Market Update Fox Valley October 28 2017
Market Update Fox Valley October 28 2017. New listings increased 8 1/2% this week. 223 this week compared to 190 last week. Great news but we still need to see this percentage higher to meet the demand of buyers.
Closed listings increased 9%. 194 this week compared to 178 last week. The end of the month is usually when you see the most closed listings. We are down almost 7 1/2 % percent from the end of the month in September. We still have Monday & Tuesday left for closings for the month so the final figures for October are not in yet.
Take a look at the communities with the most activity this week:
Aurora-New 24 Closed 32
Batavia-New 6 Closed 12
Bolingbrook-New 15 Closed 12
Naperville-New 39 Closed 35
Plainfield-New 35 Closed 27
St Charles-New 19 Closed 13
West Chicago-New 11 Closed 8
Yorkville-New 12 Closed 12
The chart above shows you the communities with minimum and maximum price range for New listings and Closed listings. Many factors go into why some communities are consistently more active then others. Schools, work, roads & what a community has to offer. Let us know what you are looking for in a community and a home.
Market Update Fox Valley October 28 2017-Accepted Contracts This Week
Market Update Fox Valley October 28 2017-Accepted Contracts this week. Contracts accepted this week decreased 9.5%. 207 this week compared to 217 last week. New listings were down 8% last week so that contributed to the decrease in contracts accepted this week. The inventory just is not keeping up with the demand.
Short sales accepted this week were down. 3 this week compared to 11 last week. 1 in St Charles and 2 in West Chicago. Now they will move on to the mortgage company to see if they will also accept them as written. Prices have come up with low inventory. There is not as many short sales because of this.
Sellers accepted contracts with a contingency on the buyer closing on their current home. The buyers have already accepted a contract on their home but need to close before purchasing. 2 with a kick-out clause of 72 hours, 5 with 48 hours and 2 with a 24 hour kick-out clause.
Contracts were also accepted by sellers with a contingency that the buyer still needs to sell their home. They might or might not already have their home on the market. 4 with a kick-out clause of 72 hours and 6 with 48 hours.
Take a look at the communities that had the most activity with sellers accepting contracts this week:
The chart above shows you how many contracts accepted in each community.
Resources for you to take a look at if you are thinking about purchasing a home. CFPB to see about the different types of loans and the process. We can make recommendations of loan officers to contact that we have successfully worked with. Down Payment Resource to see if any help is available to you. You can also go to the community website you are thinking about to see if they offer any help with grants and what they have to offer in activities. You can check out school ratings.
If you are thinking about selling your home you can request home valuation to see where you are at in the current market. We will also provide an estimate on net proceeds so you can see if it makes sense to sell now. The net proceeds will be updated when a contract comes in with the price and terms so you can make a decision. Give you advice on getting your home market ready.
Contact us at 630-503-6555 Jeffery Szymczak-Broker ext 104, Bobby Burson-Broker ext 105 or Kristine Heiman-Managing Broker ext 101. You can also fill out the contact form if you prefer to let us know how and when you would like us to contact you.
You can search for homes anytime whether you are thinking about selling a home, purchasing or would just like to keep an eye on the market. We make it our business to find the perfect fit for your needs. Price and terms that are best. Best Homes Fox Valley. Market Update Fox Valley October 28 2017