11 2 2019-Market Update Fox Valley
11 2 2019-Market update Fox Valley. New listings of single family homes were very consistent this week. 218 this week compared to 216 the week before. How about that for consistency! things are still happening so don’t be afraid to put your home on the market.
Closed listings of single family homes were way up. 219 this week compared to 171 the week before. End of the month is always a busy time for closings. That is when most buyers want to close.
Take a look at the communities with the most activity this week:
Aurora-New 28 $75,000-$479,900
Bolingbrook-New 14 $130,000-$400,000
Geneva-New 10 $324,900-$749,900
Montgomery-New 8 $176,900-$319,660
Naperville-New 30 $314,900-$1,299,000
Oswego-New 18 $200,000-$549,500
Plainfield-New 34 $233,000-$700,000
St Charles/Campton Hills-
West Chicago-New 2 $224,900-$359,108
Yorkville-New 11 $149,900-$374,900
Contracts accepted this week
Contracts accepted this week were down slightly. 183 this week compared to 196 the week before. We did get some early winter weather this week and Thursday was Halloween.
Here are the communities that sellers accepted the most contracts this week:
Aurora-35 Bolingbrook-15 Naperville-20
Plainfield-21 St Charles/Campton Hills-14
3 Shorts sales were accepted this week by sellers. 1 each in Aurora, Bolingbrook and West Chicago. Now they 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. 7 with a kick-out clause of 72 hours and 10 with 48 hours.
Contracts were also accepted by sellers that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours and 4 with 48 hours.
Keeping tract of contracts accepted is important to keep a eye on how many buyers are still out there willing to write an offer and to also decide if you need to adjust pricing.
2019 look at activity by the month
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 1,259 957 959
Total 14,313 9,375 11,134
Not all contracts accepted end up closing. Some of those have gone back on the market and then another contract was accepted. This is the critical time that it is very important to have a good REALTOR® and real estate attorney that will guide the buyer through expectations of a home inspection and negotiate repairs and attorney review.
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 goals.
Let us update the current value of your home in today’s market. We will provide you with a net proceeds showing an estimate of expenses to sell. This will be updated when an offer comes in and we know all the terms.
If you are looking to buy a home you will need to talk to a loan officer first and get pre-qualified to make sure what type of loan and what price range works out best for you.
Take a look at some great resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some communities
- School ratings
11 2 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
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