Fox Valley Real Estate Market Update Week 39

Fox Valley Real Estate Market Update Week 39-Cover

Fox Valley real estate market update week 39.  New listings on single family homes are down.  205 this week compared to 233 the week before.  Housing continues to be a problem.  There just is not enough to meet the demand.  Prices will continue to rise until this gets resolved.

Closed single family homes were up.  338 this week compared to 232 the week before.  It is the end of the month so this is to be expected.

Fox Valley Real Estate Market Update Week 39

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

Aurora-New 36 $145,000-$770,000

             Closed-59 $90,000-$595,000

Batavia-New 3 $299,900-$1,000,000

             Closed-12 $131,000-$500,000

Bolingbrook-New 14 $240,000-$425,000

                    Closed-22 $217,500-$527,194

Geneva-New 10 $295,000-890,000

             Closed-13 $240,000-$1,050,000

Montgomery-New $209,000-$339,900

                     Closed-13 $175,000-$415,000

Naperville-New 30 $245,000-$10,500,000

                  Closed-44 $325,000-$785,000

Oswego-New 18 $219,000-$535,200

              Closed-15 $289,000-$665,000

Plainfield-New 25 $209,900-$650,000

                Closed-45 $271-$$1,200,000

the 271 is a mistake but I don’t know the correct number.  Someone must of entered it wrong.

St Charles-New 12 $189,000-$830,000

                  Closed-22 $207,000-$1,130,000

Sycamore-New 1 $367,000

                 Closed-12 $165,000-$355,000

West Chicago-New 6 $249,900-$435,000

                       Closed-11 $182,000-$685,000

Yorkville-New 9 $210,000-$535,000

               Closed-15 $270,000-$550,000

Click on the photo above to see other communities that have had activity.  

Financing, median prices and homes that are 2,000 square or more

Median list price this week is $349,315, last week $349,900

Closed median price this week was $340,000, last week $336,137.

Fox Valley Real Estate Market Update Week 39-Stats 100221

Single family homes that closed using Conventional financing this week 243, last week 163

Cash used to close this week 41, last week 25

Fox Valley Real Estate Market Update Week 39-Conventional and Cash

FHA used to closed this week 39, last week 37.

VA financing used to close this week 13, last week 4.

Fox Valley Real Estate Market Update Week 39-FHA and VA

Most seller’s are looking for Conventional financing.  FHA has had a hard time getting accepted. There are not as many people using VA in our area.

Single family homes that closed this week with 2,000 or more square feet 183, last week 131.  The median price this week was $415,000 with the minimum price of $90,000. Slightly less than half of the homes closed with less than 2,000 square feet in the Fox Valley area.

Fox Valley Real Estate Market Update Week 39-2000 or more SF

Contracts accepted this week

Contracts accepted on single family homes were down.  248 this week compared to 277 the week before. New listings staying in the 200’s is not helping.  Buyers need more to choose from.

Fox Valley Real Estate Market Update Week 39-Contracts accepted this week

Look at the communities with the most activity this week:

Aurora-54                        Bolingbrook-26

Geneva-13                         Naperville-29

Oswego-10                        Plainfield-24

St Charles-16                    Yorkville-13

No short sales were accepted by seller’s this week.

Seller’s accepted contracts that are contingent on the buyers closing on their current homes.  4 with a kick-out clause of 72 hours and 8 with 48 hours.

Also, seller’s accepted contracts that are contingent on the buyers selling and closing on their current home. 2 with a kick-out clause of 72 hours, 4 with 48 hours and 2 with 24 hours.

2021 by the month and a look back at 2020 and 2019

2021

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     1083            1411                  1251

Totals        8951      10048         11040

2020

Month      New     Closed      Contracts accepted

January       1105            566                    858

February     1267            529                   1024

March          1186            707                   1079

April             648             786                    775

May             1352            1010                   1444

June            1232             908                   1534

July              1417           1453                   1852

August         1037          1335                    1436

September    1176          1503                    1503

Totals     10420      8797            11505

2019

Month        New     Closed     Contracts accepted

January           878            407                     568

February        1032            463                     832

March            1731             915                   1375

April              1594            792                    1307

May                1645            995                   1280

June               1643           1253                   1218

July                1423           1008                   1090

August            1585           1330                   1196

September      1164             765                    869

Total        12695       7928            9735

Closed single family homes have increased over the last 3 years even though less homes were available to choose from.  

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.  We will let you know what your home is worth in today’s market.  A net proceeds will be provided to you 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.

Thinking about buying a home?  The first step is to gather all your financial information and contact a loan officer to get pre approved.  Then you will be ready to start looking for a home.

Resources

  • Types of loans and the process
  • VA loans and the requirements
  • Current interest rates
  • Down payment assistance
  • IDHA programs

If you need recommendations for loan officers, real estate attorneys or home inspectors we can give you a few to contact so you can decide who you want to work with.

All data used is from our MLS MRED, LLC.

Fox Valley real estate market update week 39.  Have a great week!

Kristine 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

Fox Valley real estate market update week 39-Kristine Heiman Managing Broker

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