Market Update Fox Valley-November 17 2018
Market update Fox Valley-November 17 2018. New listings this week were consistent with last week. 199 this week compared to 221 last week. No this is not Spring market but we are staying consistent so that is good! It is a good time to sell without all the competition. The most important thing is to be priced right for condition and location.
Closed homes this week were up. 204 closed this week compared to 151 last week. We are getting closer to the end of the month and also a holiday so that is to be expected.
Take a look at the communities with the most activity this week:
Aurora-New 27 $119,900-$520,000 Closed-21 $122,000-$423,000
Bolingbrook-New 14 $150,000-$379,900 Closed-16 $210,000-$430,000
Geneva-New 8 $338,500-$575,000 Closed-10 $260,000-$626,000
Naperville-New 40 $224,900-$999,500 Closed-34 $207,500-$761,117
North Aurora-New 12 $160,000-$635,000 Closed-9 $186,000-$410,000
Plainfield-New 27 $145,000-$639,900 Closed-29 $190,000-$511,000
St Charles/Campton Hills-New 18 $199,900-$775,900 Closed-15 $195,000-$965,000
Contracts Accepted this Week
Contracts accepted by Sellers this week were slightly down. 171 this week compared to 188 last week. The market has slowed down but it really has been pretty consistent since the beginning of September. Some weeks are slightly higher some lower but within the same range.
Take a look at the communities that Sellers have accepted the most contracts this week:
Aurora-27 Bolingbrook-15 Naperville-21
Plainfield-17 St Charles/Campton Hills-21
Short sales accepted this week were the same as last week. 6 both weeks just different communities. 1 was accepted in Aurora, Montgomery, Oswego, St Charles/Campton Hills and 2 in Yorkville. Now they will be submitted to the lender to see if they will also accept as written.
If a contract is cash there is usually contingencies of home inspection and attorney review. Other contracts are also contingent on the Buyer obtaining financing. Some Buyers have a home already. They have to add a contingency on their home closing before purchasing if they have already accepted an contract on their current home. This week 5 added a kick-out clause of 48 hours and 1 with 24 hours. Other Buyers have not sold their current home yet so they had to add a contingency of selling and closing on their current home. 3 this week with a kick-out clause of 72 hours and 5 with 48 hours.
We know this can all be confusing especially if it is your first time or it has been a while since the last time you bought or sold a home.
Give us a call at 630-503-6555 Jeffery Szymczak-Broker ext 104, Bobby Burson-Broker ext 105 or Kristine Heiman-Managing Broker ext 101. We will be happy to go over everything with you. Our goal is to negotiate price and terms that are best whether you are buying or selling a home.,
Request an updated market analysis so you know what your home is worth in the current market. You will be provided a net proceeds that shows an estimate of expenses to sell your home. This will be updated when an offer comes in and we know all the terms so you can make a decision to accept, reject or counter.
We can recommend a few real estate attorneys, loan officers and home inspectors that we have worked with so you can decide who is best for you to work with.
- loans and process
- VA loans and requirements
- Current interest rates(your credit score will determine what interest rate you are offered)
- down payment assistance
- Illinois and other communities that offer down payment or closing cost assistance
Market Update Fox Valley-November 17 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