Market Update Fox Valley-October 27 2018
Market Update Fox Valley-October 27 2018. New listings this week were down. 223 this week compared to 269 last week.
Closed listings were up. 192 this week compared to 188 last week. That is to be expected with the last week of the month.
I posted above the picture of this week and this week last year. Talk about being right on target. You can’t compare closer than this.
This week 223 new listings and 192 closed. Last year this week 223 new listings and 194 closed.
Take a look at the communities with the most activity this week:
Aurora-New 29 $79,500-$452,000 Closed-28 $75,000-$390,000
Bolingbrook-New 12 $159,000-$415,000 Closed-12 $132,100-$365,500
Geneva-13 $189,900-$775,000 Closed-6 $283,595-$563,750
Naperville-43 $245,000-$1,975,000 Closed-30 $238,000-$1,120,000
Plainfield-24 $195,000-$815,000 Closed-29 $174,000-$437,500
St Charles/Campton Hills-16 $207,500-$874,900 Closed-22 $150,000-$640,000
Sycamore-New 13 $98,900-$324,836 Closed-3 $81,000-$320,000
Contracts Accepted this Week
Take a look at the communities that Seller’s accepted the most contracts:
Aurora-29 Batavia-11 Bolingbrook-12
Naperville-22 Plainfield-29 St Charles/Campton Hills-15
Short sales this week are staying consistently low. 6 this week compared to 4 last week. Now they will submitted to the lender to see if they will also accept as written.
Seller’s accepted contracts that are contingent on the Buyer’s current home closing. 3 with a kick-out clause of 72 hours, 7 with 48 hours and 1 with 24 hours.
Contracts were also accepted by Seller’s that the Buyer’s current home needs to sell and close before purchasing. 1 with a kick-out clause of 72 hours and 5 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. Our goal is to negotiate price and terms that are best whether buying or selling a home.
Selling a home during the holidays can be challenging and exciting. Priced right you can be in a new home before the holidays. You will not have as much competition as you do in Spring market. We can update the value of your home in the current market and provide you with a net proceeds so you have an estimate of expenses. This will be updated when an offer comes in so you can make a good decision.
If you are just starting to look at homes you will want to learn about the different types of loans and the process. Then contact a loan officer to determine the price range that works for you. You will be provided with a letter from the lender showing what you qualify for. This will be submitted with your offer when you find a home. It needs to be updated if it is older than 30 days.
Keep up to date with interest rates. They might be on the way up. The interest rate you will be offered will be determined on your credit score.
You should always check to see if you qualify for any help with down payment assistance or closing costs. If you are a teacher, veteran or police officer you definitely should check. Illinois and some communities also offer assistance. Check the community website that you are looking in to see if they also offer any help.
Are you a Veteran? You might want to check the requirements and process for getting a VA loan. Find a lender that does a lot of these loans so everything goes smoothly.
Market update Fox Valley-October 27 2018. Have great week!
Kristine Heiman-Managing Broker
Best Homes Fox Valley-Search for a home today!
1444 N Farnsworth Ave, Suite 104
Aurora, IL 60505