Fox Valley home prices June 11
Fox Valley home prices June 11. This is the first full week of June. We will go over new listings, closed and contracts accepted. What communities had the most activity, median prices and financing used. We will also take a look at 2022 by the month.
New listings this week were down. 243 this week compared to 279 the previous week.
Closed listings were also down. 256 this week compared to 306 the previous week.
Take a look at the communities with the most activity this week:
Aurora-New 32 $139,900-$1,230,000
Batavia-New 11 $255,000-$709,900
Bolingbrook-New 23 $120,000-$950,000
Geneva-New 9 $234,900-$899,000
Naperville-New 44 $329,500-$3,750,000
Oswego-New 14 $295,000-$520,000
Plainfield-New 34 $239,900-$1,045,000
St Charles-New 15 $275,000-$825,000
Yorkville-New 13 $179,500-$689,900
Financing most used, median prices and 2,000 SF or more
Median list price this week $399,000, last week $400,000
Closed median price this week $415,500, last week $410,000
Conventional financing was used for 184 homes with median price of $434,000 with 19 days average market time, last week 251 homes at median price $430,000 with 12 days average market time.
Cash was used to close on 35 homes with median price $402,500 with 18 days average market time, last week 18 homes at median price $391,250 with 13 days average market time.
FHA financing was used to close on 25 homes this week with a median price $320,000 with 34 days average market time, last week 19 homes with a median price $310,000 with 24 days average market time.
VA financing was used to close on 9 homes this week with a median price $437,180 with 14 days average market time, last week 15 homes with median price $383,000 with 51 days average market time.
Homes that are at least 2,000 square feet or more closed on 167 with a median price $497,600 with 25 days average market time, last week 193 homes with median price $480,000 with 16 days average market time. Minimum price this week $228,000, last week $155,000. What a difference a week makes.
Contracts accepted this week
Contracts accepted this week were up. 290 this week compared to 218 the previous week.
Look at the communities seller’s accepted the most contracts:
St Charles-17 Yorkville-11
No short sales were accepted by seller’s this week.
Seller’s accepted contracts that are contingent on the buyer closing on their current home. 3 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. 1 with a kick-out clause of 72 hours and 3 with 48 hours.
1 that we do not have information about how long the buyers have to waive contingences or drop out.
Median price under contract this week $379,950 with 31 days average market time, last week median price $399,450 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 1168 966 1334
May 1101 893 806
June 522 562 508
Totals 4470 4337 4885
It is still a tight market, but loosening up slightly. Prices are still rising.
Check back with us every Saturday for the real estate market update for the Fox Valley area of Illinois. At the end of each month we take a look back at 2021 and 2020 so you can see how the market is doing this year.
Click on everything that is darkened and underlined. It will take you to the site for the information. If there is any other information that you are looking for let us know and we will point you in the right direction.
- Types of loan 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 they will be offering you. It depends on your credit score. They can help you bring up your score. Just ask.
We can also recommend real estate attorney, home inspector and loan officers.
Request a home valuation and we will let you know what your home is worth in today’s market. Give us some information about your home and what has been recently updated.
If you are thinking about buying a home you need to get in touch with a loan officer and get them all your financial information so they can put you through underwriting and get approved for a loan so when you start looking you know that you will be able to go through with it and it also lets the seller know that you already did the work. It puts you in a better position to win.
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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. The data is constantly changing as agents upload the information throughout the day.
Fox Valley home prices June 11. 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