Market update Fox Valley week 36
Closed listings of single family homes were also up this week. 357 this week compared to 325 the week before. Some of these were on the 31st of August and we are including them in this first week of September. Most buyers do not want to close in the beginning of the month because they need to bring a whole month of interest along with other closing costs to the closing. Some of these closings are getting pushed to the next week because of the loan not processing in time. There is a lot of activity along with a lot of homeowners refinancing because the rates are so fantastic right now.
Take a look at the communities with the most activity this week:
Aurora-New 24 $115,000-$465,000
Batavia-New 12 $210,000-$609,900
Bolingbrook-New 14 $174,900-$475,000
Geneva-New 11 $250,000-$675,000
Montgomery-New 3 $225,000-$239,000
Naperville-New 55 $270,000-$1,975,000
North Aurora-New 4 $194,000-$369,000
Oswego-New 11 $215,000-$345,900
Plainfield-New 32 $230,000-$648,731
St Charles/Campton Hills-
New 23 $185,000-$1,250,000
Sycamore-New 5 $119,000-$535,000
West Chicago-New 5 $197,000-$278,000
Yorkville-New 14 $89,900-$465,000
Are you looking for a community that consistently has high turnover or maybe a smaller community that there is rarely a home available.
Contracts accepted this week
Contracts accepted this week were slightly lower. 334 this week compared to 345 the week before. There were more contracts accepted this week than new listings. We continue to have low inventory. This is a fantastic time to sell with little competition.
Look at the communities that sellers accepted the most contracts:
Plainfield-47 St Charles/Campton Hills-22
4 short sales were accepted this week by sellers. 1 each in Naperville, Plano, West Chicago & Yorkville. 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. 10 with a kick-out of 72 hours, 19 with 48 hours and 1 with 24 hours.
Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 8 with a kick-out of 72 hours and 5 with 48 hours.
2020 by the month
Month New Closed Contracts accepted
January 1105 566 858
February 1267 529 1024
March 1186 707 1079
April 648 786 775
May 1352 1010 1444
June 1232 908 1534
July 1417 1453 1852
August 1037 1335 1436
September 255 357 334
Totals 9499 7651 10336
July is the best month so far this year. You need to mainly focus on the Closed column. New listings can be misleading. Sometimes the same listing comes up as new after a period of time if it does not sell right away. Contracts accepted do not always close. Sometimes they do not make it past the home inspection and attorney review period so they might go back on the market and then get another contract. We can check on that for you.
Call us at 630-503-6555 with all 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? Request a home valuation so we can let you know what your home is worth in today’s market. We will provide you with a net proceeds that shows you the expenses to sell so you will know where you are at and what you have to work with. This will be updated when an offer comes in and we know all the terms.
Are you thinking about buying a home? You will need to talk to a loan officer first to get pre-qualified so you know what type of loan and what price range will work out best for you. Seller’s want to know that we are showing their home to someone that qualifies for their home.
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
Whether you want to buy your first home, down size or buy something larger to accommodate your needs we will guide you through the process. If you need recommendations for loan officers, real estate attorneys or home inspector we will give you a few names and phone numbers to contact to see who you would like to work with.
Market update Fox Valley week 36. Have a great week!
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101