Fox Valley Market Update September 7 2019
Fox Valley market update September 7 2019. New listings this week were slightly up. 313 new listings of single family homes this week compared to 290 the week before. Now that we are past the holiday and school starting we can get back to normal.
2019 new listings of single family homes by the month:
Closed listings of single family homes were down this week. 180 this week compared to 292 the week before. With the holiday, a short week and the beginning of the month this is to be expected. It should go up from here.
Closed listings for 2019 by the month:
Take a look at the communities with the most activity this week:
Aurora-New 40 $115,000-$500,000
Batavia-New 14 $209,900-$525,000
Bolingbrook-New 22 $179,900-$500,000
Geneva-New 23 $149,000-$1,249,000
Naperville-New 62 $305,000-$4,000,000
Oswego-New 24 $229,900-$475,000
Plainfield-New 40 $169,900-$549,900
St Charles/Campton Hills-New 18 $163,500-$1,199,999
West Chicago-New 12 $179,900-$499,900
Yorkville-New 13 $180,000-$469,500
Contracts accepted this week
Contracts accepted this week on single family homes was slightly down this week. 211 this week compared to 227 the week before. This should go up next week since we are now past the holiday and a short week. Keep in mind that not all contracts accepted close. They need to get past home inspection, attorney review and the loan approval. So things can happen during that process.
Contracts accepted for 2019 by the month of single family homes:
Now take a look at the communities this week that sellers accepted the most contracts on single family homes:
Aurora-33 Bolingbrook-13 Naperville-34
Oswego-10 Plainfield-28 St Charles/Campton Hills-16
Short sales still remain low this week. 1 this week compared to 3 the week before. The 1 was in Bolingbrook this week.
Sellers accepted contracts this week that are contingent on the buyer closing on their current home. 6 with a kick-out clause of 72 hours, 2 with 48 hours and also 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 and 1 with 48 hours.
Call us with your real estate questions at 630-503-6555. Our goal is your goal. Whether you are buying, selling or both we will work hard to meet your goals. We will let you know what you need to do to get your home ready for market. Provide you with a net proceeds that shows you the expenses to sell so you know where you are at.
If you are thinking about buying you need to talk to a loan officer first to get pre-qualified so you know what type of loan will work for you and the price range. What type of loan you choose will determine the condition the home must be in. If you find a home that needs repairs and the seller is not willing to do them and you have the money you can set up an escrow account if it is under $5,000 for repairs. If it is over that amount you will need to get pre-qualified for a loan that will allow you to make the repairs. This is a different kind of approval. Separate from the normal approval. We can talk to you more about this or your loan officer can explain it to you.
It is still a great time to sell or buy so get in touch with us so we can get you started.
Check out some resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some communities
- School ratings
Fox Valley market update September 7 2019. Have a great week!
Kristine Heiman, Managing Broker
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