12 21 19 Market update Fox Valley
12 21 19 market update Fox Valley. New listings of single family homes was just slightly lower this week. 129 this week compared to 136 the week before. We are only days away from the holiday so hopefully they will pick up in the next couple of weeks. Buyers are still out there looking. Start the New Year out getting your home on the market.
Closed listings of single family homes was up by 26 homes. 208 homes closed this week compared to 182 the week before. We are getting close to the end of the month when most buyers want to close. These closings were people that wanted to move in their new home before Christmas. What a great present!
Take a look at the communities with the most activity this week:
Aurora-New 19 $50,000-$500,000
Bolingbrook-New 11 $149,900-$415,000
Geneva-New 15 $335,000-$1,200,000
Naperville-New 20 $224,900-$1,200,000
Oswego-New 10 $185,000-$1,199,000
Plainfield-New 18 $215,000-$449,000
St Charles/Campton Hills-
New 5 $209,900-$1,095,000
Contracts accepted this week
Contracts accepted on single family homes was significantly down this week. 117 this week compared to 155 the week before. Inventory of homes for sale is way down right now and we are so close to the holiday. Weather definitely is not factor. It is cold but no snow or ice to worry about and the temperatures are rising into this next week.
Communities with the most contracts accepted this week:
These communities are consistently very active every week.
Only 3 homes received contracts on short sales this week. 1 each in Aurora, Bolingbrook and Yorkville. Now they will be submitted to the lender to see if they will also accept. These take a special buyer that can wait.
Sellers accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours, 3 with 48 hours and 1 with 24 hours.
Contracts were also accepted by sellers that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours and 3 with 48 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 438 532 399
Total 15,430 10,634 12,189
Closed are the most important numbers.
Some of the New listings get canceled and relisted so the number of days on market are lower. This number does not reflect actual new listings. They might be counted more than once so don’t think that many listings have come on the market and have not sold.
Not all contracts that get accepted close. Some of them might not make it through attorney review or the home inspection. This is when it is very important to have a good REALTOR® and real estate attorney that will negotiate issues. Some issues turn up that are not able to be resolved in a timely manner but other times it is the buyer not understanding the process and thinking anything that shows up on the home inspection should be fixed. A lot of times those are items the home inspector is wanting them to pay attention to that are routine maintenance. These numbers might have been counted more than once on the same home. They might of accepted an offer and it was canceled then back on the market and contract accepted again.
It is interesting to see the numbers. Activity happens year round.
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 meet your goals.
Thinking about selling? Let us update the value of your home in today’s market. We will provide you with a net proceeds that shows you an estimate of expenses so you can see where you are at. This will be updated when an offer comes in and we know all the terms so you can make a good decision.
If you are thinking about buying a home your first step is to call a loan officer to get pre-qualified so you know the type of loan and the price range that will work out best for you.
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
Also talk to your lender to see if they offer assistance. Sometimes they have a better deal or can combine assistance.
12 21 19 market update Fox Valley. Have a great week. Happy Holidays!
Kristine Heiman, Designated 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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