Market update Fox Valley-February 22 2020

Market update Fox Valley-February 22 2020
Single Family Homes

Market update Fox Valley-February 22 2020.  New listings of single family homes increased just under 8% this week.  318 new listings this week compared to 295 the week before.  We are headed in the right direction.  Buyers it is time to get busy and closely look at the new listings that are coming up and see them right away.

Closed listings were slightly down this week.  111 this week compared to 117 the week before.  One more full week left to the month and I am not sure we will get to the numbers of closings that we had in January.  March will be much different.  There were 858 contracts accepted in January that most of them will be closing in March so we will see these numbers go way up.

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

Aurora-New 35 $114,500-$614,900

            Closed-9 $93,000-$470,000

Batavia-New 17 $207,500-$799,000

             Closed-5 $225,000-$827,500

Bolingbrook-New 21 $149,900-$409,000

                     Closed-9 $233,500-$425,000

Geneva-New 11 $345,000-$797,900

             Closed-9 $115,000-$372,000

Montgomery-New 12 $175,000-$359,020

                     Closed-7 $132,750-$282,500

Naperville-New 65 $300,000-$1,250,000

                Closed-21 $259,900-$1,250,000

Plainfield-New 46 $159,900-$649,000

               Closed-10 $222,000-$450,000

St Charles/Campton Hills-

               New-22 $249,900-$1,399,000

               Closed-8 $235,000-$550,000

Yorkville-New 17 $239,500-$725,000

              Closed-5 $220,000-$388,000

Contracts accepted this week

Market update Fox Valley-February 22 2020-Contracts accepted this week
Single Family Homes

Contracts accepted this week were almost 16 1/2 % up this week.  276 single family homes accepted this week compared to 237 the week before.  Buyers are ready to go sellers!  It is time right now to get your home on the market.

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

Aurora-31                          Batavia-12

Bolingbrook-20                  Geneva-14

Minooka-10                        Montgomery-10

Naperville-37                      Oswego-11

Plainfield-45                       St Charles/Campton Hills-22

Sugar Grove-10                  Yorkville-14

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

Sellers also accepted contracts this week that are contingent on the buyer closing on their current home. 8 with a kick-out clause of 72 hours, 12 with 48 hours and 4 with 24 hours.

Also sellers accepted contracts that are contingent on the buyer selling and closing on their current home.  4 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

February                     958        321               721

We have one more full week left in February.  We will pass up the January totals for New listings and Contracts accepted but I am not sure about closed listings.

Contact us

Call us at 630-503-6555 ext 101.  Your goal is our goal.  We will do everything we can to help you reach your goal.

Now is the time to get busy getting your home market ready.  Spring market is here. Let us update the value of your home in today’s market.  We will provide you with a net proceeds that gives you an estimate of expenses to sell and shows you about how much you will have to invest in another home.  This will be updated when an offer comes in and we know all the terms so you can make a good decision.

If you are thinking about buying a home you will need to contact a loan officer to get pre-qualified so you know what type of loan and what price range will work out best for you.  If you need recommendations we will provide you with a few to contact so you can decide who you would like to work with.

Check out some great resources:

Market update Fox Valley-February 22 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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