Market update Fox Valley week 48

Market update Fox Valley week 48.  New listings of single family homes are down 39.34%.  91 this week compared to 150 the week before.  It is a holiday week so that makes it tough.  This week we should bounce back.

Market update Fox Valley week 48

 

 

 

 

 

 

Closed listings of single family homes were also down 37.34%.  193 this week compared to 308 the week before.  When a holiday is at the end of the month closings either get moved up or pushed back.

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

Aurora-New 14 $114,900-$449,995

            Closed-27 $60,000-$663,000

Bolingbrook-New 5 $209,900-$345,000

                     Closed-16 $140,000-$359,000

Naperville-New 12 $384,900-$1,325,000

                 Closed-25 $330,000-$760,000

Oswego-New 3 $234,000-$435,000

              Closed-13 $252,000-$575,000

Plainfield-New 14 $185,000-$849,900

                Closed-18 $208,000-$790,000

St Charles/Campton Hills-

                New 9 $224,900-$899,000

                Closed-19 $138,000-$775,000

Yorkville-New 2 $359,990-$369,000

              Closed-12 $239,900-$495,000

Contracts accepted this week

Market update Fox Vallley week 48-Contracts accepted this week

 

 

 

 

 

 

Contracts accepted on single family homes are down by 13.22%.  197 this week compared to 227 the week before.  That is not too bad for a holiday week!

Look at the communities that sellers accepted the most contracts this week:

Aurora 29                                   Bolingbrook-22

Naperville-35                              Plainfield-23

St Charles/Campton Hills-17

Only 1 short sale was accepted this week by a seller.  It was in Naperville.  Now it 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.  3 with a kick-out clause of 72 hours, 4 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.  2 with a kick-out clause of 72 hours, 5 with 48 hours and 1 with 24 hours.

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

October                     843       1116             1159

November                 567          985               699

Totals                   11830      10898          13363

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

October                 1041          738               776

November                897          946               839

Totals                   14633       9612           11350

2018

January                   808           489               606

February               1040           444               856

March                   1549           907            1564

April                     1515           836            1278

May                      1645           995            1280

June                     1828         1720            1474

July                      1318           994            1061

August                 1294         1032              989

September           1479         1093            1078

October               1042           712               748

November             729            739               653

Totals                14247         9961          11587

Closed is the most important column to look at.  These are actual numbers and 2020 is doing the best so far comparing to 2019 and 2018.

New listings for 2020 is way behind 2019 and 2018 but these numbers are not accurate.  Some of these have been relisted as new even though they have been on the market.  New construction has helped buyers that are looking and just can’t find anything.  Homeowners don’t realize how many buyers are out there looking.  They think because of the pandemic that housing isn’t moving.  We are still getting multiple offers on homes.  Inventory of homes for sale has been severely low for a few years causing pricing to really go up this year but interest rates are fantastic.

Contracts accepted numbers are also not accurate.  Some of these contracts do not make it through the home inspection and attorney review period.  They go back on the market and then get another contract.   Buyers in this market know they have to be ready to write a contract or they will lose out on a home.

Check back with us every Saturday for the market update Fox Valley.  At the end of each month we will compare to 2019 and 2018.

Contact us

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

Buyers are looking for a home that is ready to move into. If you are thinking about selling make sure you pack everything away.  Fresh paint does wonders.  Make sure your home is sparkling clean or they will just move onto the next home.  Request a home valuation so we can show you what it is worth in today’s market.  I will provide you with a net proceeds that shows you an estimate of the expenses of selling a home.  This will be updated when an offer comes in and we know all the terms.

Are you thinking about buying a home?  Get a couple of years tax returns, pay stubs, bank statements and any monthly loans or credit cards you have together.  Contact a loan officer and get prequalified.  They will provide you with a letter showing the type of loan and what price would work out best for you.  This will go with an offer when you find a home so you can show the owner that you do qualify to buy their home.  Need a recommendation?  Let us know and I will provide you with a few that we have successfully worked with and you can decide who you want to work with.

Check out some great resources:

Let us know if there is any other information you are looking for.  We will be happy to point you in the right direction.

Market update Fox Valley week 48.  I hope you enjoyed a great Thanksgiving.  Have a great week!

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