Market Update Fox Valley-April 7 2018. Wow! New listings of single family homes almost doubled this week in the Fox Valley area. 450 new listings this week compared to 227 last week. Come on buyers now is the time for choices before they are gone!
Closings this week didn’t drop off that much for the 1st week in April. 176 closings this week in the Fox Valley area compared to 221 last week. If 2018 is the year that you would like to sell this is the best time of the year right now to sell.
Take a look at the 13 communities that had the most activity this week:
Aurora-New 49 $155,000-$949,900 Closed-17 $158,000-$434,000 Active-223 $59,000-$1,450,000 with 3 Auctions
Batavia-New 10 $199,900-$595,000 Closed-9 $223,900-$465,000 Active-83 $195,000-$3,995,000 with 1 Auction
Bolingbrook-New 30 $125,000-$625,000 Closed-14 $190,000-$458,000 Active-104 $125,000-$649,000 with 3 Auctions
Geneva-New 25 $198,000-$1,450,000 Closed-2 $223,500-$462,160 Active-139 $224,500-$1,750,000
Montgomery-New 12 $130,000-$299,900 Closed-5 $157,000-$251,500 Active-46 $130,000-$325,900
Naperville-New 111 $229,900-$1,449,000 Closed-40 $252,000-$1,565,000 Active-581 $219,900-$7,425,000
North Aurora-New 10 $263,317-$600,000 Closed-7 $220,000-$325,500 Active-54 $169,500-$600,000
Oswego-New 13 $179,900-$589,000 Closed-12 $219,000-$680,000 Active-108 $119,900-$1,595,000
Plainfield-New 55 $189,000-$790,000 Closed-16 $208,500-$425,000 Active-272 $159,900-$1,195,000 with 1 Auction
St Charles/-New 43 $189,900-$1,695,000 Closed-14 $222,000-$755,000 Active-360 $155,000-$3,950,000
West Chicago-New 10 $324,900-$599,900 Closed-6 $228,000-$475,000 Active-77 $128,501-$949,900 with 1 Auction
Winfield-New 10 $227,000-$795,000 Closed-2 $288,000-$505,000 Active-48 $227,000-$1,400,000
Yorkville/-New 17 $189,900-$418,500 Closed-6 $199,000-$399,000 Active-110 $179,500-$975,000
Contracts accepted by sellers this week were down slightly this week. 279 this week compared to 321 last week. It was a holiday week that had slower activity with new listings so that is not too bad.
Take a look at the communities that sellers accepted the most contracts:
Aurora 47 Batavia-12
St Charles/Campton Hills-19
Short sale contracts that sellers accepted this week were about the same. 6 this week compared to 7 last week. Now they will be submitted to the lender to see if they will also accept contract as written.
Sellers accepted contracts this week that are contingent on the close of the buyers current home. Buyers have accepted a contract on their current home but need to close to purchase. 10 with a kick-out clause of 72 hours, 13 with 48 hours and 6 with 24 hours.
Contracts were also accepted this week that are contingent on the sale and closing of the buyers current home. Buyers current home might or might now already be on the market. They still need to sell and accept a contract on their home and close before they can purchase. 1 with a kick-out clause of 72 hours, 2 with 48 hours and 4 with 24 hours.
If you are thinking about selling your home the first-step is to have a market analysis to see what the value is in the current market. Tell you what you need to do to get your home market ready. We can explain the costs of selling your home and an estimate of what you will receive at closing. We will update this when a contract comes in and we know all the terms of the contract.
If you are thinking about purchasing a home or town home your first-step is to get pre-approved with a loan officer to see what you qualify for and see if you need to work on your credit score so you get the best interest rate. We will need the letter the loan officer gives you to go with an offer when you find the home you like. It can be no more than 30 days old.
You might want to get familiar with the different types of loans and the process before you begin.
Take a look at current interest rates.
School ratings are important whether you have kids or not. Always be thinking about resale.
Look at Down Payment Resource to see if you qualify for any assistance. It might save you money so you can do some things to your home once you move in like paint or make some improvements.
Call us with any questions you have or to get started. 630-503-6555 Jeffery Szymczak-Broker ext 104, Bobby Burson-Broker ext 105 or Kristine Heiman-Managing Broker ext 101. Our goal is to negotiate price and terms that are best. We make it our business to find the perfect fit for your needs. Have a great week! Market update Fox Valley-April 7 2018.
Kristine Heiman-Managing Broker
Best Homes Fox Valley-Find your home today!
1444 N Farnsworth Ave Suite 104
Aurora, IL 60505