Market Update Fox Valley-October 6 2018
Market update Fox Valley-October 6 2018. New listings were slightly lower this week. 273 this week compared to 281 last week. We are slowing down slightly but not extremely. It is still a good time to sell your home. This is a good time to get into a home before the holidays.
Closings this week were down. 188 this week compared to 258 last week. This is to be expected with the beginning of the month. It will increase as we head into 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 36 $80,000-$599,000 Closed-29 $66,000-$460,000
Batavia-New 8 $209,000-$1,100,000 Closed-10 $171,000-$570,000
Bolingbrook-New 24 $155,000-$625,000 Closed-12 $216,000-$375,000
Naperville-New 47 $190,000-$1,999,000 Closed-30 $190,000-$1,690,887
Oswego-New 24 $179,000-$1,200,000 Closed-4 $221,600-$342,500
Plainfield-New 40 $199,000-$999,000 Closed-25 $161,000-$1,100,000
St Charles/Campton Hills-New 21 $249,900-$2,995,000 Closed-7 $160,000-$825,000
West Chicago-New $169,900-$435,000 Closed-11 $174,000-$340,000
Yorkville-New 9 $148,900-$399,900 Closed-$215,000-$595,000
Contracts Accepted this Week
Contracts accepted this week were pretty consistent with last week. 207 this week compared to 211 last week. Homes are still selling in the Fox Valley. There is still time to sell before the end of the year.
Take a look at the communities that sellers accepted the most contracts:
Aurora-35 Bolingbrook-13 Montgomery-12 Naperville-36
Plainfield-26 St Charles/Campton Hills-15 Yorkville-10
Short sales were consistent with last week. 5 this week compared to 4 last week. Now they will be submitted to the lender to see if they will also accept contract as written. This takes time to get a response from the lender.
Sellers accepted contracts that are contingent on the buyers home closing before purchasing. 4 with a kick-out clause of 72 hours, 8 with 48 hours and 3 with 24 hours.
Contracts were also accepted by sellers that buyers still needs to sell their current home and close before purchasing. 3 with a kick-out clause of 72 hours, 4 with 48 hours and 3 with 24 hours.
Call us at 630-503-6555 and ask for 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. We are here to answer any questions that you have.
Are you thinking about selling a home? We will update your homes value and provide you with a net proceeds so you have an idea of the expenses and what you might walk away with at closing. This will be updated when an offer comes in and we know all the terms.
If you are thinking about purchasing, a good place to start is learning about the different types of loans and the process. Especially if this is your first time buying or you haven’t purchased a home in a long time. You will need to get pre-qualified with a loan officer. They will provide you with a letter that states what you qualify for and that will be submitted with an offer when you do find a home.
Veterans can learn about the requirements and process for getting a VA loan. You will want to talk to your loan officer to make sure they do VA loans.
Check out current interest rates. You might want to keep an eye on them because they keep talking about them going up.
Down payment assistance is something everyone should look at. You might just qualify for some help. If you are a Veteran, Police officer or teacher you especially want to look. Illinois and some communities also offer assistance. Look at the community website that you are looking in.
Market update Fox Valley-October 6 2018. Have a great week!
Kristine Heiman-Managing Broker
Best Homes Fox Valley-Search for a home today!
1444 N Farnsworth Ave, Suite 104
Aurora, IL 60505