Fox Valley home prices June 4
Fox Valley home prices June 4. I am a day late getting this posted. All the information was downloaded yesterday though. It has been busy.
New listings of single family homes were up. 279 this week compared to 243 the previous week.
Closed listings were also up. 306 this week compared to 252 the previous week.
Take a look at the communities with the most activity this week:
Aurora-New 43 $179,900-$700,000
Batavia-New 12 $199,000-$676,108
Bolingbrook-New 16 $259,900-$495,900
Geneva-New 12 $229,000-$921,500
Naperville-New 54 $300,000-$1,895,000
Oswego-New 11 $264,000-$2,399,000
Plainfield-New 32 $220,000-$1,550,000
St Charles-New 25 $235,000-$1,000,000
West Chicago-New 11 $250,000-$1,500,000
Yorkville-New 12 $320,000-$520,000
Financing most used, median prices, and 2,000 SF or more
Median price this week $400,000, last week $399,999.
Closed median price this week $410,000, last week also $410,000
Conventional financing was used to close on 251 homes this week at a median price $430,000 with 12 days average market time, last week 194 homes at median price of $427,550 with 30 days average market time.
Cash was used to close on 18 homes this week at a median price of $391,250 with 13 days average market time, last week 17 homes at a median price of $328,000 with 12 days average market time.
FHA financing was used to close on 19 homes this week at a median price of $310,000 with 24 days average market time, last week 17 homes at median price of $328,000 with 12 days average market time.
VA financing used to close on 15 homes at a median price of $383,000 with 51 days average market time, last week 6 homes at median price of $390,000 with 6 days average market time.
Buyer’s looking for homes that are at least 2,000 square feet or more closed on 193 homes at a median price of $480,000 with 16 days average market time, last week 157 homes at a median price of $500,000 with 29 days average market time. The minimum price for a home that was at least 2,000 square feet or more was $155,000, last week $255,000.
Contracts accepted this week
Contracts accepted this week were down. 218 this week compared to 275 the previous week.
Look at the communities seller’s accepted the most contracts this week:
St Charles-14 Yorkville-10
No short sales went under contract 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 2 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 48 hours and 1 that we don’t know the time frame.
The median price of homes under contract this week is $399,450 with 20 days average market time, last week the median price was $399,900 with 17 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 279 306 218
Totals 4227 4081 4595
More new listings than closed is a good sign that things are changing slightly. Prices are still increasing and inventory is low, but we hope June continues to increase the amount of listings of homes for sale.
Check back with us every Saturday for the real estate market update. We are late this week but try not to be. At the end of each month we will take a look back at 2021 and 2020 so you can see how this year is going.
Everything that is bold and underlined you can click on and it will take you to the site for the information. If there is other information you are looking for not here please let us know and we will point you in the right direction.
- 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. If you need to bring up your score they can help you with that.
Request a home valuation if you are thinking about selling your home. Give is a little information about your home and what has been updated. Let us know the best way to get in touch with you and we will give you an estimate of what it is worth in today’s market. You will also get an estimate of expenses to sell. This will be updated when an offer comes in and we know all the details.
If you are wanting to buy a home you need to get in touch with a loan officer and get them all your financial information and have them put you through underwriting so you are approved for a loan. It is not enough to just get pre-approved right now. You will be up against multiple offers so you want to be in the best position to win.
You can sign-up for email alerts so you don’t miss out on anything coming on the market.
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.
If you need recommendations for loan officers, real estate attorney, or home inspector we can give you a few to contact and choose who you want to work with.
All data provided is from our MLS. MRED, LLC.
Fox Valley home prices June 4. 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