Fox Valley Real Estate Market Update Week 36

Fox Valley Real Estate Market Update Week 36-Cover

Fox Valley real estate market update week 36.  New listings of single family homes were up.  239 this week compared to 204 the week before.  Inventory o f homes continues to be a challenge.  Now that school is back in session there was a slow down.  Hopefully now things will get back to normal and more listings will come on the market.

Closed listings of single family homes were also down.  205 this week compared to 387 the week before.  This is to be expected at the beginning of the month.  It will increase as we head into the end of the month when most buyers want to close.

Fox Valley Real Estate Market Update Week 36

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

Aurora-New 31 $89,900-$485,000

             Closed-37 $164,000-$682,500

Batavia-New 12 $170,000-$579,000

             Closed-7 $250,000-$415,000

Bolingbrook-New 17 $219,000-$455,000

                    Closed-19 $240,000-$495,000

Geneva-New 9 $298,000-$600,000

             Closed-13 $205,000-$635,500

Montgomery-New 11 $164,900-$329,900

                     Closed-8 $122,000-$316,000

Naperville-New 46 $249,000-$2,490,000

                  Closed-28 $280,000-$1,470,000

Oswego-New 12 $255,000-$499,900

              Closed-8 $305,000-$675,000

Plainfield-New 26 $219,900-$799,000

                 Closed-30 $250,000-$575,000

St Charles-New 18 $259,900-$1,895,000

                  Closed-14 $190,000-$2,400,000

Yorkville-New 11 $259,900-$949,000

                Closed-6 $260,000-$340,000

You can see the other communities by clicking on the picture above.

Financing, median price and 2,000 or more square feet

Median list price this week $350,000, last week also $350,000.  Closed median price this week $340,000, last week $345,000.  This is the second week with a decrease.

Fox Valley Real Estate Market Update Week 36-Stats 091121
Median list and closed price this week

 

 

Out of 205 closed single family homes 161 of them used Conventional financing.  21 of them were Cash.

Fox Valley Real Estate Market Update Week 36-Conventional and Cash 091121
Conventional and Cash

20 of the closed single family homes chose FHA financing, and 3 chose VA financing.

Fox Valley Real Estate Market Update Week 36-FHA and VA 091121
FHA and VA financing

127 of them were 2,000 square feet or more this week with a median closed price of $410,000.  Minimum closed price was $191,000.  So if you are looking for a home with this square feet or more, this is the price range for this week.

Fox Valley Real Estate Market Update Week 36-2000 or more sf 091121
2,000 or more square feet

Contracts accepted this week

Contracts accepted this week on single family homes was down.  207 this week compared to 251 the week before.  buyers are still out there looking but they are having a hard time finding what they are looking for with the inventory so low.

Fox Valley Real Estate Market Update Week 36-Contracts accepted this week

Look at the communities that seller’s accepted the most contracts this week:

Aurora-32                                  Bolingbrook-13

Montgomery-13                          Naperville-34

Oswego-10                                 Plainfield-28

St Charles-13

There was 1 short sales accepted this week and it was in Warrenville.  Now it will be submitted to the lender to see if they will also accept.

Seller’s accepted contracts that are contingent on the buyer closing on their current home.  2 with a kick-out clause of 72 hours, 7 with 48 hours, and 3 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home.  2 with a kick-out clause of 72 hours and 5 with 48 hours.

2021 by the month

Month        New     Closed     Contracts accepted

January          543            649                    829

February        561             604                   778

March            993            1099                 1455

April             1006             926                 1387

May              1088            1288                 1289

June             1450            1686                 1671

July              1118             1182                  1210

August          1109            1203                  1170

September    443              592                   458

Totals          8311            9229                10247

 June was the best month so far for closings.  Buyer’s could get moved in and enjoy the summer in their new home.  Now would be a good time to get moved in before winter and the holidays.  Homes continue to sell all year.

Check back with us every Saturday.  At the end of the month we compare this year to 2020 and 2019 so you can see how things are going.

Contact us

Call us at 630-503-6555 with all your real estate questions.  Your goal is our goal.  We will do everything we can to help  you reach your goal.

Request a home valuation if you are thinking about selling your home.  Tell us a little bit about your home and what has been recently updated.  We will provide you with a net proceeds that shows you the expenses to sell.  This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Are you thinking about buying a home?  The first thing you need to do is get all your financial information together and contact a loan officer.  You will need to email or drop off copies of all your financial documents so they can put you through underwriting to get pre approved.  Just calling them and telling them your information is not good enough anymore.  You need to get pre approved so when you find a home you are ready to submit an offer.

When you start the process of looking at homes, you need to be ready to go look when a home hits the market.  If you wait for the weekend it might be gone already.

Resources:

If you need recommendations for loan officer’s, real estate attorney’s, and home inspector’s we would be happy to provide you with a few of each to contact.  You can decide who you want to work with.

All data used is from our MLS MRED, LLC.

As we look back on 20 years since 9/11/01, take a moment to reflect on all the lives lost that day.  We will never forget!

Fox Valley real estate market update week 36.  Have a great week!

Fox Valley real estate market update week 36-Kristine Heiman Managing BrokerKristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

 

 

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