2021 Real Estate Market Update Week 26
2021 real estate market update week 26. New listings this week are down. 239 this week compared to 285 the week before. Next week hopefully will be better with getting past the holiday.
Closings this week were way up. 419 this week compared to 292 the week before. Usually closing are up at the end of the month but some of these might of been delayed closings.
Take a look at the communities with the most activity this week:
Aurora-New 29 $149,900-$595,000
Closed-63 $106,000-$753,000
Bolingbrook-New 18 $174,900-$501,375
Closed-29 $194,000-$513,925
Geneva-New 10 $275,000-$864,900
Closed-19 $249,500-$1,700,000
Naperville-New 47 $249,900-$1,650,000
Closed-80 $265,000-$1,649,000
North Aurora-New 5 $224,900-$359,900
Closed-12 $205,000-$500,000
Oswego-New 10 $275,000-$725,000
Closed-15 $250,000-$465,000
Plainfield-New 32 $185,000-$550,000
Closed-52 $160,000-$640,000
St Charles-New 21 $180,000-$705,000
Closed-40 $184,900-$1,450,000
Sycamore-New 6 $105,000-$439,000
Closed-15 $117,000-$585,000
Warrenville-New 0
Closed-12 $216,000-$740,000
West Chicago-New 6 $324,000-$850,000
Closed-13 $210,000-$530,000
Yorkville-New 7 $335,000-$565,000
Closed-15 $221,000-$400,000
Median list price this week is $369,504, and the week before was $370,000
Median closed price this week is $370,000, and the week before was $373,750.
Contracts accepted this week
Contracts accepted this week were down. 325 this week compared to 355 the week before. This July 4th holiday has impacted the market this week. We should get back to normal next week.
Look at the communities seller’s accepted the most contracts this week:
Aurora-50 Batavia-18
Bolingbrook-22 Geneva-14
Naperville-62 Oswego-16
Plainfield-31 St Charles-30
Yorkville-15
No short sales were accepted by seller’s this week. Most homes have appreciated in this market enough that they would not have to sell short.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours, 7 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 72 hours, 3 with 48 hours and 1 with 24 hours.
2021 real estate market update by the month and a look back at 2020 and 2019
2021
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 1450 1686 1671
Totals 5641 6192 7409
2020
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
April 648 786 775
May 1352 1010 1444
June 1232 908 1534
Totals 6790 4506 6714
2019
January 878 407 568
February 1032 463 832
March 1731 915 1375
April 1594 792 1307
May 1645 995 1280
June 1643 1253 1218
Totals 8523 4825 6580
Even in a tighter market with less new listings than the previous 2 years 2021 closed on more homes. We are at the halfway mark for the year. Prices are up. We are still seeing multiple offers. It continues to be a seller’s market.
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.
Request a home valuation if you are thinking about selling this year. Give us a little information about your home and what has been updated recently. 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 so you can make a good decision.
Thinking about buying this year? You will need to get pre approved with a loan officer. You will need to provide them with all your financial information. Today you can’t just call them and get prequalified you need to go through the process of getting pre approved. You will be up against multiple offers so you need to take this next step before even looking for homes. They are going fast. You need to be ready to look as soon as they hit the market and be ready to write an offer.
Resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IHDA programs
If you need recommendations for loan officers, real estate attorneys or home inspectors we can provide you with a few of each so you can decide who you would like to work with.
2021 real estate market update week 26. Happy 4th of July! Have a great week.
Kristine Heiman, SFR, SRS, AWHD
Designated Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101