Market update Fox Valley week 40

Market update Fox Valley week 40Market update Fox Valley week 40.

 

 

 

 

 

 

 

 

Market update Fox Valley week 40.  New listings were up almost 11%.  253 single family  homes this week compared to 228 the week before.

Closed listings of single family homes were up 41.60%.  371 this week compared to 262 the week before.  I am including this week in the September totals because the last 3 business days of the month were Monday through Wednesday.  They were likely the busiest days of the month for closings.  Buyers want to close at the end of the month so they bring in less money to closing for interest for the month.

Take a look at the communities that had the most activity this week:

Aurora-New 27 $134,999-$549,900

            Closed-55 $100,000-$575,000

Batavia-New 9 $200,000-$569,000

             Closed-`6 $161,000-$585,879

Bolingbrook-New 14 $159,000-$365,000

                     Closed-18 $200,000-$470,000

Geneva-New 19 $237,500-$724.900

             Closed-23 $124,000-$1.000.000

Naperville-New 51 $229,000-$1,350,000

                 Closed-60 $281,000-$1,015,000

Oswego-New 26 $240,000-$650,000

              Closed-23 $150,000-$522,500

Plainfield-New 18 $89,900-$497,900

                Closed-55 $193,000-$622,000

St Charles/Campton Hills-

                New 12 $258,000-$975,000

                Closed-27 $234,500-$1,229,000

West Chicago-New 15 $199.900-$925,000

                      Closed-6 $230,000-$460,000

Yorkville-New 9 $230,000-$459,000

              Closed-17 $219,000-$479,800

Contracts accepted this week on single family homes

Market update Fox Valley week 40-Contracts accepted this week

Contracts accepted this week are down almost 4%.  292 contracts accepted this week compared to 304 the week before.  That is not down very much and it most likely is due to the continued extremely low inventory of homes for buyers to even look at.  Especially in the price range under $200,000.  There is just not much there.

Look at the communities that sellers accepted the most contracts:

Aurora-47                                Batavia-13

Bolingbrook-22                        Geneva-11

Montgomery-11                       Naperville-44

Oswego-18                               Plainfield-34

St Charles/Campton Hills-20    Yorkville-14

No short sales were accepted by sellers this week.

Sellers accepted contracts that are contingent on the buyer closing on their current home.  10 with a kick-out clause of 72 hours, 11 with 48 hours and 6 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, 5 with 48 hours and 2 with 24 hours.

Sellers have confidence in the market to accept contingencies on buyers homes.

 

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

2020

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                 1176    1503              1503

Totals                       10420    8797           11505

2019

January                        878      407                568

February                    1032      463                832

March                        1731      915             1375

April                          1594      792             1307

May                           1645      995             1280

June                          1643    1253             1218

July                           1423    1008             1090

August                      1585    1330             1196

September                1164      765                869

Totals                      12695   7928              9735

2018

January                       808     489                 606

February                   1040     444                 856

March                       1549     907               1564

April                         1515     836               1278

May                          1569  1066                1344

June                         1828   1720                1474

July                          1318     994                1061

August                     1294   1032                  989

September               1479    1093               1078

Totals                     12400    8581            10250

2020 is the best year out of the 3 for closings so far and that is the one to really focus on.  These are real numbers. Facts of what the market did.

2019 is the best year for new listings.  These numbers are not facts.  Some of these new listings can be relisted again as a new listing even if they have already been on the market.

2018 is the best year for contracts accepted.  These numbers are also not facts.  It is great that that many buyers were ready and willing to write an offer.  Some of these contracts do not make it past the home inspection and attorney review.  They can go back on the market and then can get another contract accepted on them.  This is why these numbers are so far apart.

Contact us

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 before the end of the year?  Let us do a market analysis on your home to update the value in today’s market.  We will provide you with a net proceeds that shows you an estimate of expenses to sell.  This will be updated when an offer comes in and we know all the terms.

Are you looking to buy a home?  If you have not already talked to a loan officer we can make a few recommendations for ones to call to see who you would like to work with.  Get ready a couple of years tax returns, pay stubs, any monthly payments you make and credit card information.  They will let you know what else you need.  Keep all this in a folder that is handy because they will probably ask you for these things again.  Loan officer will provide you with a letter showing what you qualify for and what type of loan will work out best for you.  This letter will go with an offer when you find the right home.  It will show sellers that you do qualify for their home.

Check out some great resources:

Let us know if we can direct you to any other information you are looking for.

Market update Fox Valley week 40.  Have a great week!

Market update Fox Valley week 40Kristine 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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