How many VA deals closed in week 32? Shortly we will break it down for you what types of financing was chosen most this week. There are many veterans that live in the Fox Valley area. We do not know how many VA offers were not accepted, but we do know how many closed this week.
First we will talk about new listings for the week. New listings were down. 251 this week compared to 264 the week before. This is making a low inventory situation even worse.
Closed listings were also down. 291 this week compared to 340 the week before. This will increase as we get closer to the end of the month.
Take a look at the communities that had the most activity this week:
Aurora-New 35 $140,000-$599,900
Batavia-New 7 $235,000-$650,000
Bolingbrook-New 23 $200,000-$507,174
Geneva-New 11 $235,000-$1,295,000
Naperville-New 37 $299,900-$2,195,000
Oswego-New 8 $289,900-$544,900
Plainfield-New 41 $255,000-$899,900
St Charles-New 20 $275,000-$1,275,000
West Chicago-New 10 $214,000-$1,075,000
Financing, median list and closed price
Median list price this week $361,470, and last week $350,000.
Median closed price this week $375,000, and last week $365,000.
The median list and closed prices have been fluctuating up and down, but basically staying in the same range.
Conventional deals that closed this week 221, and last week 248.
Cash deals that closed this week 33, and last week 39.
FHA deals that closed this week 26, and last week 41.
VA deals that closed this week 9, and last week 12.
Totals were down in each one. We do not know how many VA loan offers are not getting accepted, but the trend you can see is seller’s are accepting more Conventional loans then anything else. Hopefully, it is not that agents are shying away from VA loans because they think they will be hard or take longer to close. If a home is in good condition there should be no problem with getting a VA loan approved. Using a lender that is familiar with the process is very important.
Contracts accepted this week
Contracts accepted this week were up. 303 this week compared to 281 the week before.
Look at the communities seller’s accepted the most contracts this week:
Plainfield-41 St Charles-24
West Chicago-16 Yorkville-19
No short sales were accepted by seller’s this week.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours, 6 with 48 hours, and 4 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.
2021 by the month
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 1118 1182 1210
August 515631 584
Totals 7274 8005 9203
We started out the year ahead with closed homes. Deals that were accepted in 2020 that closed in the beginning of the year. There is usually a gap between new and closed, but not this year.
It continues to be a seller’s market. We are still seeing multiple offers, but it is not as intense. We are starting to see price reductions on some of the higher priced homes.
Call us at 630-503-6555 with all 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 your home. Give us some information about what has been recently updated. We will provide you with a net proceeds that shows you the expenses to sell so you can see where you are at. This will be updated when an offer comes in and we know all the terms.
If you are thinking about buying a home, you will want to find a loan officer that will put you through the process to get pre approved. Getting pre-qualified just is not enough anymore when you are going to be up against multiple offers. Seller’s will be confident in accepting an offer with a pre approval before they accept an offer with a buyer that has not gone through the process.