10 19 2019 Market Update Fox Valley

10 19 2019 Market Update Fox Valley

10 19 2019 Market update Fox Valley.  We are having gorgeous weather right now here in Illinois.  Fox Valley market is still moving along. New listings of single family homes this week were down slightly.  259 this week compared to 275 the week before.

Closed listings of single family homes were consistent this week.  167 this week compared to 165 the week before.  Numbers should go up as we get closer to the end of the month.

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

Aurora-New 29 $69,000-$649,000

            Closed-23 $97,500-$420,000

Batavia-New 14 $228,500-899,900

             Closed-9 $135,200-$533,801

Bolingbrook-New 18 $139,900-$399,900

                     Closed-12 $140,000-$375,000

Geneva-New 16 $275,000-$848,900

             Closed-6 $212,000-$514,900

Montgomery-New 10 $155,000-$299,900

                     Closed-5 $165,000-$248,000

Naperville-New 33 $264,900-$2,250,000

                 Closed-23 $211,000-$1,265,000

Oswego-New 16 $122,000-$675,000

              Closed-7 $189,000-$468,000

Plainfield-New 35 $167,000-$925,000

               Closed-30 $170,000-$530,834

St Charles/Campton Hills-

               New-18 $214,900-$650,000

              Closed-10 $140,000-$425,000

Yorkville-New 12 $219,900-$495,000

              Closed-6 $160,000-$339,000

You should be able to click on the picture above to make it bigger so you can see how the other communities did and the price ranges.  Some communities are on this list every week.  They are more active.  This makes a difference when you are looking for a home.  You always have to think about resale.

Contracts accepted this week

10 19 2019-Market Update Fox Valley-Contracts accepted this week

Contracts accepted this week were very consistent. 193 this week compared to 192 the week before.  Buyers are still out there looking.  If you price your home according to location and condition it should sell.  If not you will need to lower price or start fixing it up.  Not everyone looking wants to take on projects.

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

Aurora-24            Bolingbrook-13

Naperville-37       Plainfield-28       

St Charles/Campton Hills-15

Short sales accepted by sellers this week were still low.  5 this week.  1 each in Batavia, Bristol, Naperville, St Charles/Campton Hills and Sugar Grove. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts this week that are contingent on the buyer closing on their current home.  6 with a kick-out clause of 72 hours and 12 with 48 hours.

Contracts were also accepted by sellers that are contingent on the buyer selling and closing on their current home.  7 with a kick-out clause of 48 hours.

2019 by the month

I think it is interesting to see the totals by the month for New listings of single family homes, closed and contracts accepted so you can see how they change.

2019 by the month:

                        New         Closed         Contracts accepted

January               878         407              608

February          1,032         465              832

March             1,731         915           1,375

April               1,594         790           1,307

May                2,004      1,391           1,665

June               1,643       1,253          1,218

July                1,423       1,029          1,090

August           1,585       1,403           1,211

September     1,164          765              869

October            825          567              580

Totals          13,879       8,985         10,755

Not all homes that come on the market sell.  Some of them cancel the listing or they either need to adjust price or make some updates.  Paint does wonders!

Contracts accepted does not mean they will close.  The majority of them do but some of them might run into issues with the home inspection that they can not come to an agreement.  Sometimes when they do a more in-depth credit check things show up that can’t be resolved in time. 

Having an experienced REALTOR® and good real estate attorney makes all the difference in getting through issues that come up.

Contact us

Call us at 630-503-6555 with all your real estate questions.  Our goal is your goal.  We will do everything we can to help you reach your goal whether buying or selling a home.

Check our some resources:

Also check with your loan officer to see if they offer any help.  Sometimes they can combine help or offer better help with closing costs.

10 19 2019 market update Fox Valley.  Have a great week!

Kristine Heiman, Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

besthomesfv@gmail.com

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