Fox Valley home prices July 9th
Fox Valley home prices July 9th. We will update you on the prices, financing used, communities receiving the most contracts and show you 2022 by the month.
New listings this week are up. 257 this week compared to 207 the previous week.
Closed listings this week are way down. 175 this week compared to 344 the previous week.
Aurora-New 33 $174,900-$699,000
Batavia-New 5 $299,900-$1,395,000
Bolingbrook-New 26 $212,800-$850,000
Elburn-New 12 $334,900-$1,599,000
Geneva-New 14 $269,900-$1,050,000
Montgomery-New 13 $219,900-$410,000
Naperville-New 51 $299,900-$3,400,000
Plainfield-New 28 $244,900-$764,900
St Charles-New 13 $309,900-$1,199,000
Yorkville-New 13 $275,000-$525,000
Other communities had activity. You might want to check them out in the photo above.
Financing used, median prices and 2,000 SF or more
Median list price this week $415,000, last week $404,900
Closed median price this week $414,900, last week $420,000
Conventional financing was used to close on 120 homes this week with a median price $440,000 with 20 days average market time, last week 251 homes with median price $450,000 with 19 days average market time.
Cash was used to close on 24 homes with a median price $402,500 with 31 days average market time, last week 46 homes with median price $399,000 with 17 days average market time.
FHA financing was used to close on 22 homes with median price $325,000 with 22 days average market time, last week 37 homes at median price $327,500 with 17 days average market time.
VA financing was used to close on 8 homes at median price $407,500 with 8 days average market time, last week 7 homes at median price $428,000 with 17 days average market time.
Homes that were at least 2,000 square feet or more closed on 106 homes at median price $472,500 with 20 days average market time, last week 222 homes at median price $510,000 with 19 days average market time. Minimum price for 2,000 square feet or more this week $229,800, last week $125,000. What a difference a week makes!
Conventional financing continues to be the most accepted way seller’s are choosing which buyer’s to work with. The majority of homes closed this week were 2,000 square feet or more.
Contracts accepted this week
Contracts accepted this week were down. 190 this week compared to 225 the previous week.
These communities continue to be the most active communities.
No short sales were accepted by sellers this week.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 1 with a kick-out clause of 72 hours, 4 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 72 hours, 3 with 48 hours, and 1 with 24 hours.
Median price of homes that went under contract this week $375,000 with 28 days average market time, last week median price $400,000 with 23 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 1168 966 1334
May 1101 893 806
June 1295 1409 1234
July 257 175 190
Totals 5500 5359 5801
It is still a very tight market with new listings. Even with interest rates rising. Some will need to adjust the price of home they are looking at.
Check back with us every Saturday for the real estate market update. At the end of each month we will also take a look at 2021 and 2020 so you can compare the 3 years to see how this year is going.
We give you these resources every week. Click on anything that is bold and underlined to take you to the site for more information. If there is information that you are searching for not listed here please let us know and we will point you in the right direction.
- Loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IHDA programs
- Email alert sign-up
- Home valuation
- Search for a home today!
Check with your loan officer for the rate you will be offered. It depends on your credit score. If you need to work on your credit score they can help you with that.
If you click on the home valuation and give us information about your home and what has been recently update we can let you know what it might sell for in today’s market. We will also provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in so you can make a good decision.
Thinking about buying a home? Get all your financial information together and get it to a loan officer so they can run you through underwriting and get you approved for a loan subject to appraisal and title update. When you do this a seller will be confident that choosing your offer will be a good bet that it will close.
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 throughout the day as agents upload their new listings, price changes and contracts accepted.
Fox Valley home prices July 9th. Have an awesome week! Let us know how we can help you.
Kristine Heiman, AHWD, SRS, SRES, SFR
Designated Managing Broker
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101
630-742-7730 Cell Phone