Market Update Fox Valley
Market Update Fox Valley-January 12 2019. New listings are really starting to pick up. 279 new listings this week compared to 166 last week. Buyers you now have more choices to choose from. If you need to update your preapproval letter now is the time to do that. It should be no older than 30 days.
Closing this week were pretty close to last week. 101 closings this week compared to 109 last week. Last week some of them were ones that didn’t close by the end of December and had to carry over into the new month. The beginning of the month is usually slower with closings. They should pick up as we get closer to the end of the month. That is when most buyers want to close so they can bring less money to closing.
Take a look at the communities with the most activity this week:
Aurora-New 38 $132,500-$499,000 Closed-12 $50,500-$359,900
Bolingbrook-New 13 $159,900-$395,000 Closed-10 $145,000-$402,000
Geneva-New 10 $195,000-$929,900 Closed-5 $205,000-$522,153
Naperville-New 65 $249,000-$1,225,000 Closed-17 $150,000-$1,260,000
Plainfield-New 42 $174,000-$725,000 Closed-10 $167,000-$475,000
St Charles/Campton Hills-New 27 $225,000-$1,200,000 Closed-8 $244,000-$625,000
Yorkville-New 16 $199,900-$499,900 Closed-2 $207,500-$365,000
Contracts Accepted this Week
Contracts accepted this week were slightly up. 129 contracts accepted by Sellers this week compared to 114 last week. Things are starting to pick back up after the holidays. More inventory might get even more people out this week. If you are thinking about selling now is a good time to beat the Spring rush where you will have more competition to sell.
Take a look at the communities Sellers accepted the most contracts this week:
Aurora-21 Bolingbrook-15 Naperville-20
Plainfield-18 St Charles/Campton Hills-13
Accepted contracts for short sales doubled this week. 8 this week compared to 4 last week. Now they will be submitted to the lender to see if they will also accept as written. These numbers are still very low and we hope they stay that way. 2 of those were properties in Aurora and 1 each in Batavia, Bolingbrook, Montgomery, North Aurora, St Charles/Campton Hills & West Chicago.
Sellers accepted contracts this week that are contingent on the Buyer closing on their current home before purchasing. 3 with a kick-out clause of 72 hours, 2 with 48 hours and 1 with 24 hours.
Contracts were also accepted by Sellers that are contingent on the Buyer selling and closing on their current home before purchasing. 1 with a kick-out clause of 72 hours and also 1 with 48 hours.
Call us at 630-503-6555 Jeffery Szymczak-Broker ext 104, Bobby Burson-Broker ext 105 or Kristine Heiman-Managing Broker ext 101 with all of your real estate questions. Our goal is to negotiate price and terms that are best whether you are buying or selling a home. We make it our business to find you the perfect fit for your needs.
Do you need to find a loan officer? We can make some recommendations of ones we have successfully worked with so you can get preapproved. The letter they provide you with will need to go with an offer when we find a home that you like.
Thinking about selling this year? Contact us to update the value on your home in the current market and let you know what you need to do to get your home market ready. We will provide you with a net proceeds that is an estimate of expenses to sell. This will be updated when an offer comes in and we know all of the terms so you can make an informed decision.
Things you might want to check out:
- loans and the process
- VA loans and the requirements
- current interest rates
- down payment assistance
- Illinois assistance and some community assistance
- school ratings
This market update is for Single Family homes only. If you would like information on other types of properties let us know. We would be happy to provide it to you.
Market update Fox Valley-January 12 2019. Have a great week!
Kristine Heiman-Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538