Fox Valley home prices May 21

Fox Valley Home Prices April 23

Fox Valley home prices May 21.  We will take a look at what happened in the Fox Valley over the week.  New listings, Closed, median prices, financing most used, homes that went under contract, resources, and 2022 by the month.  No fluff.  Just the data that we hope will help you get to know the Fox Valley real estate market.

New listings were consistent.  307 this week compared to 296 the previous week.

Closed listings were up.  218 this week compared to 182 the previous week.

Fox Valley home prices May 21

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

Aurora-New 51 $165,900-$849,000

             Closed-33 $130,000-$875,000

Bolingbrook-New 31 $159,900-$731,096

                    Closed-13 $220,000-$855,000

Geneva-New 14 $250,000-$1,100,000

             Closed-7 $310,000-$560,000

Montgomery-New 10 $224,900-$369,900

                     Closed-6 $310,000-$385,000

Naperville-New 62 $319,000-$2,750,000

                 Closed-36 $355,000-$1,549,000

Oswego-New 9 $309,900-$1,250,000

              Closed-14 $322,000-$475,000

Plainfield-New 41 $220,000-$1,299,900

                Closed-29 $294,900-$682,500

St Charles-New 28 $279,900-$1,500,000

                  Closed-13 $175,000-$890,000

West Chicago-New 11 $199,900-$1,575,000

                       Closed-7 $225,000-$570,000

Yorkville-New 5 $254,500-$850,000

               Closed-11 $212,000-$575,000

If the communities you are looking at do not have the price range you are looking for, you might need to expand where you are looking.

We just highlighted the communities with the most activity.  Look at the picture above to see other communities that had lower activity.

Financing most used, median prices and 2,000 SF or more

Median list price this week $425,000, last week $415,000

Closed median price this week $405,000, last week $395,000

Stats 052122
Median list and closed price for week ending May 21

Conventional financing was used to close 153 homes this week with a median price of $435,000 and 13 days average market time., last week 124 at median price of $425,000 and 23 days average market time.

Conv 052122
Conventional financing used to close for week ending May 21

Cash was used to close on 36 homes this week with a median price of $405,000 and 15 days average market time, last week 24 homes at  a median price of $402,500 and 17 days average market time.

Cash 052122
Cash used to close for week ending May 21

FHA financing was used to close on 18 homes with a median price of $335,000 and 21 days average market time, last week 25 homes at median price of $300,000 and 18 days average market time.

FHA 052122
FHA financing used to close for week ending May 21

VA financing was used to close on 10 homes this week with a median price of $407,500 and 7 days average market time, last week 8 homes at median price of $346,600 and 66 days average market time.

VA 052122
VA financing used to close for week ending May 21

Homes that were at least 2,000 square feet or more closed on 152 homes at a median price of $466,000 and 14 days average market time, last week 11 homes at median price of $470,000 and 22 days average market time.  Minimum price for homes that are at least 2,000 square feet or more closed at $237,000, last week $192,000.

2000 SF or more 052122
Home that were 2,000 SF or more closed for week ending May 21

Contracts accepted this week

Contracts accepted this week are up.  278 this week compared to 259 the previous week.

Fox Valley home prices May 21-Contracts accepted this week

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

Aurora-43                             Bolingbrook-22

Geneva-10                              Naperville-52

Oswego-16                             Plainfield-35

St Charles-22

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.  4 each with a kick-out clause of 72, 48 and 24 hours.

Also, a seller accepted an a contract that is contingent on the buyer selling and closing on their current home.  It has a kick-out clause of 72 hours.

The median price of homes that went under contract this week $392,500 and 18 days average market time, last week median price was $399,900 and 22 days average market time.

Contingent Stats 052122

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                     858         641                  531

Totals          3705    3523           4102

Check back with us every Saturday for the real estate market update.  Next week will be the last full week of the month so we will also compare to 2021 and 2020 so you can see how this year is going.

Resources

Click on everything underlined to go to the site for more information.  If there is any information that you are looking for that is not listed let us know and we will point you in the right direction.

Talk to your loan officer to see what interest rate they will be offering you.  I depends on your credit score.  If you need to improve your score talk to them and they will tell you what to do.

As you can see above, the most common loan type seller’s are looking for right now is a Conventional loan. It helps to get familiar with the different types of loans.

Take the extra step and get all your financial information to a loan officer and have them put you through underwriting so you know how much you are approved for before looking at homes.  It will put you in a better position if you are up against other offers.  I think they should of been doing this all along.  It is hard to wait until a week before closing to find out you are approved.  Sometimes there is last minute things that come up and so late in the game are hard to resolve so your closing date gets moved.

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 an estimate of what it might sell for and show 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.

You can sign-up for email alerts.  Choose the area and criteria you are looking for and you will receive an email when something comes up.

Contact us

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.

All data provided is from our MLS.  MRED, LLC.  It is constantly updated throughout the day.

Fox Valley home prices May 21.  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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