2021 Real Estate Market Update Week 15
2021 real estate market update week 15. New listings of single family homes were down this week. 241 this week compared to 260 the week before. It is April we should be increasing every week.
Closed listings of single family homes were up this week. 222 this week compared to 192 the week before. As we head to the end of the month they should increase. Most buyers want to close at the end of the month so they can bring less money to closing.
Take a look at the communities with the most activity this week:
Aurora-New 40 $139,900-$750,000
Batavia-New 10 $210,000-$739,900
Bolingbrook-New 11 $190,000-$469,000
Geneva-New 12 $299,900-$1,599,000
Naperville-New 55 $269,900-$2,250,000
Oswego-New 11 $245,000-$1,000,000
Plainfield-New 27 $239,900-$749,900
St Charles/Campton Hills-
New 24 $179,900-$850,000
West Chicago-New 7 $245,000-$484,900
Average median listing price this week is $370,000. Average selling price is $345,500
Contracts accepted this week
Contracts accepted on single family homes are up. 359 this week compared to 296 the week before. We need to really increase inventory of homes to start to satisfy the demand from buyers that are looking. We continue to see multiple offers. Prices are increasing because of it.
Look at the communities seller’s accepted the most contracts:
St Charles/Campton Hills-32 West Chicago-10
1 short sales was accepted by a seller this week. It was in Naperville. Now it will be submitted to the lender to see if they will also accept it.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 6 with 48 hours and 2 with 24 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 48 hours and 1 with 24 hours.
You can see that, at this time, you better have a contract on your home if you want to have a chance on submitting an offer. Multiple offers is the norm now.
2021 real estate market update by the month
Month New Closed Contracts accepted
January 543 649 829
February 561 604 778
March 993 1099 1455
April 501 414 655
Totals 2598 2766 3717
March was a good month. I don’t know if we will hit close to the closed numbers this month. Closed is the the main column to keep an eye on. These are actual numbers. New and contracts accepted can sometimes be counted more than once if a home is relisted or if a contract fall apart and then gets another one accepted.
Check back with us every Saturday for the update. At the end of each month we will take a look back at 2020 and 2019 so you can see the comparison.
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.
It is a great time to be a seller! Prices are increasing. Request a home valuation and give a little information about your home and what updates you have completed. We will provide you with a net proceeds that shows you the expenses to sell. When an offer comes in we will update this when we know all the terms so you can make a good decision.
Thinking about buying a home? You have to be ready to go with a letter from a lender showing how much home you can afford and what type of loan. This will go with an offer when we find you a home. You also have to be ready to go when a listing hits the market. You will be up against multiple offers. This is not the market for you to go home and think about it.
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IHDA programs
One of the IDHA programs might help with student debt and another one if you live there for 5 years it might be forgiven. It is worth your time to check it out.
If you need recommendations for a loan officer, real estate attorney and home inspector we would be happy to provide you with a few that we have successfully worked with and you can choose who you want to work with.
It is an exciting time to sell and buy a home, but it can be stressful. We will do everything we can to explain as we go through the process so you know what to expect.
2021 real estate market update week 15. Have a great week!
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101