Market update Fox Valley-March 7 2020

Market update Fox Valley-March 7 2020
Single Family Homes

Market update Fox Valley-March 7 2020.  New listings of single family homes were up 22% this week.  377 this week compared to 309 the week before.  Spring market is in full swing so don’t wait!  Now is the time to get your home on the market.

Closed listings were down about 17% this week.  171 this week compared to 208 the week before.  That is the difference between the beginning of the month and the end of the month.  These numbers will increase as we get towards the end of the month.

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

Aurora-New 39 $89,900-$924,900

            Closed-37 $105,000-$489,900

Batavia-New 16 $222,000-$565,000

             Closed-4 $270,000-$510,000

Bolingbrook-New 25 $169,900-$750,000

                     Closed-13 $130,000-$407,500

Geneva-New 14 $249,000-$719,000

             Closed-3 $330,000-$455,000

Montgomery-New 10 $179,000-$294,900

                     Closed-6 $185,000-$289,900

Naperville-New 77 $199,900-$2,850,000

                 Closed-22 $289,900-$1,135,000

Oswego-New 20 $185,000-$677,000

              Closed-11 $231,000-$315,000

Plainfield-New 41 $149,900-$1,200,000

                Closed-20 $125,000-$529,000

Plano-New 10 $147,500-$399,900

          Closed-2 $195,000-$319,000

St Charles/Campton Hills-

          New-32 $159,000-$1,279,000

          Closed-11 $210,000-$650,000

West Chicago-New 15 $187,900-$539,900

                      Closed-6 $147,184-$395,000

Yorkville-New 20 $144,900-$524,900

              Closed-9 $205,000-$520,000

Contracts accepted this week

Market update Fox Valley-March 7 2020-Contracts accepted this week
Single Family Homes

Contracts accepted this week were down about 11%.  267 this week compared to 303 the week before.  We are having gorgeous weather this weekend going into next week so these numbers should go up next week.  Also, there is a bigger range of priced homes that were listed this week.  That will help a wider range of buyers to find a home.

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

Aurora-3                                  Batavia-1

Bolingbrook-17                       Geneva-17

Montgomery-10                      Naperville-45

Oswego-16                              Plainfield-39

St Charles/Campton Hills-20

4 short sales were accepted by sellers this week.  1 each in Batavia, Bolingbrook, Plano and Yorkville.  Now they will be submitted to the lender to see if they will also accept.  We are happy that short sales remain low.

Sellers accepted contracts this week that are contingent on the buyer closing on their current home.  8 with a kick-out clause of 72 hours, 9 with 48 hours and 3 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home.  1 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                  1267        529            1024

March                        377        171              267

At the end of the month I will compare it to the last few years so you can see how the market changes from year to year.

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.

Let us update the value of your home in today’s market.  We will provide you with a net proceeds that shows you an estimate of expenses and your equity.  This will be updated when we get an offer on your home and we know all the terms so you can make a good decision.

Thinking about buying a home this year?  Your first step is to contact a loan officer to get pre-qualified so you know the type of loan and what price range will work out best for you.  If you need recommendations we would be happy to give you a few loan officers to contact to see who you want to work with.

Check out some great resources:

If there is other information you are looking for just let us know and we will try to point you in the right direction.  Spring market is a very exciting time of year.  You need to be available and ready to go when a home comes on the market so you don’t miss out on it.  So get your taxes done and keep all your information in a folder so it is ready if you need it.

Market update Fox Valley-March 7 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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