Fox Valley home prices March 30th
Fox Valley home prices March 30th. Cloudy and 61 right now. It is going to go from mid 40’s to upper 60’s in the next couple of weeks. Rain the next few days.
New listing this week are down. 125 this week compared to 171 the previous week.
Closed listings are up. 209 this week compared to 137 the previous week.
Aurora-New 9 $220,000-$450,000
Closed-20 $178,500-$866,590
Elburn-New 4 $427,500-$496,515
Closed-11 $168,000-$597,000
Elgin-New 24 $159,900-$649,900
Closed-27 $129,000-$750,000
Montgomery-New 3 $270,000-$449,900
Closed-10 $235,000-$420,000
Naperville-New 21 $489,900-$1,399,900
Closed-15 $426,000-$1,200,000
Plainfield-New 16 $279,900-$812,104
Closed-25 $270,000-$900,000
South Elgin-New 3 $400,000-$584,990
Closed-10 $320,000-$600,000
St Charles-New 5 $325,000-$825,000
Closed-13 $252,000-$1,475,000
Yorkville-New 5 $415,000-$499,900
Closed-11 $305,000-$560,801
This is the list of communities with most activity and their price ranges. Look at photo above for other communities and their price ranges.
Financing used, median prices and 2,000 SF or more
Median list price this week $435,000, last week $479,450.
Closed median price this week $415,000, last week $449,900
Conventional financing was used to close on 154 homes this week at median price $442,455 with 46 days average market time, last week 99 homes at median price $449,990 with 33 days average market time.
Cash was used to close on 30 homes this week at median price $369,950 with 61 days average market time, last week 24 homes at median price $532,495 with 36 days average market time.
FHA financing was used to close on 17 homes this week at median price $370,000 with 62 days average market time, last week 11 homes at median price $419,999 with 71 days average market time.
VA financing was used to close on 6 homes this week at median price $463,650 with 81 days average market time, last week 1 home at $630,000 with 5 days average market time.
2,000 SF or more closed on 127 homes this week at median price $499,886 with 59 days average market time, last week 91 homes at median price $525,000 with 43 days average market time. Minimum price this week $198,000, last week $240,000.
It used to be the loan officers automatically did a FHA approval for buyers. It allows buyers to qualify for more and their credit score can be lower. Now you better get qualified for Conventional if you do not have cash if you want to win the bid on the house you like.
March
Conventional Cash FHA VA
554 120 62 20
Under contract this week
Homes that went under contract are consistent. 213 this week compared to 215 the previous week.
Aurora-24 Batavia-11
Bolingbrook-18 Elgin-23
Naperville-20 Oswego-18
Plainfield-27 St Charles-14
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. 2 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.
Median price of homes that went under contract this week $449,900 with 32 days average market time, last week $450,000 with 33 days average market time.
2024 by the month and a look back at 2023 and 2022
2024
Month New Closed Under contract
January 576 523 599
February 637 416 691
March 674 612 792
Totals 1887 1551 2082
2023
January 483 326 470
February 630 526 789
March 555 558 726
Totals 1668 1410 1985
2022
January 422 492 623
February 523 520 724
March 734 904 890
Totals 1679 1916 2237
New listings are up this year, but closings are down. Do you think prices are the issue?
Check back with us every Saturday for the real estate update in the Fox Valley area of Illinois.
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Call us at 630-503-6555 with all your real estate questions. Your goal is our goal.
Information you might want to check out. Click on anything that is bold and underlined.
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All data provided today is from our MLS, MRED, LLC. It changes throughout the day.
Fox Valley home prices March 30th. Have an awesome week!
Kristine Heiman, Designated Managing Broker
SFR, SRS, SRES, AHWD
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101