2021 market update week 8

2021 market update week 8.  New listings of single family homes were up this week.  152 this week compared to 133 the week before.  We have had a wonderful week with temperatures.  It feels like Spring!

Closed listings on single family homes were also up this week.  208 this week compared to 134 the week before.  That is the difference of a week at the end of the month when most buyers want to close.

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

Aurora-New 27 $115,000-$775,000

            Closed-24 $122,000-$512,000

Bolingbrook-New 5 $269,900-$348,000

                    Closed-12 $170,000-$432,000

Geneva-New 4 $324,900-$1,150,000

              Closed-12 $175,000-$600,000

Naperville-New 43 $299,000-$2,300,000

                 Closed-41 $265,000-$1,350,000

Oswego-New 7 $325,000-$499,900

               Closed-12 $271,000-$387,000

Plainfield-New 11 $250,000-$1,189,000

                Closed-23 $205,000-$540,000

St Charles/Campton Hills-

                New 7 $269,900-$809,000

                Closed-20 $280(which must be a mistake)-$815,000

Yorkville-New 6 $173,900-$364,900

               Closed-11 $274,000-$519,900

Contracts accepted this week

Contracts accepted on single family homes were also up this week.  257 this week compared to 242 the week before.  You can see the buyers are out there.  With only 152 new listings we are not increasing inventory of homes.  Now is the time to sell if you are thinking about it.  It continues to be a seller’s market with prices increasing.

Look at the communities that seller’s accepted the most contracts:

Aurora-31                                        Bolingbrook-14

Geneva-13                                      Naperville-37

Oswego-18                                     Plainfield-41

St Charles/Campton Hills-24          Yorkville-15

Only 1 short sale was accepted by a seller this week.  It was in Elburn.  Now it 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.  4 with a kick-out clause of 72 hours, 4 with 48 hours and 3 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home.  1 with a kick-out clause of 72 hours, 2 with 48 hours and 1 with 24 hours.

2021 market update week 8 and also a look back at 2020 and 2019

2021

Month                  New     Closed     Contracts accepted

January                 543           649                  829

February               561           604                   778

totals                   1104         1253                 1607

2020

January               1105           566                   858

February             1267           529                 1024

Totals                  2372         1095                 1882

2019

January                878            407                   568

February            1032            463                    832

Totals                 1910            870                  1400

Closed is the column to look at.  These are actual numbers.  New listings can be relisted and contracts accepted can have an issue come up and go back on the market.  Look how low we are with new listings even though more homes have closed this year.  If you are wondering why agents are knocking on your door or you are getting something in the mail it is because of the buyers out there with nothing to look at.  If you are thinking about selling now is the time.

Check back with us every Saturday for the market update.  At the end of each month I will compare it to the previous 2 years so you can see how this year is going.

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.

If you are thinking about selling this year 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 the expenses to sell.  This will be updated when an offer comes in and we know all the terms.

Thinking about buying a home this year?  Talk with a loan officer first to get prequalified.  Get all your information together and keep it in a folder to keep handy.  They will provide you with a letter showing what type of loan and what price works out best for you.  When you find a home this will go with your offer to show the seller that you do qualify for their home.

Resources that might help you:

• 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

If there is other information that you are looking for let me know and I will point you in the right direction.  We can recommend a few real estate attorneys, home inspectors or loan officers so you can choose who you want to work with.

2021 market update week 8.  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