Market update Fox Valley-February 15 2020

Market update Fox Valley-February 15 2020
Single Family Homes

Market update Fox Valley-February 15 2020.  New listings of single family homes was down 14.49% this week.  295 this week compared to 345 the week before.  We are definitely going in the wrong direction.  Inventory is low already.  I hope it picks up this week.

Closed listings were up 25.81% this week.  117 closed single family homes this week compared to 93 the week before.  These numbers will increase as we get closer to the end of the month when most buyers want to close.

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

Aurora-New 34 $99,000-$488,500

            Closed-17 $107,000-$332,500

Bolingbrook-New 13 $169,900-$339,900

                    Closed-11 $146,000-$429,000

Geneva-New $264,900-$819,000

             Closed-3 $256,000-$329,000

Montgomery-New 10 $199,900-$317,000

                     Closed-7 $152,201-$284,000

Naperville-New 78 $289,000-$2,149,900

                 Closed-14 $247,000-$895,000

Oswego-New 25 $239,900-$529,900

             Closed-5 $197,000-$329,900

Plainfield-New 31 $159,000-$519,900

               Closed-21 $219,900-$790,000

St Charles/Campton Hills-

               New-22 $249,900-$775,000

              Closed-12 $81,250-$2,825,000

Contracts accepted this week

Market update Fox Valley-February 15 2020-Contracts accepted this week
Single Family Homes

Contracts accepted this week are up 5.8%.  237 this week compared to 224 the week before.  Not much of an increase.  Weather might of been a factor for this week.  We did get snow and very cold temperatures.  We have been very lucky this winter.  It has been pretty mild.

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

Aurora-28                             Bolingbrook-21

Naperville-38                        Oswego-17

Plainfield-32                         St Charles/Campton Hills-21

Sycamore-11                        Yorkville-11

5 short sales were accepted by sellers this week.  2 in Oswego and 1 each in Minooka, Naperville and Plainfield.  Now they will be submitted to the lender to see if they will also accept.

Contracts were accepted by sellers that are contingent on the buyer closing on their current home.  4 with a kick-out clause of 72 hours, 6 with 48 hours and 3 with 24 hours.

Also contracts were accepted by sellers that are contingent on the buyer selling and closing on their current home.  3 with a kick-out clause of 48 hours and 2 with 24 hours.

2020 activity by the month

Month                         New     Closed     Contracts accepted

January                    1105        566                858

February                     640        210                445

We are half way through the month and new listings and contracts accepted are on track to pass up the totals of January.  Usually January and February are slower months but this year with the mild temperatures people are not waiting for Spring market.  They know once Spring market hits they will have more competition. Now is a great time to be a seller!

Contact us

Call us at 630-503-6555.  Your goal is our goal.  We will do everything we can to help you reach your goal whether you are a buyer/seller of both.

Let us update the value of your home in today’s market.  We will provide you with a net proceeds that shows you an estimate of the expenses to sell.  This will be updated when an offer comes in and we know all the terms so you can make a good decision.

Thinking about buying this year?  You need to contact a loan officer to get pre-qualified so you know the price range and type of loan that will work out best for you.  Need recommendations?  We can provide you with a few to contact so you can decide who best to work with.

Check out some great resources:

Let us know what questions you have.  We will guide you through the process every step of the way.

Market update Fox Valley-February 15 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

besthomesfv@gmail.com

Here is another way to search for a home.  You can change to satellite view and it also has a chat feature.

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