Market update Fox Valley-March 7 2020
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
Batavia-New 16 $222,000-$565,000
Bolingbrook-New 25 $169,900-$750,000
Geneva-New 14 $249,000-$719,000
Montgomery-New 10 $179,000-$294,900
Naperville-New 77 $199,900-$2,850,000
Oswego-New 20 $185,000-$677,000
Plainfield-New 41 $149,900-$1,200,000
Plano-New 10 $147,500-$399,900
St Charles/Campton Hills-
West Chicago-New 15 $187,900-$539,900
Yorkville-New 20 $144,900-$524,900
Contracts accepted this week
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:
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.
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:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some communities
- School ratings
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