Fox Valley home prices April 16 2022

Fox Valley Home Prices April 16 2022

Fox Valley home prices April 16 2022.  New listings are down.  206 this week compared to 239 the previous week.  Hopefully it will pick up after the holiday.

Closed listings were up.  190 this week compared to 159 the previous week.

Fox Valley home prices April 16 2022

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

Aurora-New 29 $160,000-$569,000

            Closed-34 $120,000-$1,010,000

Bolingbrook-New 14 $249,000-$499,500

                    Closed-12 $158,000-$581,000

Geneva-New 3 $294,900-$599,900

            Closed-13 $240,000-$675,000

Naperville-New 35 $345,000-$1,395,000

                 Closed-34 $331,000-$2,200,000

Oswego-New 14 $255,000-$643,300

             Closed-3 $399,000-$410,000

Plainfield-New 27 $224,900-$849,900

                Closed-26 $240,000-$1,000,000

St Charles-New 11 $119,900-$3,895,000

                  Closed-15 $142,000-$895,000

West Chicago-New 12 $225,000-$1,425,000

                       Closed-3 $245,000-$630,000

Other communities had activity this week.  Take a look at the photo above to see the price ranges there.

Financing used, median prices and 2,000 SF or more

Median list price this week $387,000, last week $399,000.

Closed median price this week $391,000, last week $395,000.

Median list price for week ending April 16
Median list price for week ending April 16

Conventional financing used to close on 144 homes at median price $402,500 24 days average market time, last week 120 homes at median price of $407,000 39 days average market time.

Conventional financing used week ending April 16
Conventional financing used week ending April 16

Cash used to close on 24 homes with median price $410,000 8 days average market time, last week 22 homes at median price $335,500 19 days average market time.

Cash used to close week ending April 16
Cash used to close week ending April 16

FHA financing was used to close on 14 homes at median price $297,500 21 days average market time, last week 12 homes at median price $300,490 43 days average market time.

FHA financing used to close week ending April 16
FHA financing used to close week ending April 16

VA financing used to close 6 homes at median price $583,500 110 days average market time, last week 5 homes at median price $454,990 66 days average market time.

VA financing used to close week ending April 16
VA financing used to close week ending April 16

2,000 square feet or more closed on 116 homes at median price of $465,750 29 days average market time, last week 90 homes at median price $484,000 51 days average market time. Minimum price this week $175,000, last week $260,000.  What a difference a week makes!

2,000 SF or more closed week ending April 16
2,000 SF or more closed week ending April 16

Conventional financing is still the most used that gets accepted by the seller.  It is still challenging to get your offer accepted no matter what you are using.  Don’t give up.  Keep trying.  Try to write an offer with the most favorable terms that you are comfortable with.

Contracts accepted this week

Contracts accepted this week were up.  297 this week compared to 247 the previous week.

Fox Valley home prices April 16 2022-Contracts accepted this week

Look at the communities seller’s accepted the most contracts:

Aurora-53                    Bolingbrook-20

Geneva-14                     Naperville-60

Oswego-18                    Plainfield-29

St Charles-19

1 short sale was accepted by a seller this week.  It was in Aurora.  Now it will be submitted to the lender to see if they will also accept.  Most seller’s that are having difficulty right now can sell and still walk away with money at closing.  Prices have gone up so much.  You might not need to sell short.

Seller’s have accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours and 4 with 48 hours.

Also, seller’s have accepted contracts that are contingent on the buyer selling and closing on their current home.  1 with a kick-out clause of 48 hours and also 1 with 24 hours.

The median price of the 297 homes that went under contract this week was $399,000 23 days average market time, last week 247 homes at median price of $390,000 27 days average market time.

Contract accepted stats for week ending April 16
Contract accepted stats for week ending April 16

2022 by the month

Month       New   Closed   Contracts accepted

January        422         492              623

February      523         520              724

March          734         904              890

April            634         551               764

Totals     2313    2467         3001

Check back with us every Saturday for the real estate market update.  At the end of each month we will also take a look back at 2021 and 2020 so you can see how this year is going so far.

New listings have increased every month since January.  We hope that continues.

Resources

You can click on each one of these underlined to go to the site.

Types of loans and the process

VA loans and the requirements

Current interest rates

Down payment assistance

IHDA programs

Check with your loan officer to find out the interest rate you will be offered.  It depends on your credit score.  If you need to work on your score your loan officer will help you with that.

Contact us

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.

Request a home valuation if you are thinking about selling your home.  Tell us a little bit about your home and what has been recently updated.  We will let you know what it is worth in today’s market.  Also, we will provide you with a net proceeds that shows you an estimate of 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.

If you are thinking about buying a home get all your financial information together and get it to a loan officer so they can get you pre approved.  Then you will be ready to start looking at homes.

Sign up for email alerts so you will see homes as they hit the market.  You will want to go see it right away if you are interested.

All data provided today is from our MLS MRED, LLC.

Fox Valley home prices April 16 2022.  Have an awesome week!  Let us know how we can help you.

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Search for a home today!

Kriss New profile for FB 123121

 

Leave a Reply