Market update Fox Valley-February 15 2020
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
Bolingbrook-New 13 $169,900-$339,900
Montgomery-New 10 $199,900-$317,000
Naperville-New 78 $289,000-$2,149,900
Oswego-New 25 $239,900-$529,900
Plainfield-New 31 $159,000-$519,900
St Charles/Campton Hills-
Contracts accepted this week
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:
Plainfield-32 St Charles/Campton Hills-21
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!
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:
- Types of loans and the process of buying a home
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some community assistance
- School ratings
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
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