2021 Real Estate Market Update Week 28

2021 real estate market update week 28.  Welcome back!  We are here to give you as much information as we can about the market here in the Fox Valley area of Illinois.

New listings of single family homes were down.  277 this week compared to 287 the week before.  Any decrease, even if it is small, is not good.  There just is not enough homes on the market.

Closed listings of single family homes were way up.  305 this week compared to 206 the week before.  As we head into the end of the month they should increase.

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

Aurora-New 40 $142,000-$739,000

            Closed-49 $165,000-$615,000

Batavia-New 7 $274,900-$524,900

             Closed-10 $335,000-$960,000

Bolingbrook-New 26 $175,000-$499,900

                    Closed-19 $205,250-$774,900

Geneva-New 8 $249,900-$763,000

             Closed-16 $195,000-$860,000

Montgomery-New 6 $165,000-$292,500

                     Closed-14 $167,350-$361,000

Naperville-New 47 $278,000-$1,990,000

                 Closed-46 $240,000-$1,400,000

North Aurora-New 2 $199,900-$339,900

                      Closed-10 $291,000-$462,000

Oswego-New 15 $300,000-$525,000

              Closed-14 $177,000-$610,000

Plainfield-New 38 $225,000-$1,000,000

                Closed-40 $250,000-$640,000

St Charles-New 20 $279,990-$1,395,000

                  Closed-19 $185,000-$696,000

Sycamore-New 11 $259,900-$549,900

                  Closed-12 $140,000-$615,000

Yorkville-New 15 $267,500-$449,000

               Closed-7 $285,000-$430,000

To see the other communities click on the photo above to enlarge.  You might need to look in communities around where you would like to live to find something.  If you are looking by school district or a certain subdivision we can set you up to receive listings in those areas.  Just let us know what you are looking for.

Median price and type of financing 

Single family homes median list price this week was $359,900, and last week it was $379,900

Median closed price of single family homes this week was $355,000, and last week it was $370,000.

Financing of single family homes that closed this week:

Conventional-232

Cash-28

FHA-39

VA-6

Financing of single family homes the week before:

Conventional-153

Cash-25

FHA-26

VA-4

I decided to add this so you can see what type of financing most buyer’s are using right now to get their offer accepted.

Contracts accepted this week

Contracts accepted this week on single family homes were up.  321 this week compared to 270 the week before.

 

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

Aurora-61                                 Bolingbrook-23

Geneva-10                               Montgomery-13

Naperville-57                           Plainfield-40

St Charles-27

1 short sale was accepted this week by a seller.  It was in St Charles. 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.  5 with a kick-out clause of 72 hours, 8 with 48 hours and 1 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, 3 with 48 hours and 1 with 24 hours.

2021 real estate market 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                           1450         1686               1671

July                              564            511                 591

Totals                         6205          6703               8000

You can see on the contracts accepted column, that contracts have been accepted more than once on a home.  Sometimes because of inspection issues, appraisal issues or loan did not get approved.

Closed is the most important column. These are actual numbers.  At the end of each month I will compare to 2020 and 2019 so you can get a better idea of how this year is going.

Contact us

Call us with all your real estate questions.  Your goal is our goal.  We will do everything we can to help you reach your goal.

Thinking about selling in this wonderful seller’s market?  Request a home valuation and tell us a little bit about your home.  What updates have you completed.  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.

Are you wanting to buy a home?  You need to get pre approved with a loan officer first.  Get them all your financial information.  You have to be ready to go or you will lose out.  You will be up against multiple offers.

Resources:

• Types of loans and the process
• VA loans and the requirements
• Current interest rates
• Down payment assistance
• IHDA programs

If there is still information that you are looking for just let us know, and we will point you in the direction to the information.

All data used here is from our MLS MRED  LLC.

2021 real estate market update week 28.  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