Market update Fox Valley April 18 2020
Market update Fox Valley April 18 2020. New listings were slightly higher this week. 178 new listings of single family homes compared to 168 the week before. We are heading in the right direction slowly. This should increase as more people get used to our new normal way of doing things. Sellers might even like this market better because I think it has slowed down the showings that are not seriously looking for your type of home.
Closed listings were consistent this week. 182 closing on single family homes this week compared to 180 the week before. You can’t get more consistent than that. They should go up as we head into the end of the month when most buyers like to close.
Take a look at the communities with the most activity this week:
Aurora-New 19 $149,000-$924,900
Closed-25 $90,000-$580,000
Bolingbrook-New 9 $168,108-$445,000
Closed-16 $163,000-$435,000
Geneva-New 10 $207,000-$437,500
Closed-12 $232,500-$622,000
Naperville-New 47 $275,000-$2,250,000
Closed-39 $170,000-$1,099,000
Oswego-New 11 $199,000-$515,000
Closed-7 $162,900-$364,900
Plainfield-New 20 $243,500-$730,000
Closed-26 $154,000-$540,500
St Charles/Campton Hills-
New 11 $234,900-$744,900
Closed-13 $248,000-$555,000
Contract accepted this week
Contracts accepted by sellers this week were just under 8% higher this week. 190 contracts accepted compared to 176 the week before. This is also going in the right direction. We hope to see this continue.
Look at the communities that sellers accepted the most contracts this week:
Aurora-26 Bolingbrook-21
Montgomery-10 Naperville-28
Oswego-16 Plainfield-31
St Charles/Campton Hills-11
Some homes are allowing showings and others are by virtual tour.
2020 by the month
Month New Closed Contracts accepted
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
April 440 608 538
At the end of the month check back with us and we will compare to last 2 years so you can see the changes.
Contact us
Call us at 630-503-6555 ext 101 with all of your real estate questions. Your goal is our goal.
Covid-19 has changed the way we do business. There are so many reasons people need to buy and sell a home that is why they have classified us as an “essential business.” Some homeowners are allowing showings and others are not. Some want virtual showings only. Your needs are what is important to us.
We can do video meetings and you can show us around your home so we can do a market analysis to update the value of your home. We will provide a net proceeds that shows the expenses of selling your home so you have an idea where you are at. This will be updated when an offer comes and we know all the terms.
Are you looking to buy a home? You need to get pre-qualifed with a loan officer. It is even more important now to see what type of loan and the price range you need to be in. Things are changing with some lenders. They will keep you up to date with all changes.
Check out some great resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some community assistance
Home inspections and closings are a little different right now. You used to be able to go in with the home inspector so they coud show you how to maintain the home while they go through. Now just the home inspector goes in. They will still give you a report and can go over things with you.
Closings are done differently with each title company. We can let you know once a title company is chosen how they are doing things.
Market update Fox Valley April 18 2020. Have a great week! Stay safe and healthy while we go through this health event.
Kristine Heiman, Designated Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
We are working remotely at this time. You can reach us anytime though.
630-503-6555 ext 101