Fox Valley residential market January 14th
Fox Valley residential market January 14th. I hope you are enjoying this mild January weather. I know I am.
New residential listings are slightly up. 114 this week compared to 108 the previous week.
Closed residential listing are also slightly up. 89 this week compared to 70 the previous week.
Aurora-New 14 $90,000-$529,198
Naperville-New 18 $350,000-$3,500,000
Plainfield-New 18 $265,000-$659,999
St Charles-New 13 $253,850-$750,000
Click on the photo above to see other communities that had activity this week.
If you would like me to give you the statistics for the community you are looking in, just let me know. We can scale all the way down to the neighborhood.
Financing used, median prices, and 2,000 SF or more
Median list price this week $414,900, last week $399,900.
Closed median price this week $399,000, last week $368,000
Conventional financing was used to close on 66 homes at median price $445,000 with 44 days average market time, last week 54 homes at median price $372,500 with 52 days average market time.
Cash was used to close on 8 homes this week at median price $387,500 with 27 days average market time, last week also 8 homes at median price $435,500 with 42 days average market time.
FHA financing was used to close on 12 homes this week at median price $301,200 with 55 days average market time, last week 5 homes at median price $255,000 with 57 days average market time.
VA financing was used to close on 2 homes this week at median price $349,495 with 80 days average market time, last week also 2 homes at median price $395,445 with 11 days average market time.
2,000 square feet or more closed on 57 homes at median price $517,000 with 55 days average market time, last week 38 homes at median price $447,500 with 57 days average market time. Minimum price this week $279,000, last week $258,500.
Conventional financing continues to be the most used way to close on a home.
Slightly more than half of the homes sold this week are at least 2,000 SF or more.
Contracts accepted this week
Contracts accepted this week by seller’s is up this week. 114 this week compared to 76 the previous week.
Seller’s in other communities accepted contracts this week. Click on the photo to see more. We just highlighted the ones with the most activity.
1 short sale was accepted by a seller this week. It was in North Aurora. It will now 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. 1 with a kick-out clause of 72 hours and 2 with 48 hours.
Also a seller accepted a contract that is contingent on the buyer selling and closing on their current home. 1 with a kick-out clause of 72 hours.
Median price of homes that went under contract this week $349,950 with 67 days average market time, last week the median price was $349,750 with 75 days average market time.
2023 by the month
Month New Closed Contract accepted
January 222 159 190
Check back with us every Saturday for the residential real estate market update. At the end of each month we will also take a look back at 2022 and 2021 so you can compare.
Click on all the bullet points that are bold and underlined to take you to the site for the information.
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IHDA programs
- Request a home valuation
- Sign-up for email alerts
- Search for homes
Check with your loan officer to see what interest rate you will be offered. It depends on your credit score and other things that they will explain to you.
We can recommend real estate attorney’s, home inspector’s, termite inspectors, and places that do radon tests. Some home inspectors also do them.
All data provided today is downloaded from our MLS, MRED, LLC. The data changes throughout the day as Realtors® upload their information.
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal.
Fox Valley residential market January 14th. Have an awesome week!
Kristine Heiman, SFR, SRS, SRES, AHWD
Designated Managing Broker
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101