Fox Valley home prices July 2nd
Fox Valley home prices July 2nd. This week in addition to New listings, closed listings, contracts accepted, median prices we will also take a look back at 2021 and 2020 so you can see how this year is going. The majority of this week was in June so we will count it in with June totals.
New listings this week were down significantly. 207 this week compared to 295 the previous week.
Closed listings this week were up significantly. 344 this week compared to 224 the previous week. The end of the month is when most buyer’s want to close.
Take a look at the communities with the most activity this week:
Aurora-New 31 $125,000-$524,000
Closed-39 $140,000-$555,000
Bolingbrook-New 21 $235,000-$589,000
Closed-34 $170,000-$780,005
Geneva-New 9 $320,000-$610,000
Closed-15 $365,000-$690,000
Montgomery-New 3 $150,000-$399,900
Closed-13 $235,000-$370,000
Naperville-New 35 $369,000-$2,850,000
Closed-71 $325,000-$1,415,000
Oswego-New 17 $230,000-$482,990
Closed-17 $345,000-592,500
Plainfield-New 26 $235,000-$749,900
Closed-45 $211,000-$702,590
St Charles-New 11 $270,000-$2,899,900
Closed-28 201,800-$2,300,000
West Chicago-New 4 $300,000-1,150,000
Closed-13 $148,000-$565,000
Yorkville-New 15 $309,000-$629,000
Closed-7 $343,490-$530,000
You might want to look at communities with less activity.
Financing most used, median prices and 2,000 SF or more
Median list price this week $404,900, last week $425,000
Closed median price this week $420,000, last week $408,999
Conventional financing used to close 251 homes this week at median price $450,000 with 19 days average market time, last week 163 homes at median price $450,000 with 13 days average market time.
Cash was used to close on 46 homes at median price $399,000 with 17 days average market time, last week 24 homes at median price $405,999 with 16 days average market time.
FHA financing was used to close on 37 homes at median price $327,500 with 17 days average market time, last week 27 homes at median price $306,050 with 11 days average market time.
VA financing was used to close 7 homes at median price $428,000 with 17 days average market time, last week 9 homes at median price $365,000 with 14 days average market time.
Homes that were at least 2,000 square feet or more closed on 222 homes this week at median price $510,000 with 19 days average market time, last week 131 homes with median price $516,000 with 13 days average market time. Minimum price this week was $125,000, last week $175,000.
Contracts accepted this week
Contracts accepted this week were down. 225 this week compared to 256 the previous week.
Look at the communities seller’s accepted the most contracts this week:
Aurora-41 Batavia-10
Bolingbrook-18 Geneva-12
Naperville-28 Oswego-15
Plainfield-23 St Charles-21
No short sales were accepted by sellers this week.
Seller’s accepted contracts this week that were contingent on the buyer closing on their current home. 4 with a kick-out clause of 72 hours, 7 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. 2 with a kick-out clause of 72 hours and also 2 with 48 hours.
Median price of homes that went under contract this week $400,000 with 23 days average market time, last week $375,000 with 22 days average market time.
2022 by the month and a look back at 2021 and 2020
2022
Month New Closed Contracts accepted
January 422 492 623
February 523 520 724
March 734 904 890
April 1168 966 1334
May 1101 893 806
June 1295 1409 1234
Totals 5234 5184 5611
2021
January 543 649 829
February 561 604 778
March 993 1099 1455
April 1006 926 1387
May 1088 1288 1289
June 1450 1686 1671
Totals 5641 6252 7409
2020
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
April 648 786 775
May 1352 1010 1444
June 1232 908 1534
Totals 6790 4506 6714
2020 was the best year for New listings, and 2021 was best for closings. 2022 was the lowest for new listings. Inventory has steadily decreased each year. You can see why prices have increased the way they have.
Check back with us every Saturday for the Fox Valley area of Illinois real estate market update.
Resources
Everything that is bold and underlined click on so it will take you to the site for the information.
- 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 rate you will be offered. It depends on your credit score. They can help you if you need to work on it and bring it up.
Request a home valuation if you are thinking about selling your home. Tell us a little bit about your home and what has recently been updated. We will give you and estimate of what it will sell for in today’s market. Also, we will give you a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms.
If you are thinking about buying a home this year get all your financial information to a loan officer that will put you through underwriting and get you approved for a loan before you even start looking. Then you will know that you are looking at the right priced homes. You will be able to close quicker and the seller will be more comfortable about accepting your offer knowing that you have already gone through the process. You can sign up for email alerts so you don’t miss out on any homes that come 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.
All data provided today is from our MLS. MRED, LLC. It is continuously updated as agents upload their information.
Fox Valley home prices July 2nd. Have a happy and safe 4th of July!
Kristine Heiman, SFR, SRS, SRES, AHWD
Designated Managing Broker
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101
