Fox Valley home prices January 15 2022
Fox Valley home prices January 15 2022. This is the 2nd full week of 2022. The real estate market is off to a slow start with new listings. 94 this week compared to 106 the previous week.
Closed listings this week are staying consistent. 127 this week compared to 122 the previous week.
January and February are usually slower months. It is a great time to list your home now if timing is not an issue. You can get ahead of the spring market. Buyers are still out there waiting for something to come on the market.
Take a look at the communities with the most activity this week:
Aurora-New 14 $194,500-$679,000
Naperville-New 19 $379,900-$1,499,500
Plainfield-New 8 $289,900-$585,658
St Charles-New 8 $179,900-$707,000
Financing used, median prices and 2,000 or more square feet
The median list price of single family homes this week was $350,000, last week $362,500.
Closed median price this week was $331,000, last week $367,500.
Conventional financing is still the most used or accepted by seller’s. 90 this week with a median price of $365,000, last week 83 at $408,000 median price.
Cash was used for 18 homes to close this week with a median price of $282,500, last week 17 at $355,000 median price.
FHA was used for 18 homes to close at a median price of $258,500 this week, last week 14 closed with $270,500 median price.
VA financing was used to close 1 home at a price of $432,990 this week, last week 6 homes closed at $344,495 median price.
Buyers looking for a single family home that is at least 2,000 or more square feet closed on 70 homes at a median price of $434,000 this week, last week they closed on 76 homes at a median price of $465,750.
The minimum price for 2,000 square feet or more closed this week at a price of $235,000, last week $240,000.
2022 by the month
Month New Closed Contracts accepted
January 200 249 282
Check back with us every Saturday. At the end of each month we will compare to 2021 and 2020 so you can see how the market is doing.
Contracts accepted this week
Contracts accepted this week on single family homes was up. 172 this week compared to 110 the previous week. Buyers are out there waiting for homes to come on the market. So many of them were in multiple offer situations on homes that were not chosen and are still looking. No need to wait to put your home on the market.
Look at the communities seller’s accepted the most contracts:
These communities are consistently on this list every week.
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. 5 with a kick-out clause of 48 hours.
Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours, 1 with 48 hours and also 1 with 24 hours.
If you need me to explain what this means just give me a call and I will be happy to explain it to you.
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.
Do you need help with a divorce situation or an estate? If you want to know what your next steps are call us and we will explain the process. Of course you will also need to contact a real estate attorney.
Request a home valuation to see what your home is worth in today’s market. We will also give you an estimate of what your expenses might be 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 this year? Plan ahead! Contact a loan officer and get them all your financial information so they can get you pre approved. Then you will be ready to start looking.
Check with your loan office to see what interest rate you qualify for with your credit score. If you need to bring your score up to get a better rate they can help you. Ask them if they offer any assistance.
All data used is from our MLS MRED, LLC.
If you would like to be set up to receive listings let us know what area you are looking for, the price range, and how many bedrooms you need. Any other things that you are looking for that you would like in your search. You have choices to get the information as it hits the market or you can choose to receive it at certain times of the day.
We want to make the home buying or selling process as good of an experience as we can. We have had years of experience and stay on top of things.
Fox Valley homes prices January 15 2022. Have a great week!
Kristine Heiman, SFR, SRS, AHWD, C2EX
Designated Managing Broker
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101