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
Bolingbrook-New 13 $229,900-$875,000
Geneva-New 14 $269,900-$950,000
Naperville-New 45 $389,000-$1,349,990
Plainfield-New 18 $200,000-$1,250,000
St Charles-New 12 $149,900-$765,000
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.
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.
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.
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.
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.
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.
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:
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.
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.
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.
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.
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