Fox Valley home prices March 19 2022

Fox Valley home prices March 19 2022

Fox Valley home prices March 19 2022.  Every Saturday we take a look at what happened for the week in the real estate market in Kane & Kendall County areas of Illinois.  We highlight the communities with the most activity and the price ranges, median prices, financing used, 2022 by the month and which communities seller’s accepted the most contracts.  If there is other information you would like us to include, please let us know.

New listing this week on single family homes were almost exactly the same as the week before.  185 this week compared to 184 the previous week.

Closed listings this week increased.  176 this week compared to 150 the previous week.  They should increase as we get closer to the end of the month.

Take a look at the communities with the most activity this week:

Aurora-New 27 $157,000-$599,000

            Closed-21 $175,000-$695,000

Bolingbrook-New 13 $229,900-$875,000

                    Closed-13 $200,000-$660,000

Geneva-New 14 $269,900-$950,000

             Closed-7 $340,000-$950,000

Naperville-New 45 $389,000-$1,349,990

                 Closed-30 $280,000-$2,524,000

Plainfield-New 18 $200,000-$1,250,000

                Closed-17 $286,500-$532,450

St Charles-New 12 $149,900-$765,000

                  Closed-10 $199,900-$1,550,000

Financing used, median prices and 2,000 square feet or more

The median list price of a single family home this week was $389,950, last week $383,675.  Median closed price was $372,250 this week, last week $383,000.  Average market time this week was 10 days with 39 days to close, the week before average 14 days active with 39 days to close.

Stats 031922
Stats for week ending March 19, 2022

Conventional financing was used to close on 119 single family homes with a median price of $395,000 with 42 days average market time, last week 111 single family homes with a median price of $390,000 with 30 days average market time.

CONV 031922
Conventional financing used to close for week ending March 19, 2022

Cash was used to close on 24 homes this week with a median price of $385,000 and 32 days average market time, last week 16 homes with median price of $373,500 with 89 days average market time.

Cash 031922
Cash used to close for week ending March 19, 2022

FHA financing was used to close on 24 homes this week with a median price of $287,500 with 26 days average market time, last week 20 homes with median price of $327,500 with 47 days average market time.

FHA 031922
FHA financing used to close week ending March 19, 2022

VA financing was used to close on 9 homes with median price of $419,900 with 66 days average market time, last week 3 homes with median price of $500,000 with 30 days average market time.

VA 031922
VA financing used to close for week ending March 19, 2022

People looking for at least 2,000 square feet or more closed on 100 homes at median price of $451,750 this week with 50 average days on market, last week 89 homes with median price of $450,000 with 38 average days on market.  Minimum price this week was $175,000, last week $192,000.

2000 SF or more 031922
2,000 SF or more closed for week ending March 19, 2022

Contracts accepted this week

Fox Valley home prices March 19 2022-Contracts accepted this week

Contracts accepted by seller’s this week increased.  237 this week compared to 218 the previous week.

Look at the communities seller’s accepted the most contracts:

Aurora-33                      Bolingbrook-11

Geneva-10                       Naperville-47

Oswego-11                       Plainfield-35

St Charles-16                  Yorkville-10

2 short sales were accepted by seller’s this week.  1 each in Plainfield and West Chicago.  Now they 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. 2 with a kick-out clause of 72 hours, 3 with 48 hours and 1 with 24 hours.

Also, a seller accepted a contract that is contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 48 hours.

24 days was the average market time for the homes that seller’s accepted a contract this week with a median price of $387,000, last week 27 days average market time with median price of $394,750.

Contingent Stats 031922
Stats for contingent homes week ending March 19, 2022

2022 by the month

Month        New   Closed   Contracts accepted

January          422         492               623

February        523         520               724

March            566         733                668

Totals       1511    1745         2015

Check back with us every Saturday for the real estate update.  At the end of each month we will take a look back at 2021 and 2020 so you can compare how this year is going.

Contact us

Call us at 63-503-6555 with all of 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 if you are thinking about selling.  Tell us a little bit about your home and what has been recently updated.  We will let you know what it might sell for and give you an estimate of expenses to sell.  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 a home this year get in touch with a loan officer..  Get them all your financial information so they can run you through underwriting and get you conditionally approved.  You need to take this extra step if you need to get financing.  As you can see above conventional financing is the one seller’s are most willing to accept at this time.

It is a great time to sell and can be frustrating to be a buyer right now.  Persistent, patience and putting your best foot forward will help you.

Resources

Types of loans and the process

VA loans and the requirements

Current interest rates

Down payment assistance

IHDA programs

Click on these links above for some good information.  Interest rates depend on your credit score so check with your lender to see what they will offer you.  They can also help you increase your credit score.

All data provided is from our MLS MRED, LLC.

You can go to my facebook page Best Homes Fox Valley to “shop now” or sign up for email alerts.

Fox Valley home prices March 19 2022.  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

Search for a home today!

Kriss New profile for FB 123121

 

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