12 14 19 Market Update Fox Valley

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

            Closed-29 $60,000-$459,000

Bolingbrook-New 9 $220,000-$499,900

                    Closed-17 $147,500-$375,000

Geneva-New 5 $324,900-$632,000

            Closed-10 $326,000-$610,000

Naperville-New 35 $254,900-$3,990,000

                 Closed-28 $275,000-$1,400,000

Plainfield-New 13 $190.000-$398,735

               Closed-29 $176,400-$500,000

St Charles/Campton Hills-

              New-10 $200,000-$780,000

             Closed-9 $193,000-$750,000

West Chicago-New 10 $189,000-$465,000

                      Closed-2 $220,000-$335,000

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

12 14 19 Market Update Fox Valley-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:

Aurora-27                   Bolingbrook-17

Napervillle-26             Plainfield-19

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. 

Contact us

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:

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

besthomesfv@gmail.com

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