Fox Valley Market Update July 6 2019
Fox Valley market update July 6 2019. New listings of single family homes was way down this week. 287 new listings this week compared to 365 the week before. It is a holiday week so this is to be expected. Things will get back to normal next week.
2019 new listings of single family homes by the month:
- July so far-287
Closed single family homes this week were also down. 236 closed this week compared to 330 the week before. This is also to be expected on a shorter week because of holiday and because it is the beginning of the month. Most buyer’s want to close at the end of the month.
Closed single family homes by the month for 2019:
- July so far-236
Take a look at the activity this week of single family homes:
Aurora-New 44 $79,000-$644,800 Closed-36 $90,000-$419,900
Bolingbrook-New 24 $119,900-$414,900 Closed-14 $154,000-$399,900
Geneva-New 13 $339,900-$795,000 Closed-7 $200,000-$665,000
Montgomery-New 12 $161,000-$285,900 Closed-19 $158,067-$320,000
Naperville-New 50 $215,000-$2,199,000 Closed-40 $190,000-$1,075,000
Oswego-New 11 $149,900-$849,000 Closed-13 $197,000-$379,000
Plainfield-New 39 $189,800-$675,000 Closed-27 $138,000-$424,900
St Charles/Campton Hills-New 22 $139,900-$1,499,000 Closed-22 $145,000-$588,000
Yorkville-New 15 $249,000-$449,900 Closed-5 $239,990-$405,000
Contracts accepted this week
Contracts accepted this week of single family homes was slightly up. 295 this week compared to 272 the week before. That is a good thing with a short week. Next week should be even better.
Look at the totals of contracts accepted for 2019 by the month:
- July so far-295
So far May is the month with the most activity all around. New listings, closed homes and contracts accepted. Not all contracts accepted end up closing. Some come back on the market after the home inspection that might have an issue the buyer and seller can not negotiate a resolution to the issue. Other ones the financing might not get approved. The majority of them do close though.
Just under 60% of the new listings that came on the market have closed. Slightly under 80% have gone under contract. The other 20% either need to make improvements, lower price or both. If you are not getting showings or they have slowed down you need to rethink price and condition.
Take a look at the communities that seller’s accepted the most contracts this week:
Aurora-41 Bolingbrook-24 Geneva-11
Naperville-49 North Aurora-13 Oswego-16
Plainfield-42 St Charles/Campton Hills-30 Yorkville-11
Short sales accepted by seller’s this week were also down. 2 this week compared to 5 the week before. 1 each in Plano and Yorkville.
Seller’s accepted contracts that are contingent on the buyer closing on their current home before purchasing. 8 with a kick-out clause of 72 hours, 12 with 48 hours and 3 with 24 hours.
Contracts were also accepted by seller’s that are contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours and 4 with 48 hours.
Give a call to answer all of your real estate questions 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 you are buying or selling a home.
Resources to check out:
- 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
Fox Valley market update July 6 2019. Have a great week!
Kristine Heiman, Managing Broker
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