Market update Fox Valley week 41
Market update Fox Valley week 41. New listings this week were similar to last week. 256 new listings of single family homes compared to 253 the week before. Consistency is definitely better than a down turn but it just never seems to be enough. Inventory remains severely low. As fast a they come on the market they are snapped up unless they are priced way too high.
Closed listing were down slightly over 29%. 262 closed homes this week compared to 371 the week before. That is the difference between the beginning of the month and the end of the month. 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 40 $120,000-$715,000
Batavia-New 10 $140,000-$549,900
Bolingbrook-New 15 $189,900-$498,900
Geneva-New 9 $294,000-$999,000
Naperville-New 51 $299,000-$6,000,000
Oswego-New 12 $234,900-$995,000
Plainfield-New 25 $200,000-$685,000
St Charles/Campton Hills-
New 21 $179,500-$869,900
West Chicago-New 12 $150,000-$449,900
Yorkville-New 12 $144,900-$735,000
Contracts accepted this week
Contracts accepted this week are consistent. 289 single family homes this week compared to 292 the week before. That is consistent! Buyers are ready to go and step up to write offers.
Take a look at the communities sellers accepted the most contracts this week:
St Charles/Campton Hills-14 Yorkville-12
5 short sales were accepted this week by sellers. 1 each in Aurora, Naperville, North Aurora, Oswego and Winfield. 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. 4 with a kick-out clause of 72 hours and 17 with 48 hours.
Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours and 6 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 1176 1503 1503
October 256 262 289
Totals 10676 9059 11794
Closed is the column you want to focus on. September is the best month so far for closings followed by July and then August. Closed are actual numbers. New listings sometimes go off the market and then go back on or get relisted as new even if they are not. Contracts accepted sometimes do not make it past the home inspection and attorney review. They go back on the market and then accept another contract. That is why there is such a difference with the numbers.
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.
It is still a great time to put your home on the market. Request a home valuation so you know what your home is worth in today’s market. A net proceeds will be provided that shows you an estimate of expenses to sell. We will update this when an offer comes in and we know all the terms so you can make a good decision.
Are you thinking about buying a home? You need to get a file ready with a couple years of taxes, bank statements and any loans that you pay for monthly also credit card information. Call a loan officer and they will get you qualified so you know the price range and type of loan that will work out best for you. They will provide you with a letter that will go with an offer when you find a home so you can show the seller that you do qualify to buy their home. Sellers will not make a decision without it. You need to update this if it goes beyond 30 days.
Take a look at 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
The interest rate you will receive will depend on your credit score. You might need to work on it so you get a better interest rate. The loan officer will guide you with this. If you need recommendations for a loan officer, home inspector or attorney just let us know and we will provide you with a few names and phone numbers so you can contact them and decide who you want to work with.
Market update Fox Valley week 41. Have a great week!
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101