2021 Real Estate Market Update Week 22

Posted on June 5, 2021June 5, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 22

2021 real estate market update week 22. New listings of single family homes were up. 314 this week compared to 291 the week before. We will take any increase no matter how small.

Closed listings of single family homes were down. 321 this week compared to 385 the week before. This is the difference between the end of the month and the beginning. Most buyers want to close at the end of the month to bring less money to closing.

Take a look at the communities with the most activity this week:

Aurora-New 41 $105,000-$689,900

Closed-39 $127,000-$511,983

Bolingbrook-New 23 $235,000-$797,777

Closed-10 $295,000-$435,000

Geneva-New 15 $265,000-$748,995

Closed-14 $237,500-$750,000

Montgomery-New 5 $240,000-$329,900

Closed-12 $165,000-$320,000

Naperville-New 66 $324,900-$1,795,000

Closed-76 $260,000-$1,419,900

Oswego-New 19 $229,500-$599,000

Closed-22 $257,000-$740,000

Plainfield-New 51 $219,900-$849,000

Closed-53 $180,000-$540,000

St Charles/Campton HIlls-

New 26 $189,000-$1,895,000

Closed-25 $255,000-$900,000

Wet Chicago-New 7 $220,000-$649,900

Closed-11 $180,000-$770,000

Median listing price this week is $375,000, and last week it was $355,000.

Median closed price this week is $390,000, and last week it was $355,000

Contracts accepted this week

Contracts accepted this week are down. 314 this week compared to 337 the week before. They are not down by too much to be concerned about any changes.

Look at the communities that sellers accepted the most contracts this week:

Aurora-53 Batavia-11

Bolingbrook-21 Geneva-19

Montgomery-12 Naperville-53

North Aurora-12 Plainfield-42

St Charles/Campton Hills-15 West Chicago-15

1 short sales was accepted by a seller this week. It was in Elburn. Now it will get submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, and also 3 with 48 hours.

Also, sellers accepted contracts that are contingent on the buyers selling and closing on their current home. 2 with a kick-out clause of 48 hours, and also 2 with 24 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

June 314 321 314

Totals 4505 4827 6052

Closed is the column to always pay the most attention too. These are actual numbers. Some homes can go back on the market and then get another contract.

May looks to be the best month so far for closings. It makes sense that March was the best month for contracts accepted. You can see the difference though in how many of those closed.

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.

What are you waiting for? Let’s get your home on the market! Request a home valuation so we can show you what is is worth in today’s market. We will provide you with a net proceeds that shows you the expenses to sell so you know what you have to work with. This will be updated once an offer comes in and we know all the terms so you can make a good decision.

If you are wanting to buy a home this year you need to find a loan officer that will get you pre approved, not just prequalified. YOu need to provide them with your tax returns and all financial information. Today the market is too competitive. You have to take the extra step and get pre approved subject to finding the home.

Resources:

It is wonderful to be a seller right now. Frustrating to be a buyer.

We an make recommendations for real estate attorney, home inspector and loan officers. You can choose who you want to work with.

Let us know what questions you have.

All data came from MRED LLC.

2021 real estate market update week 22. 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

2021 Real Estate Market Update Week 21

Posted on May 29, 2021May 29, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 21

2021 real estate market update week 21. New listings of single family homes are up. 291 this week compared to 267 the week before. We are heading in the right direction. The need is greater though.

Closed listings of single family homes are up. 385 this week compare to 299 the week before. It is the end of the month when you expect the numbers to be higher.

Take a look at the communities with the most activity this week:

Aurora-New 43 $130,000-$589,900

Closed-54 $80,000-$484,000

Batavia-New 8 $274,900-$425,000

Closed-14 $145,000-$799,000

Bolingbrook-New 18 $220,000-$525,000

Closed-23 $161,500-$497,000

Geneva-New 13 $229,000-$799,000

Closed-14 $200,000-$970,000

Montgomery-New 11 $157,000-$950,000

Closed-8 $212,000-$330,000

Naperville-New 52 $269,000-$1,500,000

Closed-80 $280,000-$1,095,000

Oswego-New 10 $269,000-$450,000

Closed-26 $245,000-$539,900

Plainfield-New 34 $219,000-$609,900

Closed-56 $180,000-$651.500

St Charles/Campton Hills-

New 16 $207,900-$749,999

Closed-24 $265,000-$700,000

Sycamore-New 12 $139,900-$479,900

Closed-8 $165,000-$745,000

West Chicago-New 11 $239,000-$550,000

Closed-14 $170,000-$656,000

Yorkville-New 4 $305,000-$349,900

Closed-10 $215,000-$724,900

Median list price of single family homes this week $355,000 last week $369,054

Median closed price of single family homes this week $355,000 last week $358,000

Contracts accepted this week

Contracts accepted on single family homes this week were up. 337 this week compared to 322 the week before. Now to get them past home inspection, attorney review and the appraisal comes back at the right price.

Look at the communities sellers accepted the most contracts this week:

Aurora-58 Bolingbrook-18

Geneva-17 Montgomery-12

Naperville-61 North Aurora-12

Plainfield-43 St Charles/Campton Hills-42

Sycamore-15 West Chicago-11

1 short sale was accepted this week by a seller. It was in Bolingbrook. Now it will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours, 12 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours, 2 with 48 hours and 1 with 24 hours.

2021 real estate market update by the month and a look back at 2020 and 2019

2021

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 1088 1228 1289

Totals 4191 4506 5738

2020

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

May 1352 1010 1444

Totals 5558 3598 5180

2019

January 878 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

May 1645 995 1280

Totals 6880 3572 5362

You can see 2021 has had the most closed with the least new listings. Buyers are ready, but sellers are not. This is why we are having multiple offer situations. It is a great time for sellers to sell! If you are waiting for the right time to sell the time is now.

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.

Request a home valuation to see what your home is worth in today’s market. I think you will be surprised. We provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

If you are thinking about buying a home this year you need to plan way in advance. Get in touch with a loan officer that will take the next step and get you pre approved subject to finding the home. You have to be ready to go in this market when you are up against so many other buyers submitting offers on the same home. You need to look like the best offer.

Resources:

This market is very competitive for buyers. You need to go look the day a home hits the market, and be ready to submit an offer right away. If you blink it will be gone.

Do you need recommendations for loan officers, real estate attorneys or home inspectors? We can recommend a few of each so you can choose who you want to work with.

Connect with us on Facebook, Linkedin and twitter. On Facebook you can click on the shop button to search for a home there.

All data came from our MLS MRED LLC.

2021 Real estate market update week 21. 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

2021 Real Estate Market Update Week 20

Posted on May 22, 2021May 22, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 20

2021 real estate market update week 20. New listings of single family homes are down. 267 this week compared to 294 the week before. This is making it even harder for buyers. Right now they are competing with multiple offer situations. This increases their competition.

Closed listings of single family homes are up. 299 this week compared to 266 the week before. We are getting closer to 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 34 $109,000-$739,900

Closed-37 $131,500-$593,000

Batavia-New 8 $346,000-$519,000

Closed-12 $146,000-$650,000

Bolingbrook-New 12 $209,900-$545,000

Closed-17 $185,000-$502,350

Geneva-New 14 $239,500-$749,000

Closed-13 $240,000-$907,000

Montgomery-New 10 $169,900-$329,000

Closed-7 $199,000-$325,000

Naperville-New 63 $324,900-$1,350,000

Closed-58 $300,000-$1,450,000

Oswego-New 7 $310,000-$500,000

Closed-20 $215,000-$500,000

Plainfield-New 31 $234,000-$758,400

Closed-36 $250,000-$610,000

St Charles/Campton Hills-

New 28 $189,900-$1,995,000

Closed-32 $180,000-$1,075,000

West Chicago-New 8 $250,000-$699,999

Closed-11 $190,000-$515,000

Yorkville-New 8 $257,500-$1,150,000

Closed-14 $205,000-$685,000

Median list price this week $369,054 compared to last week $375,000

Median closed price this week $358,000 compared to last week $360,000

Contracts accepted this week

Contracts accepted this week were up. 322 this week compared to 290 the week before. Right now it almost makes you feel like you won the lottery when you get your offer accepted with all the competition that is out there.

Look at the communities that sellers accepted the most contracts:

Aurora-59 Bolingbrook-23

Geneva-17 Montgomery-11

Naperville-52 Oswego-17

Plainfield-33 Plano-12

St Charles/ Campton Hills-20 Sycamore-10

West Chicago-14

1 short sale was accepted this week on a single family home. It was in Naperville. Now it will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 6 with a kick-out clause of 72 hours, 1 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours and also 1 with 48 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 797 843 952

Totals 3900 4121 5401

Closed is actual numbers. New and contracts accepted can not be relied on. Some new listings can be listed as new again. Contracts accepted, if they do not make it past the home inspection and attorney review, can go back on the market and get another contract.

So far March has been the best month this year for closed homes.

Check back with us every Saturday for the market update. Next week we will compare to 2020 and 2019. We do that at the end of every month so you can see how this year is going.

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.

This is the best time to sell if you are thinking about it anytime in the near future. Prices are increasing with the continued low inventory of homes for sale.

Request a home valuation to see what your home is worth in today’s market. I think you will be be very pleasantly surprised. Tell us about your home and what you have updated recently. We will provide you with a net proceeds that shows you the expenses to sell. It will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home this year? Plan way in advance. You are up against a lot of competition. You might need to put offers on a few homes before you get your offer accepted You need to work with a lender that will pre approve you subject to finding the home. It will take more than just a phone call. You will need to submit all your financial information so make sure you have all that together.

Resources:

We can make recommendations for loan officers, real estate attorneys and home inspectors that you can choose from if you don’t know someone already.

2021 real estate market update week 20. Have a great week!

Kristine Heiman-Designate Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

2021 Real Estate Market Update Week 19

Posted on May 15, 2021May 15, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 19

2021 real estate market update week 19. New listings of single family homes were up. 294 this week compared to 236 the week before. We want to see increases every week. It will take a lot more than this to satisfy the amount of buyers that are out there looking. Prices will continue to rise until enough housing in all price ranges comes on the market or gets built.

Closed listings of single family homes were down. 266 this week compared to 278 the week before. They will rise as we get closer to 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 37 $124,900-$679,900

Closed-38 $30,000-$640,000

Bolingbrook-New 15 $200,000-$425,000

Closed-19 $208,000-$502,350

Geneva-New 15 $299,900-$1,799,000

Closed-17 $267,900-$789.000

Montgomery-New 8 $185,000-$369,900

Closed-11 $218.000-$370,000

Naperville-New 57 $275,000-$6,990,000

Closed-52 $280,000-$1,350,000

Oswego-New 18 $229,000-$884,900

Closed-14 $197,000-540,000

Plainfield-New 37 $205,000-$1,076,400

Closed-31 $255,000-$610,000

St Charles/Campton Hills-

New 26 $249,900-$1,850,000

Closed-24 $207,000-$1,155,000

West Chicago-New 16 $189,900-$850,000

Closed-7 $255,000-$605,000

Winfield-New 10 $327,000-$899,900

Closed-5 $295,000-$735,000

Yorkville-New 2 $180,000-$615,000

Closed-11 $264,900-$500,000

Median list price this week is $375,000, and last week it was $350,000

Median Closed price this week is $360,000, and last week it is was also $360,000

Contracts accepted this week

Contracts of single family homes were down. 290 this wee compared to 340 the week before. This does not mean less buyers out there. Last week the new listings were also down so buyers had less to look at.

Look at the communities sellers accepted the most contracts:

Aurora-51 Batavia-10

Bolingbrook-19 Geneva-11

Naperville-50 Oswego-10

Plainfield-39 St Charles/Campton Hills-19

Yorkville-15

No short sales were accepted by sellers this week.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours, 7 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 48 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 530 544 630

Totals 3633 3822 5079

Closed column is the most important column. These are actual numbers. New and contracts accepted can be added more than once if a home gets listed more than once. Sometimes a contract will get accepted and it will not make it past the home inspection and attorney review so it get relisted and then gets another contract at a later time.

Check back with us every Saturday for the real estate market update. At the end of each month we will take a look back at 2020 and 2019 so you can see how we are doing this year.

Contact us

Call us at 630-503-655 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

It is a great time to be a seller! Prices are increasing because there is not enough homes on the market. National Association of REALTORS® has said we are at a 50 year low for housing. We need more of all types of housing. Request a home valuation and tell us a little bit about your home. Let us know what updates you have completed recently. We will provide you with a net proceeds so you can see the expenses to sell. This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year? Contact a loan officer with all your financial information and let them know to get you pre-approved. The market is moving so fast right now just getting prequalified is not enough. There is multiple offers on most homes and you want to show the seller that you are pre-approved.

Resources:

If you need recommendations for a loan officer, real estate attorney or a home inspector just let us know. We can recommend a few of each so you have a choice.

2021 real estate market update week 19. 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

2021 Real Estate Market Update Week 18

Posted on May 8, 2021May 8, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 18

2021 real estate market update week 18. New listings of single family homes were down this week. 236 this week compared to 273 the week before. We are not heading in the right direction. Prices will continue to rise until we get enough listings to satisfy the buyers that are out there looking.

Closed listings of single family homes are about the same this week. 278 this week compared to 280 the week before. That is pretty consistent, and it shows that buyers are still out there willing to write offers even with the increase in prices.

Take a look at the communities that have the most activity this week:

Aurora-New 37 $99,900-$899,900

Closed-36 $85,000-$534,500

Bolingbrook-New 19 $175,000-$469,000

Closed-17 $33,000-$415,000

Geneva-New 8 $225,000-$559,900

Closed-17 $242,000-$870,000

Montgomery-New 2 $205,000-$315,000

Closed-11 $207,000-$358,000

Naperville-New 48 $289,000-$3,600,000

Closed-58 $326,000-$2,250,000

Oswego-New 9 $185,000-$399,000

Closed-13 $155,000-$558,942

Plainfield-New 29 $249,900-$750,000

Closed-31 $203,000-$540,000

St Charles/ Campton Hills-

New-20 $250,000-$1,200,000

Closed-20 $191,900-$1,600,000

Sycamore-New 11 $149,900-$450,000

Closed-9 $253,000-$502,000

Median list price this week is $350,000. Last week it was $365,000

Median Closed price this week is $360,000. Last week it was $360,450.

Contracts accepted this week

Contracts accepted this week on single family homes were up. 340 this week compared to 328 the week before. It is a great time to sell!

Look at the communities sellers accepted the most contracts this week:

Aurora-49 Bolingbrook-15

Geneva-20 Montgomery-14

Naperville-54 Oswego-26

Plainfield-41 St Charles/Campton Hills-25

Sycamore-14 West Chicago-11

Yorkville-16

1 short sale was accepted by a seller on a single family home. It was in Sycamore. Now it will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 10 with 48 hours and 4 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling, and closing on their current home. 1 with a kick-out clause of 72 hours, 3 with 48 hours and 1 with 24 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

May 236 278 340

Totals 3339 3556 4789

The closed column is the most important one. This is actual numbers. The new and contracts accepted could be counted more than once if a home is relisted as new, or has a contract accepted, and then it does not make it through the home inspection and attorney review period. It could get relisted again, and then another contract accepted.

Check back with us every Saturday for the real estate market update. At the end of each month we will take a look back at 2020 and 2019 so you an compare to see how this year is going.

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.

It is a great time sell! Prices are increasing. Request a home valuation and give us some information about your home, and what has been recently updated. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in, and we know all the terms so you can make a good decision.

Are you thinking about buying this year? You need to talk to a loan officer and submit all your financial information so they can get you pre-approved. You need to take this extra step and get pre-approved with the market right now. Homes are selling very fast with multiple offers. You need to be ready to go look as soon as a home hits the market, or it will be gone. The loan officer will give you a letter showing what you qualify for, and what type of loan. This will go with an offer when you find a home.

Resources:

One of the IDHA programs might help payoff student debt, and another one if you stay there at least 5 years you might not have to pay it back. It is worth your time to check them out.

Do you need recommendations for loan officers, real estate attorneys or home inspectors? We can provide a few of each so you can decide who you want to work with.

All data information used is from our multiple listing service MRED, LLC.

2021 real estate market update week 18. 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

2021 Real Estate Market Update Week 17

Posted on May 1, 2021May 1, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 17

2021 real estate market update week 17. Seller’s market continues! New listings of single family homes were up this week. 273 this week compared to 232 the week before. Great but we need to really increase these number of new listings or prices will continue to rise.

Closed listings of single family homes was also up this week. 280 this week compared to 232 the week before. It is the last week of the month when most buyers want to close so this was to be expected.

Take a look at the communities with the most activity this week:

Aurora-New 42 $155,500-$629,000

Closed-39 $140,000-$540,000

Batavia-New 13 $259,900-$997,500

Closed-8 $242,500-$884,536

Bolingbrook-New 11 $180,000-$699,000

Closed-11 $204,000-$370,100

Geneva-New 19 $249,00-$949,000

Closed-18 $220,500-$1,000,000

Montgomery-New 11 $190,000-$399,900

Closed-3 $179,900-$220,000

Naperville-New 53 $219,900-$1,999,995

Closed-55 $287,000-$1,385,000

Oswego-New 10 $264,000-$850,000

Closed-18 $135,000-$530,000

Plainfield-New 29 $229,900-$699,900

Closed-37 $170,000-$509,770

St Charles/Campton Hills-

New-26 $195,000-$1,550,000

Closed-20 $230,000-$1,160,500

West Chicago-New $12 $135,900-$599,000

Closed-8 $180,000-$441,251

Yorkvillle-New 11 $244,900-$430,000

Closed-7 $187,000-$526,645

Median list price this week $365,000 compared to last week $350,000. Median closed price this week $360,450 compared to last week $352,000.

Contracts accepted this week

Contracts accepted this week were up. 388 this week compared to 344 the week before.

Look at the communities seller’s accepted the most contracts:

Aurora-48 Batavia-13

Bolingbrook-19 Geneva-12

Naperville-65 Oswego-13

Plainfield-53 St Charles/ Campton Hills-27

Sycamore-12 West Chicago-11

1 short sale was accepted this week by a seller. It was in Winfield. 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. 7 with a kick-out clause of 72 hours, 4 with 48 hours and 3 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 48 hours and 1 with 24 hours.

2021 real estate market update by the month and also a look back at 2020 and 2019

2021

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 1006 926 1387

Totals 3103 3278 4449

2020

January 1105 566 858

February 1267 529 1024

March 1186 707 1079

April 648 786 775

Totals 4206 2588 3736

2019

January 858 407 568

February 1032 463 832

March 1731 915 1375

April 1594 792 1307

Totals 5215 2577 4082

The closed column is the most important one to look at. These are actual numbers. More single family homes have closed this year than the previous 2 years. You can see more closed than new listings until April.

New listings can sometimes go back up as a new listing in normal times. Right now they are selling before that happens.

Contracts accepted can sometimes be counted more than once. Sometimes they do not make it past the home inspection and attorney review, and go back on the market and then counted again once they get another contract accepted. Right now some homes are having a problem with the appraised price. It is coming in lower than the contract price. If they can’t negotiate to solve this issue the home will go back on the market.

It is definitely a seller’s market still, and will continue to be until more homes come on the market or the buyers start slowing down that are looking.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

Thinking about selling this year? Request a home valuation, and give us some information about your home. What have you updated lately? New roof, painting, appliances or any other updates. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in.

If you are thinking about buying, you need to be ready with a pre-approval letter from your loan officer. Right now things are selling as fast as they go on the market. You need to go look the day it is listed and ready to write an offer right away, or you will lose out. We can schedule a zoom meeting to go over the process and get you familiar with the contract so you can be ready to go.

Resources:

It might be worth your time to look over these resources. You can also ask your loan officer if they are offering any programs. One of the IDHA programs might help payoff student debt and the other one if you live there for 5 years or more you might not have to pay back.

We can make recommendations of loan officers, real estate attorney and home inspectors. Just let us know.

All the information is provided by the multiple listing service MRED LLC..

2021 real estate market update week 17. 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

2021 Real Estate Market Update Week 16

Posted on April 24, 2021April 24, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 16

2021 real estate market update week 16. New listings of single family homes were down this week. 232 this week compared to 241 the week before. We are having an extreme housing shortage so any decrease is very sad. I don’t know what else to say. Too many buyers are still looking for a home.

Closed listings of single family homes was exactly the same as new listings and up from last week. 232 this week compared to 222 the week before. Next week is the last week of the month so it should increase even more next week.

Take a look at the communities with the most activity this week:

Aurora-New 32 $85,000-$669,000

Closed-43 $143,000-$710,000

Bolingbrook-New 10 $260,000-$629,910

Closed-11 $219,900-$360,000

Geneva-New 9 $229,900-$725,000

Closed-13 $285,000-$698,938

Naperville-New 47 $319,000-$1,450,000

Closed-41 $162,000-$1,375,000

Oswego-New 9 $235,000-$505,000

Closed-10 $235,000-$400,000

Plainfield-New 37 $220,000-$1,700,000

Closed-25 $206,000-$1,105,000

St Charles/Campton Hills-

New-23 $229,000-$849,900

Closed-16 $239,000-$1,050,000

Yorkville-New 8 $238,000-$655,000

Closed-17 $260,000-$480,000

Median list price this week was $350,000 and median closed price was $352,000. Last weeks median price was $370,000 and last weeks median closed price was $354,000. So median prices were down this week.

Contracts accepted this week

Contracts accepted on single family homes was down this week. 344 this week compared to 359 the week before. Last week new listings were down so that contributed to less contracts accepted this week.

Look at the communities seller’s accepted the most contracts:

Aurora-50 Batavia-13

Bolingbrook-20 Geneva-14

Montgomery-11 Naperville-79

Oswego-26 Plainfield-47

St Charles/Campton Hills-32 West Chicago-10

Yorkville-12

1 short sale was accepted by a seller this week on a single family home. It was in Aurora. Now it will get 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. 3 with a kick-out clause of 72 hours, 6 with 48 hours and 2 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 48 hours and 1 with 24 hours.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 501 414 655

Totals 2598 2766 3717

The closed column is the most important column to keep track of. These are actual numbers. New and contracts accepted can sometimes be counted more than once if they were relisted as new or if a contract accepted does not make it past the home inspection, attorney review or appraisal. They can go back on the market and get counted again.

Some of the closed were homes that carried over into the new year.

Check back with us every Saturday for the 2021 real estate market update. Next Saturday is the last week of the month and we will be comparing to 2020 and 2019 so you can see how things are going.

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.

Will you be selling this year? Request a home valuation and give us some detalls about your home and let us know about any updates that you have completed recently. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Thinking about buying a home this year? You need to be ready to go with a pre-approval letter from your loan officer showing what you qualify for a what loan type. This will go with an offer when you find a home. The market is moving very fast right now so the letter can not be older than 30 days or get it updated. You do not want to wait until you find a home or you could miss out on a home. When a home hits the market you have to be ready to go because so many of them are getting multiple offers on them right away.

Resources:

1 of the IDHA programs might help out with student debt and another one if you live there 5 years might be forgiven. It is worth taking a look at them.

If you need recommendations for loan officers, home inspectors, real estate attorneys let us know. We can recommend a few of each so you can decide who you want to work with.

2021 real estate market update week 16. 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

2021 Real Estate Market Update Week 15

Posted on April 17, 2021April 17, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 15

2021 real estate market update week 15. New listings of single family homes were down this week. 241 this week compared to 260 the week before. It is April we should be increasing every week.

Closed listings of single family homes were up this week. 222 this week compared to 192 the week before. As we head to the end of the month they should increase. Most buyers want to close at the end of the month so they can bring less money to closing.

Take a look at the communities with the most activity this week:

Aurora-New 40 $139,900-$750,000

Closed-26 $120,000-$570,000

Batavia-New 10 $210,000-$739,900

Closed-10 $285,000-$421,000

Bolingbrook-New 11 $190,000-$469,000

Closed-15 $227,000-$410,000

Geneva-New 12 $299,900-$1,599,000

Closed-9 $325,000-$625,000

Naperville-New 55 $269,900-$2,250,000

Closed-42 $295,000-$1,375,000

Oswego-New 11 $245,000-$1,000,000

Closed-13 $231,000-$440,000

Plainfield-New 27 $239,900-$749,900

Closed-21 $242,500-$352,400

St Charles/Campton Hills-

New 24 $179,900-$850,000

Closed-16 $278,000-$965,000

West Chicago-New 7 $245,000-$484,900

Closed-12 $120,000-$645,000

Average median listing price this week is $370,000. Average selling price is $345,500

Contracts accepted this week

Contracts accepted on single family homes are up. 359 this week compared to 296 the week before. We need to really increase inventory of homes to start to satisfy the demand from buyers that are looking. We continue to see multiple offers. Prices are increasing because of it.

Look at the communities seller’s accepted the most contracts:

Aurora-50 Batavia-13

Bolingbrook-20 Geneva-14

Montgomery-11 Naperville-79

Oswego-26 Plainfield-47

St Charles/Campton Hills-32 West Chicago-10

Yorkville-12

1 short sales was accepted by a seller this week. It was in Naperville. Now it will be submitted to the lender to see if they will also accept it.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 6 with 48 hours and 2 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 48 hours and 1 with 24 hours.

You can see that, at this time, you better have a contract on your home if you want to have a chance on submitting an offer. Multiple offers is the norm now.

2021 real estate market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 993 1099 1455

April 501 414 655

Totals 2598 2766 3717

March was a good month. I don’t know if we will hit close to the closed numbers this month. Closed is the the main column to keep an eye on. These are actual numbers. New and contracts accepted can sometimes be counted more than once if a home is relisted or if a contract fall apart and then gets another one accepted.

Check back with us every Saturday for the update. At the end of each month we will take a look back at 2020 and 2019 so you can see the comparison.

Contact us

Call us at 630-503-6555 with all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.

It is a great time to be a seller! Prices are increasing. Request a home valuation and give a little information about your home and what updates you have completed. We will provide you with a net proceeds that shows you the expenses to sell. When an offer comes in we will update this when we know all the terms so you can make a good decision.

Thinking about buying a home? You have to be ready to go with a letter from a lender showing how much home you can afford and what type of loan. This will go with an offer when we find you a home. You also have to be ready to go when a listing hits the market. You will be up against multiple offers. This is not the market for you to go home and think about it.

Resources:

One of the IDHA programs might help with student debt and another one if you live there for 5 years it might be forgiven. It is worth your time to check it out.

If you need recommendations for a loan officer, real estate attorney and home inspector we would be happy to provide you with a few that we have successfully worked with and you can choose who you want to work with.

It is an exciting time to sell and buy a home, but it can be stressful. We will do everything we can to explain as we go through the process so you know what to expect.

2021 real estate market update week 15. 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

2021 Market Update Week 11

Posted on March 20, 2021March 20, 2021 by Kristine Heiman, Designated Managing Broker

2021 Market Update Week 11

2021 market update week 11. New listings on single family homes were down this week. 171 this week compared to 218 the week before. We are going in the wrong direction. Today is the first day of Spring. We should be listing more not less homes. Seller’s where are you? Contact me as soon as possible.

Closed listings of single family homes were up this week. 226 this week compared to 177 the week before. We are heading towards the end of the month when most buyers want to close. They should increase next week as well.

Take a look at the communities with the most activity this week:

Aurora-New 16 $99,900-$699,000

Closed-21 $140,000-$544,000

Bolingbrook-New 12 $229,700-$410,000

Closed-12 $217,000-$438,820

Geneva-New 7 $239,900-$574,900

Closed-12 $259,000-$605,000

Naperville-New 53 $269,900-$3,000,000

Closed-51 $287,500-$1,304,000

Oswego-New 5 $269,900-$509,900

Closed-15 $220,000-$505,000

Plainfield-New 24 $183,000-$629,000

Closed-27 $195,000-$584,652

St Charles/Campton Hills-

New 14 $199,900-$1,450,000

Closed-17 $212,100-$1,200,000

Yorkville-New 6 $240,000-$425,000

Closed-10 $240,000-$414,000

You should be able to click on the photo above to see the other communities and price ranges. You might need to look at these other communities that are not your first choice to find a home. They are going fast though everywhere.

Contracts accepted this week

Contracts accepted on single family homes were up this week. 304 accepted this week compared to 289 the week before. Buyers are fighting over the listings that are available. Multiple offers are here to stay until more homes come on the market.

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

Aurora-44 Bolingbrook-20

Geneva-18 Montgomery-13

Naperville-57 Oswego-12

Plainfield-47 St Charles/Campton Hills-22

Yorkville-17

2 short sales were accepted by seller’s this week. 1 each in North Aurora and Sycamore. Now they will be submitted to the lender to see if they will also accept.

Seller’s accepted contracts this week that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours, 6 with 48 hours and 4 with 24 hours.

Also, a seller accepted a contract that is contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours.

I really thought it would happen sooner that seller’s would not accept contracts that buyer’s still had to sell their home and close. With all the competition out there and multiple offers seller’s are looking for the offer that has as few hurdles as possible to get past.

2021 market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 579 616 853

Totals 1683 1869 2460

Check back with us every Saturday for the market update. At the end of the month I will compare to 2020 and 2019 so you will have something to compare to so you can see how the market is going.

March is not even over yet and all the totals look like they will be higher than the previous 2 months. We need to at least double the new listings though.

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.

Request a home valuation if you are thinking about selling. Give us a little information about any updates you have recently completed. We will let you know what your home is worth in today’s market. Provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Thinking about buying a home? Contact a loan officer with all your financial information to get prequalified. You need to have everything in place and ready to go just in case you find a home. Multiple offers are the norm right now so you might not want to look at the top of your price range unless you have more cash to put down. So many homes are getting offers above the listed price because of low inventory of homes for sale.

Resources:

Let us know if there is other information that you are looking for. I would be happy to point you in the right direction. If you need recommendations for loan officers, home inspectors or real estate attorneys. We can give you a few of each to contact to see which one you would prefer to work with.

2021 market update week 11. 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

2021 Market Update Week 10

Posted on March 13, 2021March 13, 2021 by Kristine Heiman, Designated Managing Broker

2021 Market Update Week 10

2021 market update week 10. New listings of single family homes are up again. 218 this week compared to 190 the week before. This is helping but we need to double this and also have a wider range of prices.

Closing listings of single family homes are down. 177 this week compared to 213 the week before. They will increase as we head to 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 26 $160,000-$886,400

Closed-30 $55,700-$600,000

Bolingbrook-New 16 $199,900-$469,000

Closed-11 $212,000-$529,900

Geneva-New 9 $269,900-$670,000

Closed-12 $240,000-$755,689

Naperville-New 56 $300,000-$4,700,000

Closed-33 $270,000-$1,843,000

Plainfield-New 29 $210,000-$565,000

Closed-15 $236,000-$650,000

St Charles/Campton Hills-

New 17 $239,000-$795,000

Closed-12 $175,000-$1,300,000

Yorkville-New 14 $189,900-$629,495

Closed-12 $140,000-$445,000

The median list price this week is $365,000 and the median sales price is $330,000.

Contracts accepted this week

Contracts accepted this week are up. 289 this week compared to 260 the week before. With 218 new listings this week that is not replacing how many went off the market this week. We are still in a seller’s market. Now is the time to sell!

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

Aurora-33 Bolingbrook-12

Geneva-17 Naperville-69

Oswego-16 Plainfield-34

St Charles/Campton Hills-21 West Chicago-13

Yorkville-12

No short sales accepted by seller’s this week. That does not mean that there are none available. That is 2 weeks in a row.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 9 with 48 hours and 1 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 48 hours.

2021 market update by the month

Month New Closed Contracts accepted

January 543 649 829

February 561 604 778

March 408 390 549

Totals 1512 1643 2156

Check back with us every Saturday for the update. At the end of each month we will also compare to 2020 and 2019 so you can get an idea on how this year is going compared to the 2 previous 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.

It is a great time to sell. There is not enough homes on the market for the amount of buyers out there looking. Prices are rising. Request a home valuation so we can show you what your home is worth in today’s market. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year? You might want to buy your first home or maybe a home with a little more room. Get 2 years of tax returns, all your income and debt together and contact a loan officer to get prequalified. They will provide you with a letter showing what type of loan and what price works out for you. When you find a home we will send this with an offer to show the seller’s you do qualify for their home. If you wait to find a home it will be too late. Homes are selling fast right now. You need to be ready. If it is older than 30 days you will need to get it updated.

Resources to check out:

It might be worth your time to check the different programs. There is 2 new IDHA programs that one might help out with student debt and the other one if you live there for at least 5 years you might not have to pay it back.

We have many brochures we can email you on Radon, Lead-based paint, understanding the costs and information about special service areas.

2021 Market Update Week 10. 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