Market 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
Batavia-New 9 $200,000-$569,000
Bolingbrook-New 14 $159,000-$365,000
Geneva-New 19 $237,500-$724.900
Naperville-New 51 $229,000-$1,350,000
Oswego-New 26 $240,000-$650,000
Plainfield-New 18 $89,900-$497,900
St Charles/Campton Hills-
New 12 $258,000-$975,000
West Chicago-New 15 $199.900-$925,000
Yorkville-New 9 $230,000-$459,000
Contracts accepted this week on single family homes
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:
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
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
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
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.
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:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment information
- Illinois homeowner assistance and some community assistance
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!
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101