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:
Aurora–New 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
Batavia–New 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
Bolingbrook–New 19 from $169,900-399,900 Closed-4 from $172,000-$342,500 Total active listings-97 from $168,000-$599,000
Geneva–New 16 from $225,000-$1,555,000 Closed-8 from $223,100-$430,000 Total active listings-131 from $189,000-$1,750,000
Montgomery–New 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
Naperville–New 66 from $216,000-$1,499,000 Closed-19 from $280,000-$850,000 Total active listings-498 from $216,000-$7,425,000
Oswego–New 18 from $229,900-$475,000 Closed-4 from $247,000-$415,000 Total active listings-116 from $129,900-$1,790,000
Plainfield–New 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
Sycamore–New 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
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:
Geneva-13 St Charles/Campton Hills-26
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 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.
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
1444 N Farnsworth Ave Suite 104
Aurora, IL 60505