$296,900

Naperville-New 59 $300,000-$1,350,000

                 Closed-28 $282,000-$755,000

North Aurora-New 10 $249,999-$429,900

                       Closed-4 $266,000-$335,982

Oswego-New 17 $259,900-$450,000

              Closed-11 $229,000-$520,000

Plainfield-New 38 $209,000-$795,000

                Closed-23 $160,000-$540,000

Plano-New 10 $179,000-$349,000

          Closed-6 $183,000-$225,000

St Charles/Campton Hills-

           New-31 $150,000-$2,195,000

           Closed-10 $165,500-$800,000

Sugar Grove-New 10 $225,000-$849,900

                     Closed-2 $264,000-$275,000

Yorkville-New 19 $195,000-$339,900

              Closed-11 $197,500-$447,500

Contracts accepted this week

Contracts accepted this week were down 12.56%.  341 this week compared to 390 the week before.  This is due to low inventory.  If there were more homes on the market these numbers would go up.  During the week of the 4th new listings were down.  Hopefully more homes will come on the market now that we are past the holiday.  We hope they spent the week getting their home ready for market.

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

Aurora-37                                    Bolingbrook-16

Elburn-11                                     Geneva-10

Montgomery-12                           Naperville-70

Oswego-18                                   Plainfield-46

St Charles/Campton Hills-29        West Chicago-16

Yorkville-15

Only 1 short sale was accepted by seller’s this week.  It was a home in Sandwich.  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.  14 with a kick-out clause of 72 hours, 16 with 48 hours and 5 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 7 with a kick-out clause of 72 hours, 3 with 48 hours and 2 with 24 hours.  There was 1 that did not have information other than it was contingent on the sale and close of the buyer’s home.

2020 by the month

Month                            New   Closed   Contracts accepted

Janauary                     1,105      566             858

February                     1,267      529          1,024

March                        1,186       707          1,079

April                             648       786              775

May                           1,352   1,010           1,444

June                          1,232       908           1,534

July                              591       567              731

Totals                        7,381    5,073           7,445

Check back with us every Saturday for the market update Fox Valley.  At the end of each month we will also compare to 2019 and 2018 so you can see the changes over the current year with the other 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.

Thinking about selling your home this year?  Now is the best time!  If you are concerned about showing your home there is options.  There is virtual showings with video or a photographer can do a 3D scan of your home.  Would you like to see an example of that just let us know.  You can set the instructions for showings.  We can update the current value of your home and provide you with a net proceeds that shows you an estimate of expenses.  This will be updated when an offer comes in and we know all the terms.

Are you wanting to buy a home?  Your first step is to talk to a loan officer that will tell you the price range and the type of loan that will work out best for your situation.  They will give you a letter showing what you qualify for that will go with an offer when you find the right home.

Check out some great resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• Illinois homeowner assistance and some community assistance

We are here to guide you through the process from beginning until you get to closing.

Market update Fox Valley week 28.  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

besthomesfv@gmail.com