How many homes closed 2,000 square feet or more week 33

How many homes closed 2,000 square feet or more week 33-Cover

How many homes closed 2,000 square feet or more week 33. So many people are looking for more space.  Can they find it in the price range they are looking for?  We will get into that shortly.

New listings of single family homes were pretty consistent with the week before.  256 this week compared to 251 the week before.  We would love to see more, but consistency is good.

Closed single family homes this week were also, not far off of last week.  299 this week compared to 291 the week before.  Next week is the last full week of the month so they should increase.

How many homes closed 2,000 square feet or more week 33

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

Aurora-New 46 $145,000-$770,000

            Closed-62 $139,000-$595,000

Bolingbrook-New 16 $249,000-$899,000

                    Closed-23 $175,000-$511,000

Geneva-New 9 $268,900-$1,200,000

             Closed-12 $284,000-$766,337

Naperville-New 42 $250,000-$1,625,000

                 Closed-55 $350,000-$2,400,000

Oswego-New 16 $299,999-$449,990

              Closed-12 $211,000-$440,000

Plainfield-New 44 $224,900-$900,000

                Closed-34 $196,000-$555,000

St Charles-New 17 $209,900-$1,895,000

                  Closed-26 $175,000-$915,000

West Chicago-New 10 $295,000-$664,900

                       Closed-7 $239,000-$492,000

Financing, median list and closed price, 2,000 square feet or more closed this week

Median list price this week $355,000, last week $361,470.  Median closed price $359,900, last week $375,000.  These numbers go up and down each week, but they do not change drastically.

How many homes closed 2,000 square feet or more week 33- Stats 082121
Stats for August 21, 2021

Homes that closed using Conventional this week 218, last week 221.  Cash this week 24, last week 33.

How many homes closed 2,000 square feet or more week 33-Conventional and cash
Conventional and Cash

Closed homes using FHA financing this week 47, last week 26.  VA this week 10, last week 9.

How many homes closed 2,000 square feet or more week 33-FHA and VA
FHA and VA financing

Seller’s are still choosing Conventional financing over anything else.  I am encouraged to see FHA numbers going up.  Some buyer’s that have to go FHA have given up.  They are tired of losing out to buyer’s using Conventional financing with multiple offer situations.

Out of 299 homes that closed this week 191 of them were 2,000 square feet or more.  Median list price is $425,000, closed price is $420,000.  Minimum list price $220,000, closed price $242,000.  So many people are looking for more space since the pandemic.  This gives you an idea of what price that will cost you.  If you are below this price it will be hard to find.  You might need to adjust the criteria for the home you are looking for.

How many homes closed 2,000 square feet or more week 33-2000 sf 082121
2,000 square feet or more

Contracts accepted this week

Contracts accepted this week on single family home were consistent.  300 this week compared to 303 the week before.  The market is staying steady.  There might not be as many offers with multiple offer situations, but buyer’s are still out there looking.

Home many homes closed 2,00 square feet or more week 33-contracts accepted this week

Look at the communities seller’s accepted the most contracts:

Aurora-51                          Batavia-10

Bolingbrook-24                  Montgomery-13

Naperville-33                    Oswego-10

Plainfield-37                     St Charles-26

Sycamore-10                     West Chicago-11

Winfield-14                       Yorkville-11

There were no short sales accepted by seller’s this week.  Most people that are in a bind, and need to sell do not have to go through the short sale process with the prices that have increased.

Seller’s accepted contracts that are contingent on the buyer closing on their current home.  5 with a kick-out clause of 72 hours, 4 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, 8 with 48 hours and 2 with 24 hours.

There was 1 that did not have a kick-out clause that they marked.  So we don’t know about that one.

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           1228                  1289

June                     1450           1686                  1671

July                       1118           1182                   1210

August                   887            930                    884

Totals                  7646          8304                  9503

We started out the year with closings from 2020.  They received a contract in 2020 but did not close until 2021.  That is why the closed column is more than the new listings.  You can see it has been a really tight market.  Normally you would see more new listings than closings.

It still remains a seller’s market.  There might be fewer offers with multiple offer situations, but there are still a lot of buyer’s out there ready to go.

There has been an extreme shortage of housing across the country.  Some new homes have been built in our area that have helped.

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 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.

Are you thinking about buying a home?  You need to get ready first by contacting a loan officer and getting them all your financial information.  You need to get pre approved with this market.  Just calling and talking to a loan officer to get pre-qualified is not enough anymore.  You need to show the seller’s that you have taken this extra step.

Resources:

If you need recommendations for loan officers, real estate attorneys and home inspectors we can give a few of each and you can decide who you want to work with.  Just let us know.

All data used is from our MLS that we use MRED, LLC.

How many homes closed 2,000 square feet or more week 33.  Have a great week!

How many homes closed 2,000 square feet or more week 33-Kristine Heiman Designated 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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