Fox Valley home prices May 14
Fox Valley home prices May 14. New listings were up significantly. 296 this week compared to 255 the previous week.
Closed listings this week were down. 182 this week compared to 241 the previous week.
Take a look at the communities with the most activity this week:
Aurora-New 40 $135,000-$799,900
Batavia-New 13 $220,000-$1,795,000
Bolingbrook-New 23 $169,900-$650,000
Geneva-New 12 $282,500-$779,900
Naperville-New 63 $339,800-$2,350,000
Oswego-New 16 $225,000-$1,390,000
Plainfield-New 32 $189,900-$1,049,900
St Charles-New 26 $135,000-$889,000
Yorkville-New 11 $299,900-$889,000
Financing used, median prices and 2,000 SF or more
Median list price of single family homes this week $415,000, last week $414,450.
Closed median price this week $395,000, last week $400,000
I forgot to print this page and had to go back in to do it and the number changed by 1 for closed homes.
Conventional financing was used to close on 124 homes this week, with a median price of $425,000, and 23 days average market time. Last week 178 homes at median price of $425,750, and 24 days average market time.
Cash was used to close on 24 homes at median price of $402,500, and 17 days average market time. Last week 32 homes at median price of $390,500, and 18 days average market time.
FHA financing was used to close on 25 homes at median price of $300,000, and 18 days average market time. Last week 25 homes at median price of $255,000, and 24 days average market time.
VA financing was used to close on 8 homes at median price of $346,600, and 66 days average market time. Last week 5 homes at median price of $590,000, and 18 days average market time.
Homes that were at least 2,000 square feet or more closed on 111 this week at median price of $470,000, and 22 days average market time. Last week 144 homes at median price $496,250, and 31 days average market time. The minimum price for this week $192,000, last week $200,000.
Contracts accepted this week
Contracts accepted this week were down. 259 this week compared to 272 the previous week.
Look at the communities seller’s accepted the most contracts:
One short sale was accepted by a seller this week. It was in Bolingbrook. Now it 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. 1 with a kick-out clause of 72 hours, 5 with 48 hours, and 1 with 24 hours.
No contracts were accepted this week that were contingent on the buyer selling and closing on their current home.
Median price that went under contract this week $399,900, and 22 average market time. Last week was the same. Median price $399,900, and average market time 22 days.
2022 by the month
Month New Closed Contracts accepted
January 422 492 623
February 523 520 724
March 734 904 890
April 551 423 531
Totals 3,398 3,305 4,102
Check back with us every Saturday for the real estate market update for the Fox Valley area in Illinois. At the end of each month we will also show you 2021 and 2020 so you can compare and see how this year is doing.
It is time to keep an eye on how many new listings versus closed for the month. We are starting to see more price changes.
You can click on anything that is underlined here to go to the site for the information. If there is other information that you are looking for please let us know so we can 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 they will be offering you. It depends on your credit score. If you need to improve your score they can help you.
Some lenders are offering to put you through underwriting when you start the process of wanting to buy a home. Get then all your financial information. This takes out all the guess work so you and a seller know that you are approved for a loan up to a certain price. If the home inspection goes well and the appraisal comes in at the contract price you are set to go and can close soon. Home inspections are not cheap. Why not get approved so you don’t have to worry that you are spending money on it when you don’t know if you will get approved.
Request a home valuation to see what your home is worth in today’s market. Tell us a little bit about your home and what has recently been updated. We will provide you with a net proceeds that shows you an estimate of what it will cost to sell your home. This will be updated when an offer comes in and we know all the terms.
You can set up an email alert so you will receive listings as soon as they hit 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 officer, real estate attorney or home inspectors just let us know. We will provide you with a few to contact and you can decide who you would like to work with.
All data used is from our MLS. MRED, LLC.
Fox Valley home prices May 14. 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