Market update Fox Valley-February 22 2020
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
Batavia-New 17 $207,500-$799,000
Bolingbrook-New 21 $149,900-$409,000
Geneva-New 11 $345,000-$797,900
Montgomery-New 12 $175,000-$359,020
Naperville-New 65 $300,000-$1,250,000
Plainfield-New 46 $159,900-$649,000
St Charles/Campton Hills-
Yorkville-New 17 $239,500-$725,000
Contracts accepted this week
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:
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.
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:
- Types of loans and the process
- VA loans and the requirements
- Down payment assistance
- Illinois homeowner assistance and some communities
- Current interest rates
- School ratings
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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