2021 market update week 5

2021 market update week 5.  Slightly more listings of single family homes added this week.  128 this week compared to 120 the week before.  Buyer’s are looking for so much more to hit the market.  Especially more in each price range.  Multiple offers are here until we see a big jump in homes coming on the market.

Closed listings of single family homes was slightly down.  146 this week compared to 159 the week before.  The decrease from the end of January to the beginning of February was not that great.  They should slightly increase from here to the end of the month.

Take a look at the communities with the most activity this week:

Aurora-New 19 $130,000-$424,900

            Closed-24 $125,000-$392,500

Bolingbrook-New 7 $225,000-$494,000

                    Closed-11 $166,000-$364,000

Naperville-New 25 $299,000-$1,850,000

                 Closed-29 $250,000-$1,250,000

Plainfield-New 18 $225,000-$474,633

                Closed-19 $210,000-$612,500

St Charles/Campton Hills-

                 New 8 $285,000-$1,500,000

                 Closed-12 $255,000-$630,000

Contracts accepted this week

Contracts accepted on single family homes this week was slightly higher.  251 this week compared to 246 the week before.  These numbers would be so much higher if there were more homes on the market.  It does not seem to matter what time of year it is like most years.  Buyer’s have been looking and waiting for so long that they will grab a home when they can get it.  It makes it kind of hard when you are working around a lease. 

Look at the communities seller’s accepted the most contracts this week:

Aurora-26                                   Bolingbrook-18

Geneva-15                                  Naperville-41

Oswego-18                                 Plainfield-33

St Charles/Campton Hills-26      Yorkville-15

4 short sales were accepted by seller’s this week.  1 each in Aurora, Bolingbrook, Montgomery and Warrenville.  Now they will be submitted to the lender to see if they will also accept.

Seller’s accepted contracts that are contingent on the buyer closing on their current home.  2 with a kick-out clause of 72 hours and 5 with 48 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home.  2 with a kick-out clause of 72 hours and 4 with 48 hours.

2021 by the month

Month                         New     Closed     Contracts accepted

January                       543        649              829

February                     128        146              251

Totals                          671        795            1080

Check back with us every Saturday for the 2021 market update.  At the end of each month I will show you the previous 2 years so you will have something to compare too so you can see how the market is doing.

Contact us

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 goal.

Homes are selling like hotcakes!  If you have been thinking about making a move, now is the time to sell.  Get rid of all the unnecessary things you have been holding on to.  Do a deep clean and put a fresh coat of paint in each room.  Check for any repairs that need to be tended to now.  Request a home valuation so we can let you know what your home is worth in today’s market.  We will provide you with a net proceeds that shows you and estimate of 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.

Are you thinking about buying a home this year?  Get in touch with a loan officer to get prequalified.  You will need 2 years of tax returns, pay stubs, bank statements, car payment and credit card information.  If you have any other monthly payments you will need to have them too.  They will provide you with a letter showing the price and type if loan that will work out best for you.  When you find a home this will go with an offer to show the seller that you qualify for their home. 

Resources to check out:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• Illinois homeowner assistance and some community assistance
• IDHA programs

Let me know what other information you are looking for and we will point you in the right direction.  We will also give you a few recommendations for loan officers, real estate attorneys and home inspectors if you don’t have someone already.

I am here to guide you through the process.

2021 market update week 5.  Have a great week!

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