Fox Valley home prices May 28

Fox Valley Home Prices April 23

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.

Fox Valley home prices May 28

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

Aurora-New 33 $129,900-$569,000

             Closed-44 $130,000-$795,000

Bolingbrook-New 21 $199,900-$799,900

                    Closed-17 $221,000-$653,774

Geneva-New 10 $439,900-$1,898,000

             Closed-9 $280,000-$835,000

Naperville-New 52 $199,900-$2,500,000

                 Closed-42 $355,000-$1,420,000

Oswego-New 8 $230,000-$600,000

              Closed-12 $315,000-$581,900

Plainfield-New 34 $199,900-$774,900

                Closed-34 $275,000-$750,500

St Charles-New 8 $409,500-$2,299,999

                  Closed-23 $260,000-$1,350,000

West Chicago-New 10 $239,900-$1,395,000

                       Closed-4 $268,000-$530,000

Yorkville-New 7 $279,900-$625,000

               Closed-11 $275,000-$500,000

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.

Conv 052822
Conventional financing used for week ending May 28

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.

Cash 052822
Cash used to close for week ending May 28

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.

FHA 052822
FHA financing used to close for week ending May 28

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.

VA 052822
VA financing used to close for week ending May 28

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.

2000 SF or more 052822
Homes closed with 2,000 square feet or more for week ending May 28

Contracts accepted this week

Contract accepted this week were consistent.  275 this week compared to 278 the previous week.

Fox Valley home prices May 28-Contracts accepted this week

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

Aurora-42                         Bolingbrook-26

Geneva-12                          Naperville-55

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

2022

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

2021

January             543        649                829

February           561         604                778

March               993       1099               1455

April                1006        926               1387

May                 1088       1288               1289

Totals        4191     4566         5738

2020

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.

Resources

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.

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.

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.

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

Search for a home today!

Kriss New profile for FB 123121

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