2021 Market Update Week 11
2021 market update week 11. New listings on single family homes were down this week. 171 this week compared to 218 the week before. We are going in the wrong direction. Today is the first day of Spring. We should be listing more not less homes. Seller’s where are you? Contact me as soon as possible.
Closed listings of single family homes were up this week. 226 this week compared to 177 the week before. We are heading towards the end of the month when most buyers want to close. They should increase next week as well.
Take a look at the communities with the most activity this week:
Aurora-New 16 $99,900-$699,000
Bolingbrook-New 12 $229,700-$410,000
Geneva-New 7 $239,900-$574,900
Naperville-New 53 $269,900-$3,000,000
Oswego-New 5 $269,900-$509,900
Plainfield-New 24 $183,000-$629,000
St Charles/Campton Hills-
New 14 $199,900-$1,450,000
Yorkville-New 6 $240,000-$425,000
You should be able to click on the photo above to see the other communities and price ranges. You might need to look at these other communities that are not your first choice to find a home. They are going fast though everywhere.
Contracts accepted this week
Contracts accepted on single family homes were up this week. 304 accepted this week compared to 289 the week before. Buyers are fighting over the listings that are available. Multiple offers are here to stay until more homes come on the market.
Look at the communities seller’s accepted the most contracts this week:
Plainfield-47 St Charles/Campton Hills-22
2 short sales were accepted by seller’s this week. 1 each in North Aurora and Sycamore. Now they will be submitted to the lender to see if they will also accept.
Seller’s accepted contracts this week that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours, 6 with 48 hours and 4 with 24 hours.
Also, a seller accepted a contract that is contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours.
I really thought it would happen sooner that seller’s would not accept contracts that buyer’s still had to sell their home and close. With all the competition out there and multiple offers seller’s are looking for the offer that has as few hurdles as possible to get past.
2021 market update by the month
Month New Closed Contracts accepted
January 543 649 829
February 561 604 778
March 579 616 853
Totals 1683 1869 2460
Check back with us every Saturday for the market update. At the end of the month I will compare to 2020 and 2019 so you will have something to compare to so you can see how the market is going.
March is not even over yet and all the totals look like they will be higher than the previous 2 months. We need to at least double the new listings though.
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.
Request a home valuation if you are thinking about selling. Give us a little information about any updates you have recently completed. We will let you know what your home is worth in today’s market. Provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms so you can make a good decision.
Thinking about buying a home? Contact a loan officer with all your financial information to get prequalified. You need to have everything in place and ready to go just in case you find a home. Multiple offers are the norm right now so you might not want to look at the top of your price range unless you have more cash to put down. So many homes are getting offers above the listed price because of low inventory of homes for sale.
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- FHA down payment assistance grants
- IDHA programs
Let us know if there is other information that you are looking for. I would be happy to point you in the right direction. If you need recommendations for loan officers, home inspectors or real estate attorneys. We can give you a few of each to contact to see which one you would prefer to work with.
2021 market update week 11. Have a great week!
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101