Market update Fox Valley May 9 2020

Market update Fox Valley May 9 2020
Single Family Homes

Market update Fox Valley May 9 2020. New listings of single family homes were up just shy of 13% this week. 287 this week compared to 254 the week before.

Closed listings of single family homes were down slightly over 35%.  169 this week compared to 261 the week before.  This is due to the beginning of the month and will go up as we get closer to the end of the month when most buyers want to close.

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

Aurora-New 32 $129,900-$675,000

            Closed-25 $74,000-$580,000

Bolingbrook-New 11 $169,999-$498,000

                     Closed-13 $180,000-$521,000

Elburn-New 10 $294,900-$610,000

            Closed-1 $225,000

Geneva-New 16 $185,000-$795,000

             Closed-5 $284,974-$440,000

Montgomery-New 9 $179,900-$294,900

                     Closed-11 $195,000-$349,590

Naperville-New 59 $299,999-$1,695,000

                 Closed-24 $342,000-$818,000

North Aurora-New 11 $225,000-$424,900

                       Closed-4 $190,000-$331,300

Oswego-New 12 $242,000-$449,900

              Closed-9 $224,900-$540,000

Plainfield-New 38 $171,500-$699,800

                Closed-23 $191,000-$512,000

St Charles/Campton Hills- 

                New-31 $259,000-$1,500,000

                Closed-15 $209,000-$735,000

West Chicago-New 10 $229,900-$499,000

                      Closed-2 $238,500-$395,000

Contracts accepted this week

Market update Fox Valley May 9 2020-Contracts accepted this week
Single Family Homes

Contracts accepted this week on single family homes was down just under 7% this week.  259 this week compared to 278 the week before.

Inventory of homes that are available is an issue right now.  There just is not enough homes for buyers to go and see.  If you are thinking about selling this year now is the time.

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

Aurora-38                           Bolingbrook-20

Geneva-10                          Montgomery-14

Naperville-52                      Oswego-20

Plainfield-31                       St Charles/Campton Hills-14


5 short sales of single family homes were accepted by sellers this week.  1 each in Aurora, Bolingbrook, Oswego, Plainfield and Sugar Grove. Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts that are contingent on the buyer closing on their current home.  5 with a kick-out clause of 72 hours, 10 with 48 hours and 2 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home.  3 with a kick-out clause of 72 hours and 8 with 48 hours.

2020 by the month

Month                             New   Closed   Contracts accepted

January                       1,105      566            858

February                     1,267      529         1,024

March                         1,186      707         1,079

April                               648     786             775

May                                541     430             537

Some of May’s totals are the last week of April but May still looks like it is going to be a great month.

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 goal.

Covid-19 has changed how we do business.  We are not allowed to do Open Houses anymore during this time.  Meetings are now happening by Zoom videos.  I am getting used to the Zoom meetings and might keep doing them even after this is over with.  I think they save people time and we can go over everything and answer all of your questions.  We can share documents or the market analysis and go over it with you.

At this time you really need to keep in contact with your loan officer with any changes to the mortgage market.  You need to get pre-approved so you know what type of loan and what price range works out best for you.

If you are selling we can do virtual showings or if you still want to show your home you can give us the instructions you want for people to enter your home.

Home inspections now only want the home inspector in the home and they will give you a report and go over it with you.

Closings if you are the seller you will sign documents most likely ahead of time and not go to the closing.  Some are still going.  Some title companies even have the buyer drive up and they come out with documents to have you sign. Other title companies are still having the buyers come in.

Check out some great resources:

We know you must have a lot of questions on buying and selling a home at this time.  Please let us know the questions you have.  We are happy to explain the process to you and guide you through the process.

Market update Fox Valley May 9 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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