Fox Valley home prices January 29 2022
Fox Valley home prices January 29 2022. The market continues to be very tight. It is awesome for seller’s, but trying for buyer’s.
New listings of single family homes are pretty consistent with the week before. 112 this week compared to 110 the previous week.
Closed listings this week 121, last week 122.
Take a look at the communities with the most activity this week:
Aurora-New 15 $170,000-$500,000
Closed-15 $125,550-$394,000
Bolingbrook-New 11 $225,000-$525,000
Closed-9 $215,000-$630,000
Naperville-New 15 $280,000-$2,239,000
Closed-14 $315,000-$775,000
Plainfield-New 13 $265,000-$665,990
Closed-13 $200,000-$523,797
Click on the photo above to see the activity in the other communities.
Financing used, median prices and 2,000 SF or more
The median list price this week $329,900, last week $369,995
Closed median price this week $325,000, last week $354,000
Conventional financing was used to close 74 homes with a median price of$344,000, last week 89 homes at median price of $374,900.
Cash was used to close 18 homes at median price of $197,750, last week 15 homes at median price of $295,000
FHA financing was used to close on 18 homes at median price of $250,000. last week 9 homes at median price of $320,710.
VA financing was used to close on 11 homes at median price of $387,000, last week 9 homes at median price of $300,500.
Homes that were at least 2,000 square feet or more closed on 59 at median price of $394,990, last week 71 homes at median price of $404,000.
Minimum price for 2,000 or more square feet this week closed at $$185,300, last week $280,000. What a difference a week makes!
This gives you an idea of pricing in the Fox Valley area, and what type of financing is mostly accepted by the seller at this time. Every seller is different, with different circumstances. It is best to find out what they are looking for to get your offer accepted.
Contracts accepted this week
Contracts accepted this week are slightly up. 178 this week compared to 163 the previous week.
Look at the communities seller’s accepted the most contracts:
Auroro-24 Naperville-22
Plainfield-22 St Charles-12
Winfield-10 Yorkville-15
1 short sale was accepted by a seller in Minooka this week. 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. 1 with a kick-out clause of 72 hours and 1 with 48 hours.
Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours and 1 with 48 hours.
2022 by the month and a look back at 2021 and 2020.
2022
Month New Closed Contracts accepted
January 422 492 623
2021
January 543 649 829
2020
January 1105 566 858
Can you imagine if we had 1105 new listings this year? Our buyer’s would be in heaven!
Check back with us every Saturday for the real estate market update. At the end of each month we will look back at the previous 2 years so you have something to compare to.
You can see why prices are increasing the way they are with a market that is this tight with homes on the market.
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 to see what your home is worth in today’s market. You will be provided with a net proceeds that shows you the expenses to sell and what you might walk away with. 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 patience is needed. Plan ahead of when you need to move. Get all your financial information together and get it to a loan officer to get pre approved. Without this step done you will lose out on a home by trying to do it when you find one. Keep updating it every 30 days to make sure it is current.
Resources:
Types of loans and the process
Check with your loan officer for the current rates they are offering with your credit score. They will help you if you need to improve it.
All data used is from our MLS system MRED, LLC.
Fox Valley home prices January 29 2022. Have an amazing week!
Kristine Heiman, SFR, SRS, AHWD, C2EX
Designated Managing Broker
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101
