12 14 19 Market Update Fox Valley
12 14 19 market update Fox Valley. New listings were significantly down this week. 136 new listings of single family homes compared to 173 the week before. Buyers looking to get an offer excepted before the holiday have limited new listing choices this week.
Closed listings of single family homes were significantly up this week. 182 this week compared to 142 the week before. We are getting closer to the end of the month so this is to be expected. Both buyer and seller can get in and get settled before the holiday.
Take a look at the communities with the most activity this week:
Aurora-New 19 $114,900-$515,000
Bolingbrook-New 9 $220,000-$499,900
Geneva-New 5 $324,900-$632,000
Naperville-New 35 $254,900-$3,990,000
Plainfield-New 13 $190.000-$398,735
St Charles/Campton Hills-
West Chicago-New 10 $189,000-$465,000
Do you see the price range that you are looking in on this list or in the picture above? Some buyers are waiting a long time for homes to come on the market that are below the $200,000 price. If you are looking above that price you have more to choose from.
Contracts accepted this week
Contracts accepted this week on single family homes was way up this week. 155 this week compared to 127 the week before. I think it is important to keep track of when contracts are getting accepted. It gives you an idea of how the market is doing. Buyers are still out there trying to find a home and ready to act when they find it. Price, location and condition is still when all of these are in line a home will sell.
Look at the communities that sellers accepted the most contracts this week:
9 short sales were accepted by sellers this week. 2 in Plainfield and 1 each in Aurora, Montgomery, Naperville, Oswego, St Charles/Campton Hills, West Chicago and Yorkville. Now they will be submitted to the lender to see if they will also accept.
Sellers excepted contracts that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours, 2 with 48 hours and 1 with 24 hours.
Contingent contracts were also accepted by sellers that the buyer still needs to sell and close on their current home. 2 with a kick-out clause of 72 hours, 1 with 48 hours and also 1 with 24 hours.
2019 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
November 679 727 656
December 309 524 282
Total 15,301 10,426 12,072
New listings sometimes get canceled and relisted so the days on market are lower. Not all contracts that get accepted close. Sometimes issues come up that can’t get resolved the way buyers and sellers can agree too. That does not necessarily mean there is a big problem with the home. This is where you need a good REALTOR® and real estate attorney to negotiate the issues that come up.
You can see that activity happens throughout the year. Some months are busier than others. If you are thinking about selling you can decide if you want sell when there is the most listings available or when there is not as much competition.
Call us at 630-503-6555. Your goal is our goal. We will do everything we can to reach your goals. Do you have real estate questions?
Let us update the current value of your home in today’s market. We will provide you with a net proceeds that gives you an estimate of the expenses to sell so you can decide if now is a good time for you. This will be updated when an offer comes in and we know all the terms.
Thinking about buying a home? Your first step is to get pre-qualified with a loan officer to see what type of loan and what price range will work out best for you. We can make some recommendations just ask.
Check out some great 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
Whether you have kids in school it is still good to buy a home in a good school district. When you go to sell you will be happy you did.
12 14 19 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
630-503-6555 ext 101
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