Market update Fox Valley week 26

Market update Fox Valley week 26Market update Fox Valley week 26.  New listings came in just under the week before.  295 new listings of single family homes this week compared to 308 the week before.  Down by 4.22%.  We need to get more new listings not less.  Inventory is very low.

Closed listings were up 18.66%.  248 closed listings of single family homes compared to 209 the week before.  The end of the month is usually when you see the highest numbers when most buyers want to close.  Closer to the end of the month buyers come in with less money for interest for the month.  Closing costs can add up so saving this amount helps them get into the home.

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

Aurora-New 38 $124,900-$775,000

            Closed-26 $90,000-$425,000

Batavia-New 9 $234,900-$495,000

             Closed-13 $264,000-$725,000

Bolingbrook-New 8 $199,900-$489,000

                     Closed-16 $173,000-$390,000

Geneva-New 13 $319,900-$575,000

             Closed-7 $265,287-$510,000

Montgomery-New 7 $249,900-$343,565

                     Closed-17 $146,300-$273,000

Naperville-New 70 $297,000-$2,399,500

                 Closed-44 $242,500-$4,750,000

Oswego-New 10 $249,900-$429,900

              Closed-11 $223,000-$415,000

Plainfield-New 40 $171,900-$519,000

                Closed-24 $225,000-$445,000

St Charles/Campton Hills-

                New-17 $139,9000-$2,000,000

                Closed-26 $170,000-$748,500

West Chicago-New 10 $175,000-$491,028

                       Closed-10 $208,000-$435,000

Yorkville-New 29 $214,900-$489,000

              Closed-9 $240,000-$536,500

Contracts accepted on single family homes

Market update Fox Valley week 26-Contracts accepted this weekContracts accepted on single family homes were down 4.49%.  383 accepted this week compared to 401 the week before.  More inventory will help to bring these numbers up.  There just is not enough homes for sale for the amount of buyers that are trying to find a home.  Interest rates are fantastic!

Look at the communities that sellers accepted the most contracts:

Aurora-57                            Batavia-13

Bolingbrook-27                    Montgomery-16

Naperville-83                        Oswego-22

Plainfield-47                         St Charles/Campton Hills-22

Sugar Grove-10                    West Chicago-11


Only 2 short sales were accepted this week.  1 each in Oswego and Plano.  We hope these numbers do not increase with people out of work due to the pandemic.

Sellers accepted contracts that are contingent on the buyer closing on their current home.  21 with a kick-out clause of 72 ours, 18 with 48 hours and 9 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyers selling and closing on their current home.  4 with a kick-out clause of 72 hours, 3 with 48 ours and 1 with 24 hours.

2020 by the month and a look back at 2019 and 2018

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                                       1,352   1,010         1,444

June                                       1,232      908         1,534

Totals                                     6,790   4,506         6,714


January                                    878       407            568

February                               1,032       463            832

March                                   1,173       915        1,375

April                                     1,594       792        1,307

May                                      1,645       995        1,280

June                                     1,643    1,253        1,218

Totals                                    7,965   4,825         6,580


January                                   808       489            606

February                              1,040       444            856

March                                  1,549       907         1,564

April                                    1,515       836         1,278

May                                     1,569    1,066         1,344

June                                     1,828    1,720         1,474

Totals                                    8,309   5,462          7,122

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.

Thinking about selling your home this year? Now is the time to get it on the market when buyers are out there looking while interest rates are fantastic.  Let us update the value of your home in today’s market.  We will provide you with a net proceeds that shows you the expenses to sell.  This will be updated when an offer comes in and we know all the terms.

If you are thinking about buying a home the first thing you need to do is call a loan officer.  Have your income taxes available, check stubs, bank statements and any car loans or other monthly payments handy.  They will let you know what else you need then keep it in a folder so you have it handy in case they request it again.  If you need recommendations we would be happy to give you a few to contact so you can decide who you would like to work with.  They will give you a letter showing what price and what type of loan will work out best for you.  This will go with an offer when you find the right home.

Check out some great resources:

Market update Fox Valley week 26.  Have a great week!

Market update Fox Valley week 26Kristine 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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