Fox Valley home prices May 28
Fox Valley home prices May 28. We remember and honor the men and woman who gave their lives in service to our country this Memorial Day.
It also marks the beginning of summer for most people.
New listings this week were down. 243 this week compared to 307 the previous week.
Closed listings were up. 252 this week compared to 218 the previous week.
Take a look at the communities with the most activity this week:
Aurora-New 33 $129,900-$569,000
Bolingbrook-New 21 $199,900-$799,900
Geneva-New 10 $439,900-$1,898,000
Naperville-New 52 $199,900-$2,500,000
Oswego-New 8 $230,000-$600,000
Plainfield-New 34 $199,900-$774,900
St Charles-New 8 $409,500-$2,299,999
West Chicago-New 10 $239,900-$1,395,000
Yorkville-New 7 $279,900-$625,000
Financing used, median prices and 2,000 SF or more
The median list price this week $399,999, last week $425,000
Closed median price this week $410,000, last week $405,000
Conventional financing was used to close 194 homes at a median price of $427,550 with 30 days average market time, last week 153 homes at $435,000 with 13 days average market time.
Cash was used to close on 35 homes this week at a median price of $400,000 with 26 days average market time, last week 36 homes at median price of $405,000 with 15 days average market time.
FHA financing was used to close on 17 homes with a median price of $328,000 with 12 days average market time, last week 18 homes at a median price of $335,000 with 21 days average market time.
VA financing was used to close 6 homes at a median price of $390,000 with 6 days average market time, last week 10 homes at median price of $407,500 with 7 days average market time.
Buyers closed on 157 homes that were at least 2,000 square feet or more this week with a median price of $500,000 with 29 days average market time, last week 152 homes with a median price of $466,000 with 14 days average market time. Minimum price this week $255,000, last week $237,000.
Contracts accepted this week
Contract accepted this week were consistent. 275 this week compared to 278 the previous week.
Look at the communities seller’s accepted the most contracts this week:
Plainfield-33 St Charles-23
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, 5 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. 3 with a kick-out clause of 72 hours and 1 with 48 hours.
The median price of homes that went under contract this week was $399,900 with 17 days average market time, last week median price $392,500 with 18 days average market time.
2022 by the month and a look back at 2021 and 2020
Month New Closed Contracts accepted
January 422 492 623
February 523 520 724
March 734 904 890
April 1168 966 1334
May 1101 1143 1106
Totals 3948 4025 4377
January 543 649 829
February 561 604 778
March 993 1099 1455
April 1006 926 1387
May 1088 1288 1289
Totals 4191 4566 5738
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
April 648 786 775
May 1352 1010 1444
Totals 5558 3598 5180
2020 had the most new listings but the least closed. You can see how tight the market is this year. That is why prices have increased so much. Fewer new listings to choose from.
Check back with us every Saturday for the real estate market update for the Fox Valley area in Illinois.
Everything you see darker and underlined click on it and it will take you to the site for the information. If you are looking for information not listed here let us know and we will 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 rate you will be offered. It depends on your credit score what interest rate you will get. If you need help to improve your score talk to them. They will help you.
Request a home valuation if you are wanting to sell your home. Give us a little information about your home and what you have recently updated. We will let you know what it is worth in today’s market. You will also be shown and estimate of expenses to sell. This will be updated when an offer comes in and we know all the terms.
Thinking about buying a home this year? You need to contact a loan officer and get them all your financial information and apply for the loan so they can put you through underwriting and get approved subject to finding the home, appraisal and title. Taking this step will help you when you write an offer especially if there are other offers you are competing against. You will also not have to worry about last minute things coming up that need to be cleared up at the last minute.
You can sign-up for email alerts with your criteria and you will be emailed as soon as a property hits the market so you don’t miss anything.
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.
We can make recommendations for loan officers, real estate attorneys and home inspectors.
All data provided was from our MLS. MRED, LLC.
It is constantly updated.
Fox Valley home prices May 28. 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