2021 Real Estate Market Update Week 25
2021 real estate market update week 25. New listings of single family homes is down. 285 this week compared to 315 the week before. This is so discouraging for buyers that are waiting for new listings to come on the market. They just can not come on the market fast enough. Prices continue to rise because of the shortage of homes on the market. Some buyers are even getting priced out of the market.
Closed listings of single family homes was also down. 292 this week compared to 315 the week before. Monday through Wednesday next week I am sure will be busy. The last days of the month when most buyers want to close.
Take a look at the communities with the most activity this week:
Aurora-New 39 $149,900-$599,900
Batavia-New 15 $239,900-$725,000
Bolingbrook-New 22 $214,900-$518,700
Geneva-New 11 $275,000-$665,000
Naperville-New 63 $275,000-$1,790,000
Oswego-New 8 $325,000-$619,000
Plainfield-New 33 $210,000-$565,000
St Charles-New 24 $200,000-$995,000
Yorkville-New 14 $280,000-$589,900
Median list price this week $370,000 last week $374,450
Median closed price this week $373,750 last week $361,000
Contracts accepted this week
Contracts accepted this week on single family homes was up. 355 this week compared to 332 the week before. We are still seeing multiple offers. Strong sellers market continues.
Look at the communities sellers accepted them ost contracts:
St Charles-26 Yorkville-12
1 short sale was accepted this week by a seller on a single family home. It was in St Charles. Now it will be submitted to the lender to see if they will also accept.
Sellers accepted contracts that are contingent on the buyer closing on their current home. 3 with a kick-out clause of 72 hours, 11 with 48 hours and 4 with 24 hours.
Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 3 with a kick-out clause of 48 hours.
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 1006 926 1387
May 1088 1228 1289
June 1211 1267 1346
Totals 5402 5773 7084
You can see how things increased from March on, and it is not slowing down a bit.
Check back with us every Saturday. At the end of each month we will also look back at 2020 and 2019 so you can see how this year is going..
Next week I will compare to the previous 2 years since there are 3 days next week of June.
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.
Request a home valuation if you are thinking about selling this year. You will see 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 this year? You have to be both patient and on the ball. You will most likely be up against multiple offers When a listing comes on the market you have to be ready to go see it that day. Getting prequalified is not enough. You need to get preapproved. If your loan officer will not do that, find another one that will do it.
If you will be buying with cash, you will need a letter from your financial institution stating that you have the money available to purchase that priced home plus closing costs.
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IDHA programs
If you need recommendations for a real estate attorney, home inspector or loan officer we can give you a few to contact so you can decide who you want to work with.
Buying/selling a home is very exciting. It also can be very stressful. We will guide you through the process and explain everything to you so you know what to expect.
All data came from our MLS MRED, LLC
2021 real estate market update week 25. Have a great week!
Designated Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101