10 05 2019-Market Update
10 05 2019-Market update. New listings of single family homes here in the Fox Valley went up this week. 291 this week compared to 259 the week before. Great news for buyers that have not found the right home yet or have lost out to multiple offers.
Closed listings of single family homes were also up this week. 235 this week compared to 204 the week before. Some of those might of been on Monday the last day of September.
Take a look at the communities with the most activity this week:
Aurora-New 43 $93,600-$559,000
Batavia-New 10 $182,500-$525,000
Bolingbrook-New 14 $149,900-$359,000
Geneva-New 11 $325,000-$500,000
Montgomery-New 15 $134,900-$317,900
Naperville-New 65 $249,900-$1,999,999
Oswego-New 14 $206,800-$799,000
Plainfield-New 36 $210,000-$550,000
St Charles/Campton Hills-New 23 $199,900-$2,195,000
10 05 2019-Market Update Contracts accepted this week
Contracts accepted this week on single family homes were slightly down this week. Not too bad. Only down by 9 listings.
Look at the communities that sellers accepted the most contracts:
Aurora-19 Bolingbrook-21 Geneva-11
Naperville-30 Plainfield-10 St Charles/Campton Hills-19
There were no short sales contracts accepted this week. The week before there were 3. Great news!
Contracts were accepted this week that are contingent on the buyer closing on their current home. 9 with a kick-out clause of 72 hours, 9 with 48 hours and 1 with 24 hours.
Sellers also accepted contracts that are contingent on the buyer selling and closing on their current home. 6 with a kick-out clause of 72 hours and also 6 with 48 hours.
Market activity so far for 2019 in the Fox Valley by the month
New listings Closed listings Contracts accepted
January-878 January-407 January-608
February-1,032 February-465 February-832
March-1,731 March-915 March-1,375
April-1,594 April-790 April-1,307
May-2,004 May-1,391 May-1,665
June-1,643 June-1,253 June-1,218
July-1,423 July-1.029 July-1,090
August-1.585 August-1,403 August-1,211
September-1,164 September-765 September-869
October so far-291 October so far-235 October so far-195
Total-13,345 8,653 10,370
I changed it up this week so you could see the difference side-by-side. Some of those new listings have not sold or canceled and decided not to sell.
Not every listing that receives a contract closes. There are many reasons why they do not close. There could be an issue with the buyer that does not get approved for the loan for some reason. Home inspection or attorney review had issues that they could not agree on resolving. Buyer or seller change their mind about going through with the deal. All very good reasons why you need a good REALTOR® and good real estate Attorney to get you through all the issues that can come up.
It makes sense that May was the biggest month for new listings and contracts accepted and it also makes sense that August was the biggest month for closings. Everything still revolves around the school year. There is still activity though.
Call us at 630-503-6555 with all of your real estate questions. Our goal is your goal. We will do everything we can to meet your goal. If it is not reasonable we will let you know.
Let us update the value of your home in today’s market. We will provide you with an estimate of expenses to sell your home so you will know where you are at.
If you want to buy a home your first step is to talk to a loan officer to see if you need to work on your credit score to get ready to buy or what price range and loan type will work for you.
Check out some resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois home owner assistance and some communities
- School ratings
Let us know how we can help you.
10 05 2019-market update. Have a great week!
Kristine Heiman, Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
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