Fox Valley Market Update July 20 2019

Fox Valley market update July 2019.  New listings of single family homes were slightly down this week.  383 this week compared to 407 the week before.  Less than a percent nothing to worry about.

2019 new listings by the month:

• January-878
• February-1,032
• March-1,731′
• April-1,594
• May-2,004
• June-1,643
• July so far-1,077

                           9,959 Total

Closed listings were also slightly down.  253 this week compared to 266 the week before. They should increase as we get closer to the end of the month.

Look at the closings so far by the month for 2019:

• January- 407
• February-465
• March-915
• April-790
• May- 1,391
• June-1,253
• July so far-776

                          5,997 Total

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

Aurora-New 39 $129,900-$499,900                                          Closed-31 $76,000-$384,500

Batavia-New 10 $194,000-$905,000                                         Closed-3 $263,000-$438,000

Bolingbrook-New 32 $174,900-$749,000                                 Closed-16 $167,000-$400,000

Geneva-New 15 $245,000-$614,900                                        Closed-18 $220,000-$799,000

Montgomery-New 13 $174,999-$331,620                                Closed-11 $161,000-$288,000

Naperville-New 81 $229,000-$1,299,990                                 Closed-45 $168,000-$2,050,000

North Aurora-New 10 $182,500-$438,900                               Closed-2 $322,500-$396,400

Oswego-New 22 $189,900-$698,000                                        Closed-11 $202,500-$837,500

Plainfield-New 51 $129,900-$710,000                                      Closed-30 $147,500-$457,500

St Charles/Campton Hills-New 20 $234,900-$875,000             Closed-23 $190,000-$768,894

Sycamore-New 12 $152,000-$1,200,000                                  Closed-5 $110,000-$295,000

West Chicago New 12 $109,990-$499,900                                Closed-7 $207,000-$440,000

Yorkville-New 19 $174,900-$529,700                                        Closed-14 $183,000-$570,000

Contracts accepted this week

Contracts accepted this week were slightly up.  284 this week compared to 252 the week before.  When a home is in good condition and priced right it will sell.  Last week we had an increase in new listings of single family homes so you see the increase in contracts accepted.  Not everyone is willing to fix up a home after they move in.  So many people today are too busy so they want to move in and start living without having to hire someone to come in and update.

Contracts accepted in 2019 so far by the month:

• January-608
• February-832
• March-1,375
• April-1,307
• May-1,665
• June-1,218
• July so far 831

                         7,836 Total

Not all homes that receive a contract end up closing. Some find out during the home inspection that there are issues that the buyer and seller were not able to negotiate something that they can agree to.  Some do not end up getting approved for a loan. There might be something that comes up on their credit that can’t be resolved soon enough.  These 2 things are the most important reasons why you need a good loan officer to work with and a good REALTOR to work through these issues along with a good real estate attorney.  Do not cut corners with such a big investment.

Here are the communities this week that sellers accepted the most contracts:

Aurora-52                                                                 Batavia-10                                                 Bolingbrook-23

Geneva-11                                                                Naperville-39                                              Oswego-10

Plainfield-46                                                             St Charles/Campton Hills-23                      Yorkville-10

Short sales accepted by seller’s were half of what they were the week before.  2 this week compared to 4 the week before.  1 each in Aurora and Geneva.  Now they will get submitted to the lender to see if they will also accept.

Sellers’ accepted contracts this week that are contingent on the buyer closing on their current home before purchasing.  8 with a kick-out clause of 72 hours, 11 with 48 hours and 2 with 24 hours.

Contracts were also accepted by seller’s that are contingent on the buyer selling and closing on their current home before purchasing. 2 with a kick-out clause of 72 hours and 6 with 48 hours.

Contact us

Call us at 630-503-6555 Jeffery Szymczak, Broker ext 104, Bobby Burson, Broker ext 105 or Kristine Heiman, Managing Broker ext 101.  Our goal is to negotiate price and terms that are best whether buying or selling a home.

Check out these resources:

• types of loans and the process
• VA loans and the requirements
• current interest rates
• down payment assistance
• Illinois home assistance and some communities
• school ratings

Let us know what questions you have.  We will guide you through the process.

Fox Valley market update July 20 2019.  Have a great week!

Kristine Heiman, Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555

besthomesfv@gmail.com

Check out this new way of searching for a home.  It will ask you to sign up.  It is free!