Market update Fox Valley-March 14 2020
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
Bolingbrook-New 19 $160000-$639,000
Geneva-New 30 $232,000-$750,000
Montgomery-New 12 $239,900-$301,990
Naperville-New 69 $249,000-$1,695,000
North Aurora-New 10 $199,900-$424,988
Oswego-New 24 $209,500-$598,000
Plainfield-New 45 $209,900-$975,000
St Charles/Campton Hills-
West Chicago-New 11 $209,900-$550,000
Yorkville-New 11 $144,900-$425,000
Contracts accepted this week
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:
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.
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:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some community assistance
- School ratings
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