Market update Fox Valley February 1 2020
Market update Fox Valley February 1 2020. New listings of single family homes this week were slightly down. 246 this week compared to 256 the week before. Only 10 listings off. That is not too bad.
Closed listing of single family homes was up this week. 125 this week compared to 107 the week before. Not too bad for January. The weather has been mild both in December and January. That really makes a difference. We hope the mild winter will continue.
Take a look at the communities with the most activity this week:
Aurora-New 30 $114,500-$499,500
Batavia-New 12 $275,000-$735,000
Bolingbrook-New 11 $194,900-$449,900
Geneva-New 10 $279,000-$595,000
Montgomery-New 17 $194,500-$319,900
Naperville-New 44 $257,500-$3,300,000
Oswego-New 13 $170,000-$565,000
Plainfield-New 38 $200,000-$895,600
St Charles/Campton Hills-
New 19 $339,000-$1,999,995
Yorkville-New 7 $237,990-$500,000
Contracts accepted this week
Contracts accepted by sellers this week were very consistent with last week. 208 this week compared to 210 the week before. We love consistency! We are looking to February to continue with this trend before we really start heating up with Spring market. This really is a great time whether you are a buyer or seller to find a home or to sell one. There is not as much competition right now as there will be starting in March.
Look at the communities that sellers accepted the most contracts:
St Charles/Campton Hills-12 West Chicago-10
There were 6 short sales accepted this week on single family homes. 3 in Plainfield and 1 each in Aurora, Batavia and Bolingbrook. 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. 5 with a kick-out clause of 72 hours,4 with 48 hours and 1 with 24 hours.
Also Sellers accepted contracts that are contingent on the buyer selling and closing on their home. 1 with a kick-out clause of 72 hours, 6 with 48 hours and 1 with 24 hours.
2020 by the month
Month New Closed Contracts accepted
January 1105 566 858
Compare to 2019
January 858 407 608
We are ahead of last year for new, closed and contracts accepted. For New listings we are ahead almost 28.8%, Closed up 39% and Contracts accepted we are up 41%. Some people are saying we are already in Spring market. I think March we will be up even more. Check back with us and see.
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.
If you are working on your home to get it ready for market let us know so we can give you an idea of the best things you need to work on. We will update the value on your home in today’s market. Provide you with a net proceeds so you have an idea of expenses to sell. We will update this when an offer comes in so you can make a good decision.
Thinking about buying this year? You need to call a loan officer to get pre-qualified to see what type of loan and what price range will work out best for you. If you need recommendations we will be happy to provide you with a few to contact to see who you would like to work with. Get your information together and keep it in a folder so it is easy to find just in case they ask you for it again later.
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 communities
- School ratings
Let us know what other information you are looking for. We will point you in the right direction.
Market update Fox Valley February 1 2020. Have a great week!
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
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