Market update Fox Valley week 32

Market update Fox Valley week 32.  New listings were consistent this week with the week before.  270 this week compared to 284 the week before.  We love consistency but not with new listings right now.  We need to drastically increase new listings.  Inventory is extremely low.  Now is a great time to get your home on the market.

Closed listings are down slightly over 24% this week.  338 closed single family homes this week compared to 445 the week before.  That is the difference between the end of the month and the beginning.  Most buyers want to close at the end of the month.

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

Aurora-New 32 $135,000-$425,000

            Closed-43 $92,412-$703,000

Bolingbrook-New 19 $225,000-$579,900

                     Closed-22 $150,000-$450,000

Geneva-New 16 $259,000-$649,900

             Closed-10 $235,000-$459,000

Montgomery-New 13 $194,900-$305,000

                      Closed-10 $109,900-$285,000

Naperville-New 55 $250,000-$1,349,900

                 Closed-69 $235,000-$1,300,000

Oswego-New 10 $275,000-$1,375,000

              Closed-21 $123,000-$509,961

Plainfield-New 27 $165,000-$499,000

                Closed-50 $105,000-$800,000

St Charles/Campton Hills-

                 New-24 $219,900-$870,000

                 Closed-18 $200,000-$950,000

West Chicago-New 10 $159,900-$375,000

                       Closed-9 $179,900-$464,000

Yorkville-New 14 $105,000-$699,900

              Closed-13 $245,000-$555,000

Price ranges might help you decide what communities to look in.

Contracts accepted this week

Contracts accepted this week were up 11.30% from the week before.  384 this week compared to 345 the week before.  Buyers are still trying to find a home.  We need more homes on the market to show.

Look at the communities sellers accepted the most contracts:

Aurora-49                             Batavia-10

Bolingbrook-24                     Elburn-12

Geneva-19                            Naperville-67

Oswego-14                           Plainfield-53

Plano-11                              St Charles/Campton Hills-37

West Chicago-15                  Yorkville-16

7 short sales were accepted by sellers this week.  2 in Aurora and Plano. 1 each in Oswego, Plainfield and Sycamore.  Now they will be submitted to the lender to see if they will also accept.

Sellers accepted contracts this week that are contingent on the buyer closing on their current home.  12 with a kick-out clause of 72 hours, 21 with 48 hours and 7 with 24 hours. 

Also, sellers accepted contracts this week that are contingent on the buyer selling and closing on their current home.  7 with a kick-out clause of 72 hours, 8 with 48 hours and 2 with 24 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                         1,352   1,010           1,444

June                        1,232       908           1,534

July                         1,417    1,614           1,852

August                        279       338              384

Total                        8,486    6,458           8,950

July is the best month so far for this year.  Check back with us every Saturday for an update.  At the end of the month we will compare to 2019 and 2018 so you can see the changes from year to year.

Contact us

Call us at 630-503-6555 for all of your real estate questions.  Your goal is our goal. We will do everything we can to help you reach your goal.

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 so you know where you are at.  This will be updated when an offer comes in and we know all the terms.

If you are thinking about buying a home you need to talk to a loan officer and have your documents ready.  They will let you know what type of loan and what price range works out best for you.  A letter will be emailed to you showing what you qualify for. This will go with an offer when you find the home you like.

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

You might be downsizing or wanting a larger home.  Looking for a different school district.  Family member might have passed and you need to sell their home.  Whatever the reason you are wanting to buy or sell we are here to help guide you through the process.

Market update Fox Valley week 32.  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