Fox Valley home prices April 30
Fox Valley home prices April 30. New listings of single family homes are down. 232 this week compared to 302 the previous week. This is not heading in the right direction. We need to keep increasing the amount of homes listed to keep up with the demand.
Closed listings this week are slightly up. 217 this week compared to 198 the previous week. Most buyers want to close at the end of the month.
Take a look at the communities with the most activity this week:
Aurora-New 29 $129,000-$925,000
Bolingbrook-New 20 $275,000-$525,000
Geneva-New 12 $239,500-$799,900
Naperville-New 50 $285,000-$1,525,000
Oswego-New 16 $160,000-$650,000
Plainfield-New 24 $199,000-$659,900
St Charles-New 18 $274,900-$838,000
Yorkville-New 7 $255,000-$499,900
Financing used, median prices and 2,000 SF or more
Median list price this week $399,900, last week $410,000.
Closed median price this week $393,717, last week $389,000
Conventional financing was used to close on 170 homes this week at a median price of $415,500 in 20 days average market time, last week 152 homes closed at median price of $395,000 with 27 days average market time.
Buyers used cash to close on 27 single family homes with a median price of $370,000 and 29 days average market time, last week buyers closed on 23 homes with a median price of $470,000 and 12 days average market time.
FHA financing was used to close on 16 homes with a median price of $307,500 and 27 days average market days, last week also 16 homes at median price of $287,500 and 12 days average market time.
VA financing was used to close on 4 homes with a median price of $332,500 and 6 days average market time, last week 6 homes with a median price of $258,500 and 41 days average market time.
2,000 square feet or more homes closed on 140 single family homes with a median price of $473,142 and 20 days average market time, last week 116 homes with a median price of $473,750 and 33 days average market time. Minimum price this week for a home that is at least 2,000 SF or more closed at $258,000, last week $191,000.
Contracts accepted this week
Contracts accepted this week were up. 325 this week compared to 245 the previous week.
Look at the communities seller’s accepted the most contracts this week:
Naperville-66 North Aurora-12
St Charles-24 Winfield-11
1 short sale was accepted by a seller this week. It is in Aurora. 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. 3 with a kick-out clause of 72 hours, 10 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. 3 with a kick-out clause of 48 hours.
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 734 904 966
April 1168 966 1334
Totals 2847 2882 3571
January 543 649 829
February 561 604 778
March 993 1099 1455
April 1006 926 1387
Totals 3103 3278 4449
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
April 648 786 775
Totals 4206 2588 3736
2020 had the most new listings with the least amount of closed. This year we have the least amount of new listings and we are coning in 2nd for closed listings out of the 3 years.
New listings are steadily increasing this year, but not fast enough for the amount of buyers that are looking.
Click on anything that is underlined to take you to the site to get the information. If there is any other information that you are looking for just let us know.
- 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 see what interest rates they are offering you. It depends on your credit score what interest rate you will be offered. They can help you bring up your score if you need to improve it.
Get the loan officer all your financial information so they can run you through underwriting so you are ready to go. When you find a house all you will need to do is home inspection/attorney review, and then you will be ready to order the appraisal. Just talking to them over the phone and giving them your information isn’t good enough anymore. You need to take this extra step to get ready before looking for homes.
Request a home valuation if you are thinking about selling your home. Let us know about your home and what has recently been updated. We will provide you with a net proceeds that shows you an estimate of the expenses to sell. When an offer comes in we will update this when we know all the terms.
You can sign-up for email alerts and get listings as they hit the market so you will not miss out on a thing.
If you are on facebook you can go to my business page and click on “shop now” and search anywhere in Illinois. You can even see what has sold.
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 need names of home inspectors or real estate attorneys we can provide you with a few that we have successfully worked with.
All data provided is from our MLS. MRED, LLC. It changes constantly throughout the day as agents update their information with new listings and status changes.
Fox Valley home prices April 30. 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