Fox Valley home prices October 14th
Fox Valley home prices October 14th. No Indian summer in sight. Mostly mid 50’s and a lot of rain.
New listings are down. 128 this week compared to 191 the previous week.
Closed listings are also down. 115 this week compared to 152 the previous week.
Aurora -New 20 $169,900-$890,000
Batavia-New 10 $275,000-$899,900
Naperville-New 13 $450,000-$2,895,000
Plainfield-New 14 $299,900-$689,900
St Charles-New 10 $299,000-$1,799,000
Other communities had activity this week. Look at the photo above to see the price ranges in those communities.
Financing used, median prices, and 2,000 SF or more
Median list price this week $395,000, last week $409,900
Closed median price this week $385,000, last week $394,950.
Conventional financing used to close this week on 87 homes at median price $390,000 with 31 days average market time, last week 108 homes at median price $403,750 with 26 days average market time.
Cash was used to close on 18 homes this week at median price $377,500 with 37 days average market time, last week 17 homes at median price $415,000 with 26 days average market time.
FHA financing used to close on 6 homes this week at median price $374,500 with 25 days average market time, last week 19 homes at median price $305000 with 25 days average market time.
VA financing used to close on 4 homes this week at median price $370,000 with 19 days average market time, last week 6 homes at median price $473,530 with 14 days average market tine.
2,000 SF or more closed on 55 homes at median price $545,000 with 42 days average market time, last week 90 homes at median price $472,500 with 29 days average market time. Minimum price this week $310,000, last week $235,000.
Conventional financing continues to be the choice for seller’s to accept. We need to start looking for assumable mortgages for the lower interest rates. It might get some people moving if they knew they did not have to accept these higher rates. Yes, you can refinance, but by assuming a mortgage with a low rate you would not have to refinance at a later date.
Under contract this week
Homes under contract this week are down. 136 this week compared to 156 the previous week.
Plainfield-25 St Charles-10
No short sales were accepted by seller’s this week.
Seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 1 each with a kick-out clause of 48 hours and 24 hours.
Median price of homes under contract this week $389,950 with 37 days average market time, last week $399,900 with 41 days average market time.
2023 by the month
Month New Closed Under contract
January 483 326 470
February 630 526 789
March 555 558 726
April 710 617 755
May 735 603 816
June 1030 1059 926
July 765 745 805
August 869 988 915
September 684 621 623
October 319 267 292
Totals 6780 6310 7117
Things are starting to slow down as we head to the holidays. Check back with us every Saturday for the real estate market update for the Fox Valley area of Illinois. At the end of each month we will also take a look back at 2022 and 2021 so you have something to compare it to.
Resources to check out
Click on each bullet point or anything that is bold and underlined to take you to the site for the information.
- Types of loans and the process
- VA loans and the requirements
- Down payment assistance
- IHDA programs
- Request home valuation
- Sign-up for email alerts
- Search for a home anytime
If you are looking for a loan officer, real estate attorney, or a home inspector we can recommend a few that we have successfully worked with.
All data provided today is downloaded from our MLS, MRED, LLC. It changes throughout the day.
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal.
Fox Valley home prices October 14th. Have an awesome week!
Kristine Heiman, Designated Managing Broker
SFR, SRS, SRES, AHWD
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101