Fox Valley home prices April 2 2022
Fox Valley home prices April 2 2022. We will show you the communities that are the most active, median prices, financing used, how many contracts were accepted this week. Compare what has happened so far this year and look back at 2021 and 2020 so you can see how this year is going so far. Share resources and how to contact us with questions.
New listing of single family homes were up. 189 this week compare to 168 the previous week.
Closed listings were also up. 202 this week compared to 171 the previous week.
Take a look at the communities with the most activity this week:
Aurora-New 20 $149,900-$499,900
Bolingbrook-New 13 $269,000-$520,000
Naperville-New 35 $300,000-$1,849,000
Oswego-New 18 $230,000-$799,900
Plainfield-New 23 $289,000-$619,700
St Charles-New 15 $149,999-$849,900
Yorkville-New 7 $319,000-$924,900
Other communities had activity this week. Click on the photo above to see.
Financing most used, median prices and 2,000 SF or more
Median list price this week $379,000, last week $390,000.
Closed median price this week $389,950, last week $370,000.
Conventional financing was used to close on 147 single family homes with a median price of $411,000 with 29 average market days, last week 117 homes with median price of $405,000 with 36 average market days.
Cash was used to close on 27 homes with median price of $380,000 with 12 average market days, last week 18 homes with median price of $457,750 with 21 average market time.
FHA financing was used to close on 23 homes with median price of $313,000 and 29 average market time, last week 28 homes at median price of $269,500 with 20 days average market time.
VA financing was used to close on 6 homes this week with a median price of $339,000 and average market time of 76 days, last week 8 homes with median price of $498,750 and 41 days average market time.
People looking for a home that was at least 2,000 square feet or more closed on 120 homes at a median price of $459,500 with 28 days average market time, last week 93 homes with a median price of $462,500 with 34 days average market time. The minimum price this week $299,000, last week $277,000.
Right now the financing you use makes a difference, but it is not the only thing. Timing and other terms might be more important for a seller. Finding out is key.
Contracts accepted this week
Contracts accepted this week were consistent. 220 this week compared to 222 the previous week. That is pretty consistent. They would be higher though with more listings. We are still dealing with not enough homes for the buyers that are out there looking.
Look at the communities seller’s accepted the most contracts this week:
St Charles-13 Sycamore-12
No short sales were accepted by seller’s this week. Some people that are struggling can sell and still get money at closing. Prices have increased enough that they do not have to sell short.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 1 each with a kick-out clause of 72, 48 and 24 hours.
Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 4 with a kick-out clause of 48 hours and 1 with 24 hours.
The median price of the 220 homes that received contracts this week was $369,950 with 20 days average market time. Last week 222 homes received a contract with median price of $394,950 with 20 days average market time. We will not know the price they agreed to until they close.
2022 by the month and a look back at 2021 and 2020
Month New Closed Contracts accepted
January 422 492 623
February 523 520 724
March 923 1106 1110
Totals 1868 2118 2457
January 543 649 829
February 561 604 778
March 993 1099 1455
Totals 2097 2352 3062
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
Totals 3558 1802 2961
New listings has decreased every year. This is why prices have increased.
More of the homes that have gone under contract that actually closed has increased every year. It has helped that loan officers are putting buyer’s through underwriting instead of just getting their information over the phone and checking their credit. We know the buyer’s are good to go and just need to make sure the appraisal works out and no issues with title.
If you are looking for any other information just let us know and we will point you in the right direction.
You will need to contract your loan officer to see what interest rate you will be offered. It depends on your credit score. The better your credit score the better the rate you will be offered. They can help you to increase your score if you need it. Just ask them what you can do.
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. We will let you know what it might sell for and show 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 you need to start with a loan officer and get them all your financial information so they can run you through underwriting to get you pre approved. You will be ready to go then and once you find a home all you need to do is make sure it appraises out and get the title updated. You can sign up to get homes emailed to you as they hit the market. All you need to do is sign up for email alerts. You can also go to my facebook page and click on “shop now” to search for homes.
We will guide you through the process.
All data provided is from our MLS. MRED, LLC
Fox Valley home prices April 2 2022. Have an awesome week!
Kristine Heiman, SFR, SRS, AHWD
Designated Managing Broker
Best Homes Fox Valley
200 Webster ST
Montgomery, IL 60538
630-503-6555 ext 101