Market update Fox Valley April 4 2020

Market update Fox Valley April 4 2020.  New listings this week were almost the same as the week before.  194 this week compared to 192 the week before.  That is consistent even through a pandemic.

Closed listings in the Fox Valley were up slightly over 20% this week.  246 this week compared to 204 the week before.  I bet most of those occurred on Monday and Tuesday the last days of March.

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

Aurora-New 24 $109,900-$829,900

            Closed-27 $100,000-$475,000

Bolingbrook-New 16 $207,000-$425,000

                    Closed-22 $122,500-$360,000

Geneva-New 6 $269,000-$475,000

             Closed-11 $315,000-$475,000

Montgomery-New 6 $214,900-$299,600

                     Closed-13 $176,000-$305,000

Naperville-New 34 $259,900-$3,988,866

                 Closed-34 $320,000-$1,120,000

Oswego-New 13 $159,000-$539,900

              Closed-14 $160,000-$465,000

Plainfield-New 25 $224,500-$699,000

                Closed-33 $180,000-$426,900

St Charles/Campton Hills-

               New-15 $123,900-$949,900

               Closed-17 $220,000-$730,000

Yorkville-New 14 $169,900-$610,810

              Closed-19 $215,000-$467,500

Contracts accepted this week

Contracts accepted this week were right on target with last week.  172 this week compared to 179 the week before.  We love consistency!  

Look at the communities that sellers accepted the most contracts this week:

Aurora-20                                 Bolingbrook-13

Naperville-21                            Oswego-10

Plainfield-28                             Yorkville-11

3 short sales were accepted by sellers this week.  2 in Yorkville and 1 in Bristol. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home.  8 with a kick-out clause of 72 hours,  18 with 48 hours and 1 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyers selling and closing on their current home.  1 with a kick-put clause of 72 hours and 5 with 48 hours.

2020 by the month

Month                             New   Closed   Contracts accepted

January                        1105      566             858

February                      1267      529           1024

March                          1186      707           1079

April                              194      246              172

At the end of each month I will show the previous 2 years so you can see how we are doing.

Contact us

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

Our industry is classified as “essential” but things have changed.  No open houses during this time.  We are encouraging virtual showings.  Yes it is hard to get the feeling of a home by pictures or a video.  We all have seen wonderful pictures of a home and get there and the pictures looked so much better than it actually was.  They are even suggesting that we have the owners take the pictures or video so we don’t even enter the home.  You will need to look more closely at the amount of space to see if it fits your needs.  You can drive by and look from the outside and see if you like the setting.  Some owners are still allowing showings.

You can still order a home inspection but they are doing it and then giving you a report.  It was nice when you could go through it with them and they could show you how to maintain the home.  They do provide a lot of that information in the report though.

We are doing video meetings now so we can still go over everything with you and answer your questions.

Talking to your loan officer is very important during this time.  They will explain the things that have changed on their end.  If you were pre-qualified before you might need to get it updated now.

Closings have also changed.  Some title companies want the sellers to sign all documents with your attorney before closing day.  Some are still having the buyers come in to sign document and others have “curbside closings.”  They set up a time with you and you pull up to the office and they come out and get your identification and leave the package of documents for you to sign.  They come back out when you are finished and they pick up the package and make sure everything is signed.  Us REALTORS®  are not able to go to closings during this time.  They don’t want anyone there that does not need to sign paperwork.

People still have a need to buy and sell their homes for so many different reasons.  We want to be there for you to help get through this time.

Check out some great resources:

• Types of loans and the process
• VA loans and the process
• Current interest rates
• Down payment assistance
• Illinois homeowner assistance and some communities

Market update Fox Valley April 4 2020.  Have a great week!  Stay safe and wash your hands.

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

besthomesfv@gmail.com