Fox Valley home prices February 12 2022

Fox Valley home prices February 12 2022

Fox Valley home prices February 12 2022.  Consistent it is, but we are waiting for it to let loose.  Will that happen this year?  So far, we are below last years numbers.

New listings of single family  homes is 110, last week 113.  That is pretty steady numbers.

Closed listing this week 107, last week 164.  The number should increase as we head into the end of the month when most buyer’s want to close.

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

Aurora-New 23 $130,000-$715,000

            Closed-18 $150,000-$985,000

Naperville-New 21 $290,000-$1,250,000

                 Closed-15 $266,000-$826,000

Plainfield-New 13 $235,000-$659,900

The photo above shows the other communities that had activity this week.  You can see why it is an awesome time to be a seller.  There is no real competition.

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

Median price of new listings of single family homes this week is $345,000, last week $375,000.

Closed this week median price is $341,000, last week $344,000.

Stats for February 12 2022
Stats for February 12 2022

Conventional financing was used to close 73 single family homes this week at a median price of $387,000, last week 113 homes at median price of $381,000.

Conventional financing used February 12 2022
Conventional financing used February 12 2022

Cash was used to close 15 homes this week at a median price of $284,500, last week 23 at a median price of $281,615.

Cash used February 12 2022
Cash used February 12 2022

FHA financing was used to close 16 homes this week at a median price of $262,500, last week 22 homes at a median price of $306,000.

FHA financing used February 12 2022
FHA financing used February 12 2022

VA financing was used to close 3 single family homes this week at median price of $290,000, last week 6 homes at  median price of $301,500.

VA financing used February 12 2022
VA financing used February 12 2022

The type of financing you use became a big deal in 2021.  There were so many multiple offer situations seller’s had a choice of which offer to accept, and of course, cash always came first.  Not everyone has cash to purchase so Conventional was their next choice.  It was hard for buyer’s to understand this at first.  We would tell them to also get pre approved for Conventional when they would show us that they were pre approved for FHA.

58 single family homes closed that were 2,000 square feet or more this week at a median price of $422,495, last week 98 closed at median price of $426,000.  The minimum price that closed this week was $152,000, last week it was $85,000.

2000 SF or more February 12 2022
2000 SF or more February 12 2022

More square feet became very important after the pandemic hit.  So many people were working from home and needed a home office or just extra space in general.

Contracts accepted this week

Fox Valley home prices February 12 2022-Contracts accepted this week

Contracts accepted on single family homes were consistent.  176 this week compared to 170 the previous week.

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

Aurora-29                       Bolingbrook-13

Naperville-24                  Oswego-11

Plainfield-26                   St Charles-13

2 short sales were accepted by seller’s.  1 each in Bolingbrook and Naperville.  Now they will be submitted to the lender to see if they will also accept.

A seller accepted a contract that is contingent on the buyer closing on their current home.  1 with a kick-out clause of 48 hours.  Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home.   1 each with a kick-out clause of 72 hours, 48 hours and 24 hours.

The median price of single family  homes that went under contract this week was $379,000 with an average market time of 40 days, last week the median price was $349,900 with an average days on market also 40 days.

Contingent Stats February 12 2022

2022 by the month

Month        New   Closed   Contracts accepted

January          422         492               623

February        223         271                346

Check back with us every Saturday.  At the end of each month we will also show you 2021 and 2020 so you can see how this year compares.

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. We will let you know how much it is worth in today’s market.  Also, we will provide you with a net proceeds that shows you an estimate of the 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 this year call a loan officer and get pre approved.  Get them all your financial documents so they can put it through underwriting so when you find a home all you will need to wait for is the appraisal and title update.

Resources

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 will offer you.  It depends on your credit score.  They will help you if you need to bring up your score.

Let us know what other information you are looking for.  We would be happy to get it to you or point you in the right direction.

All data provided is from our MLS MRED, LLC.  This is from the data I downloaded this morning.  It changes all the time in real time.

Fox Valley home prices February 12 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

Search for a home today!   

Kriss New profile for FB 123121

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