Market Update Fox Valley-March 10 2018

Market Update Fox Valley-March 10 2018

Market update Fox Valley-March 10 2018.  New listings of single family homes continues to be over the 300 mark which is good.  This week there were 328 new listings compared to 345 last week.  Slightly less than the week before.

Closed listings of single family homes were down this week.  111 this week compared to 206 the week before.  We are in the beginning of the month so this is to be expected.  These numbers should increase as we get closer to the end of the month.

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

AuroraNew 35 from $115,000-$1,100,000            Closed-17 from $100,000-$397,000   Total active listings-205 from $59,000-$1,450,000

with 5 auction listings

BataviaNew 12 from $279,900-$869,900              Closed-3 from $110,000-$566,520     Total active listings-87 from $179,000-$3,995,000

with 2 auction listings

BolingbrookNew 19 from $169,900-399,900        Closed-4 from $172,000-$342,500     Total active listings-97 from $168,000-$599,000

GenevaNew 16 from $225,000-$1,555,000           Closed-8 from $223,100-$430,000     Total active listings-131 from $189,000-$1,750,000

MontgomeryNew 11 from $149,900-$299,900     Closed-5 from $154,000-$260,000     Total active listings-53 from $109,900-340,000

with 1 auction listing

NapervilleNew 66 from $216,000-$1,499,000       Closed-19 from $280,000-$850,000   Total active listings-498 from $216,000-$7,425,000

OswegoNew 18 from $229,900-$475,000             Closed-4 from $247,000-$415,000     Total active listings-116 from $129,900-$1,790,000

PlainfieldNew 40 from $216,000-$879,900           Closed-9 from $233,000-$340,000     Total active listings-272 from $159,900-$2,399,000

with 2 auction listings.

St Charles/New 36 from $259,900-$995,000        Closed-7 from $170,000-$828,750     Total active listings-355 from $109,900-$3,950,000

Campton Hills

SycamoreNew 12 from $123,500-$649,900          Closed-2 from $137,000-$300,000      Total active listings-56 from $114,000-$649,900

All these numbers are changing as I am posting this.  Weekends are very busy.

Contracts accepted this week

Market Update Fox Valley-March 10 2018-Contracts Accepted

Sellers accepted 316 contracts this week. Last week they accepted 299.  Slightly more than the week before.  As you can see there were 328 New listings and then 316 contracts accepted so the inventory is not accumulating.  Homes are selling at the same rate that new homes are coming on the market.

Take a look at the communities that sellers accepted contract this week:

Aurora-41                               Oswego-23

Bolingbrook-23                      Plainfield-35

Geneva-13                               St Charles/Campton Hills-26

Montgomery-10                     Sycamore-10

Naperville-52                          West Chicago-12

Short sales accepted by sellers this week doubled. 12 this week compared to 6 the week before.  Now they will be submitted to the lender to see if they will also accept as contract is written.

Sellers accepted contracts this week that are contingent on the buyers home closing.  Buyers home has already accepted a contract but need to close to purchase.  15 with a kick-out clause of 72 hours, 10 with 48 hours and 2 with 24 hours.

Contracts were also accepted by sellers that the buyers home needs to sell and close before purchasing.  Buyers home might or might not already be on the market.  They have not accepted a contract on their home.  Contract is contingent on a sale and close.  5 with a kick-out clause of 72 hours and 6 with 48 hours.

Contact us

Contact us with any questions you have on buying or selling a home.  Our goal is to negotiate price and terms that are best. Call us at 630-503-6555 Jeffery Szymczak-Broker ext 104, Bobby Burson-Broker ext 105 or Kristine Heiman-Managing Broker ext 101.  We will guide you through the process.

Resources

If you are wanting to purchase a home your first step is to contact a loan officer to get pre-approved so you know what type of loan is best for you and what price range you should be looking in. To find out more about loans and the process go here

There are programs to help you with a down payment. You can look here to see if you qualify.  Also talk to your loan officer to see what kind of help they offer.

You can look up current interest rates to see where they are.  Your interest rate with be determined by your credit score. Your loan officer will be able to help you if you need to improve it to get the best rate.

Request a home valuation if you are thinking about selling.  We can show you what your home is worth is the current market.  You can go to our website below to make a request. We will do a net proceeds for you to show you what costs are involved so you know what you will have to work with to make a move.

Market update Fox Valley-March 10 2018.  Have a great week!

Krisitne Heiman-Managing Broker

Best Homes Fox Valley

1444 N Farnsworth Ave Suite 104

Aurora, IL 60505

630-503-6555

besthomesfv@gmail.com

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