Fox Valley home prices April 9 2022
Fox Valley home prices April 9 2022. Yes a river runs through our wonderful communities here in Illinois. More communities are stepping up and putting money into their riverfronts to make them special places to gather.
New listings increased. 239 this week compared to 189 the previous week. April, May and June are great months to list if you are working around the school schedule. Right now any day is a great day to list your home.
Closed listings were down. 159 this week compared to 202 the previous week. They should increase as we get closer to the end of the month.
Take a look at the communities with the most activity this week and the price ranges:
Aurora-New 36 $170,000-$749,000
Bolingbrook-New 16 $225,000-$509,000
Geneva-New 13 $284,900-$999,950
Naperville-New 52 $279,000-$1,200,000
Oswego-New 14 $329,000-$1,395,000
Plainfield-New 25 $279,000-$5,625,000
St Charles-New 12 $305,000-$875,000
Yorkville-New 14 $200,000-$598,000
Other communities had activity that you can see in the picture above. You should be able to click on it to make it larger.
Financing used, median prices and 2,000 SF or more
Median list price this week of homes in the Fox Valley area $399,000, last week $379,000
Closed median price this week $395,000, last week $384,950.
Conventional financing was used to close on 120 homes this week with median price of $407,000 with 39 days average market time, last week 147 at median price of $411,000 with 29 days average market time.
Cash was used to close on 22 homes this week with median price of $335,500 19 days average market time, last week 27 homes with median price of $380,000 12 days average market time.
FHA financing was used to close on 12 homes this week with median price of $300,490 43 days average market time, last week 23 homes at median price of $313,000 29 days average market time.
VA financing was used to close on 5 homes this week with median price of $454,990 66 days average market time, last week 6 homes with median price of $339,000 76 days average market time.
People looking for homes that were at least 2,000 square feet or more closed on 90 homes this week with a median price of $484,000 51 days average market time, last week 120 homes closed with median price of $459,500 28 days average market time. The minimum price of 2,000 Square feet or more was $260,000 this week, last week $299,000.
Conventional financing is still the financing seller’s are looking for if it is not cash right now. Other types of financing are having a hard time getting accepted.
Contracts accepted this week
247 contracts were accepted by seller’s on homes this week, last week 220. If more homes were on the market these numbers would be higher.
Look at the communities seller’s accepted the most contracts:
St Charles-18 Yorkville-13
2 short sales were accepted by seller’s this week. Both of them were in Aurora. Now they will be submitted to the lender to see if they will also accept. Most homeowners having difficulty right now can sell and still walk away at closing with money. Prices have increased so much. Let us see where you are at right now.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 1 with a kick-out clause of 72 hours, 1 with 48 hours and 3 with 24 hours. None were accepted with a home that the buyer still needed to sell this week.
The 247 homes that went under contract this week median price was $390,000 with 27 days average market time, last week the 220 homes median price was $369,950 with 20 days average market time.
2022 by the month
Month New Closed Contracts accepted
January 422 492 623
February 523 520 724
March 734 904 890
April 428 361 467
Totals 2107 2277 2704
Check back with us every Saturday for the real estate market update for the Fox Valley area in Illinois. At the end of each month we will also show you 2021 and 2020 so you can see how this year is going.
Click on each one to go to their site to get information.
Types of loans and the process
Check with your loan office for the interest rate they will offer you. It depends on your credit score.
If you are looking for any other information please let us know and we would be happy to point you in the right direction.
Call 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 provide you with a net proceeds that gives you an estimate of the expenses to sell along with what we think your home will be worth in today’s market. When an offer comes in we will update the net proceeds with all terms so you can make a good decision.
If you are thinking about buying a home right now you need to first get in touch with a loan officer and give them all your financial information. They will run you through underwriting so you will be pre approved. This shows seller’s you do qualify for their home. If the home appraises out for the contract price and no issues with title you will be able to close in a timely manner.
You can sign up for email alerts so you will receive listings of homes with your criteria as soon as they hit the market. You have to be ready to go and not wait. Homes are selling quickly.
You can also go to our facebook page and click on the “shop now” button and search anywhere in Illinois. Please “like” our page.
All data provided is from our MLS MRED, LLC.
Fox Valley home prices April 9 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