Fox Valley Market Update August 31 2019

Fox Valley Market Update August 31 2019

Fox Valley market update August 31 2019.  New listings of single family homes were consistent this week.  290 this week compared to 292 the week before.  We love consistency!  That is even with a holiday coming up.  Usually the week leading up to a holiday is a little slower than normal.

2019 so far by the month:

  • January-878
  • February-1,032
  • March-1,731
  • April-1,594
  • May-2,004
  • June-1,643
  • July-1,423
  • August-1,583

          Total-11,890     May was the month with the most new listings of single family homes so far.

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

Aurora-New 35$129,900-$565,000

            Closed-37 $89,900-$425,000

Batavia-New 9 $172,500-$550,000

             Closed-10 $247,500-$673,299

Bolingbrook-New 19 $176,900-$484,256

                    Closed-23 $125,501-$390,000

Geneva-New 12 $330,000-$2,800,000

             Closed-10 $295,000-$533,000

Montgomery-New 18 $148,899-$297,990

                     Closed-10 $100,000-$308,000

Naperville-New 54 $278,500-$1,499,000

                 Closed-57 $225,000-$2,350,000

Oswego-New 19 $149,900-$724,000

              Closed-15 $168,000-$380,000

Plainfield-New 41 $185,000-$575,000

                Closed-29 $157,374-$406,000

St Charles/Campton Hills-New 25 $234,500-$1,995,000

                                        Closed-25 $165,000-$1,262,500

West Chicago-New 4 $265,000-$430,000

                      Closed-12 $146,500-$347,000

Yorkville-New 12 $154,900-$439,934

              Closed-14 $150,000-$470,946

Closed listings of single family homes were slightly higher this week. 292 this week compared to 221 the week before.    This was not a typical month.  Usually the end of the month you see the most closings.  The first week there were 341 closings but most of them were the end of July closings in the first part of that week and ending on August 3rd.  The 3rd week ending on August 17th was the next highest with 255.   They were trying to close before the first day of school starting.

Closings by the month in 2019:

  • January-407
  • February-465
  • March-915
  • April-790
  • May-1,391
  • June-1,253
  • July-1,029
  • August-1,403

          Total-7,653     August was slightly higher than May so far this year.  The school year calendar was the driver for this years activity. 

Contracts accepted this week

Fox Valley Market Update August 31 2019-Contracts accepted this week

Contracts accepted this week on single family homes was slightly lower this week.  227 this week compared to 234 the week before.  Not too bad for the hustle of the kids getting back to school and Labor Day coming up.

Contracts accepted so far by the month for 2019:

  • January-608
  • February-832
  • March-1,375
  • April-1,307
  • May-1,665
  • June-1,218
  • July-1,090
  • August-1,211

          Total-9,306    May so far is the busiest month for contracts accepted by sellers.

You are probably wondering why I am keeping track of when contracts get accepted but I do think it is important.  When you look back at the month with the most listings you see that it makes sense.  March was the next highest month for new listings and it is also the next highest month for contracts accepted.  Buyers had more choice.

Look at the communities this week that sellers accepted the most contracts:

Aurora-43                                     Batavia-11                                    Bolingbrook-15

Montgomery-11                            Naperville-32                                Plainfield-34

St Charles/Campton Hills-19

Short sales accepted this week still remain low.  3 this week compared to 1 the week before.  1 each in Naperville, St Charles/Campton Hills and Yorkville.

Sellers accepted contracts this week that are contingent on buyer closing on their current home.  3 with a kick-out clause of 72 hours, 5 with 48 hours and 2 with 24 hours.

Contracts were also accepted by sellers that are contingent on the buyer selling and closing on their current home.  5 with a kick-out clause of 72 hours, 4 with 48 hours and 1 with 24 hours.

Contact us

Call us at 630-503-6555 with your real estate questions.  Our goal is your goal.  We will work hard to meet your goals whether buying or selling a home.  We will guide you through the process and make recommendations for real estate attorneys, loan officers and home inspectors.

Provide you with a net proceeds that shows you the expenses to sell a home so you can make a good decision if it is the right time for you.  Let you know what you need to do to get your home market ready.  If you do not want to make the updates we can price it accordingly.

Resources to check out:

Fox Valley market update August 31 2019.  Have a great week and a fantastic Labor Day weekend!

Kristine Heiman, Managing Broker

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