Fox Valley home prices November 13 2021
Fox Valley home prices November 13 2021. New listings of single family homes are way down. 139 this week compared to 183 the week before. Competition is way down right now if you are thinking about selling.
Closed single family homes this week were also down. 206 this week compared to 230 the week before. This is understandable since we are at the beginning of the month. Most buyers want to close at the end of the month.
Take a look at the communities with the most activity this week:
Aurora-New 24 $130,000-$745,000
Bolingbrook-New 7 $175,000-$500,000
Elburn-New 12 $210,000-$920,000
Naperville-New 14 $222,000-$935,000
Oswego-New 8 $235,000-$500,000
Plainfield-New 15 $229,900-$674,900
St Charles-New 16 $250,000-$1,299,000
We hope to see improvement this week with new homes coming on the market.
Financing used, median prices and 2,000 or more square feet
Median list price this week $340,000, last week $350,000.
Closed median price this week $338,749, last week $350,000.
Conventional closed single family homes 140 at a median price of $363,500, last week 149 at $370,000.
Cash closed 29 with a median price of $345,000, last week 22 at $290,000.
FHA closed 31 with a median price $273,000, last week 48 at $305,000.
VA closed 5 with a median price of $285,000, last week 11 at $271,000.
2,000 or more square feet closed 107 with a median price of $430,000, last week 129 at $420,890. Minimum price this week $139,000, last week $240,000. This gives you an idea of the prices if you are thinking about buying a home with a little bit more space.
Contracts accepted this week
Contracts accepted this week on single family homes was down. 227 this week compared to 278 the week before. Next week we hope to increase the new listings so there is more available to buyers.
Look at the communities seller’s accepted the most contracts:
St Charles-17 West Chicago-12
1 short sale was accepted by a seller this week. It was in Aurora. 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. 6 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 to the buyer selling and closing on their current home. 3 with a kick-out clause of 72 hours and 6 with 48 hours.
2021 by the month
Month New Closed Contracts accepted
January 543 649 829
February 561 604 778
March 993 1099 1455
April 1006 926 1387
May 1088 1288 1289
June 1450 1686 1671
July 1118 1182 1210
August 1109 1203 1170
September 1083 1411 1251
October 715 973 930
November 322 436 505
Totals 9988 11457 12475
June was the most active month so far this year across the board with new listings, closed and contracts accepted. All signs look like 2022 will be similar to this year. Prices might not go up as fast as they did this year. Until more homes are built or commercial property converted to residential purposes inventory will not increase. There just is not enough homes for the need.
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.
I have been attending our National Association of REALTORS® Conference virtually yesterday, today and tomorrow. They have had some great sessions. Talking about the economy, appraisals in today’s market and so much more. They are holding it out in San Diego. One of my favorite places.
Thinking about selling your home in the near future? Request a home valuation and give us a little information about your home and what has recently been updated. We will let you know what it is worth in today’s market. We will provide you with a net proceeds that shows you the expenses to sell. This will be updated when an offer comes in and we know all the terms. If you are planning on waiting until after the first of the year. We can update closer to when you are ready.
You might want to plan ahead if you are thinking about buying a home and are wanting to do that by a certain date. You will need to get all your financial information together and get it to a loan officer if you haven’t already done that. You need to get pre approved. They will give you a letter after they are completed that shows what type of loan and how much you qualify for. This will go with an offer when you find a home.
- Types of loans and the process
- VA loans and the requirements
- Down payment assistance
- Current interest rates
- IHDA programs
You will want to check with your loan officer for the rates that they are currently offering with your credit score.
Do you need recommendations for loan officers, real estate attorney, or home inspector? We can provide you a few of each so you can contact them and decide who you would like to work with.
All data is from our MLS MRED, LLC.
Fox Valley home prices November 13 2021. Have a great week!
Kristine Heiman, SFR, SRS, AHWD
Designated Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101