Market update Fox Valley-March 14 2020

Market update Fox Valley-March 14 2020
Single Family Homes

Market update Fox Valley-March 14 2020.  New listings of single family homes went down this week slightly over 4.5%.  360 this week compared to 377 the week before.  Not too bad.

Closings this week on single family homes also went down just under 17%.  These numbers will go up as we get closer to the end of the month.

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

Aurora-New 42 $52,900-$799,900

            Closed-24 $91,000-$410,000

Bolingbrook-New 19 $160000-$639,000

                    Closed-11 $151,500-$315,000

Geneva-New 30 $232,000-$750,000

             Closed-3 $375,000-$669,000

Montgomery-New 12 $239,900-$301,990

                     Closed-1 $137,500

Naperville-New 69 $249,000-$1,695,000

                Closed-22 $248,000-$959,000

North Aurora-New 10 $199,900-$424,988

                      Closed-2 $310,000-$358,000

Oswego-New 24 $209,500-$598,000

             Closed-7 $199,000-$414,900

Plainfield-New 45 $209,900-$975,000

                Closed-24 $161,700-$450,000

St Charles/Campton Hills-

               New-23 $189,900-$624,999

               Closed-11 $121,200-$1,035,000

West Chicago-New 11 $209,900-$550,000

                      Closed-3 $230,000-$272,000

Yorkville-New 11 $144,900-$425,000

              Closed-1 $269,000

Contracts accepted this week

Market update Fox Valley-March 14 2020-Accepted contracts this week
Single Family Homes

Contracts accepted this week on single family homes went up just under 30%.  347 this week compared to 267 the week before.  We are definitely in Spring market.

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

Aurora-52                                    Batavia-11

Bolingbrook-28                           Geneva-14

Montgomery-12                          Naperville-69

Oswego-19                                 Plainfield-40

St Charles/Campton Hills-18     West Chicago-12

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

Sellers accepted contracts that are contingent on the closing of the buyers current home.  14 with a kick-out clause of 72 hours, 19 with 48 hours and 1 with 24 hours.

Also, sellers accepted contracts that are contingent on selling and closing of the buyers current home.  2 with a kick-out clause of 72 hours, 3 with 48 hours and also 3 with 24 hours.

This shows that sellers are confident in this market.

2020 by the month

Month                           New    Closed    Contracts accepted

January                       1105      566                858

February                     1267      529              1024

March                           737      313                614

If March continues the way it is so far, we should double February numbers.

Contact us

Call us at 630-503-6555 with all of your real estate questions.  Your goal is our goal.  We will do everything we can to help you reach your goals.

Now is a great time to sell!  Let us update the value of your home in the current market.  We will provide you with a net proceeds that shows you an estimate of the expenses to sell.  When an offer comes in we will update this when we know all the terms so you can make a good decision.

Thinking about buying a home this year?  Talking to a loan officer to get pre-qualified is your first step.  They will let you know the type of loan and the price range that will work out best for you.  

If you need recommendations of loan officers, real estate attorneys, home inspectors we can give you names and phone numbers to contact to see who you would like to work with.

Check out some great resources:

Market update Fox Valley-March 14 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

besthomesfv@gmail.com

 

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