Market update Fox Valley week 49

Market update Fox Valley week 49.  New listings of single family homes are up 42.86%.  130 this week compared to 91 the week before that was Thanksgiving week.  Holidays can make a big difference.

Closed listings of single family homes were up 52.33%.  294 this week compared to 193 the week before.  When you have a holiday at the end of the month some of the closings get pushed back to beginning of the next month.  It is hard to get them all in in 3 days.

We are heading into the final weeks of the year.  Most of the sales now will most likely close in the new year unless it is a cash sale.

Take a look at the communities with the most activity this week:

Aurora-New 18 $129,900-$459,000

            Closed-43 $120,000-$449,000

Bolingbrook-New 16 $209,900-$450,990

                     Closed-21 $164,000-$560,000

Geneva-New 3 $410,000-$958,900

             Closed-12 $337,000-$815,000

Montgomery-New 3 $270,000-$335,000

                      Closed-11 $186,000-$351,000

Naperville-New 27 $288,050-$1,298,700

                 Closed-48 $270,000-$1,950,000

Oswego-New 6 $199,900-$389,900

              Closed-11 $190,000-$429,365

Plainfield-New 10 $185,873-$999,800

                Closed-27 $231,500-$389,000

St Charles/Campton Hills-

                 New 11 $250,000-$824,900

                 Closed-28 $186,000-$1,400,000

West Chicago-New 6 $214,900-$339,900

                       Closed-12 $162,000-$550,000

Yorkville-New 9 $235,000-$429,900

              Closed-15 $193,000-$359,000

Contracts accepted this week

 

 

 

 

 

 

Contracts accepted this week were down 5.08%.  187 this week compared to 197 the week before.  Not too bad when the week before we were way down in new listings.  Not a lot of choices for the amount of buyers that are out there.  We are still seeing multiple offers.

You need to have a good strategy in place right now if you are a buyer.  You need to be ready to go look and not hesitate to write an offer.

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

Aurora-28                                      Bolingbrook-17

Naperville-23                                 Plainfield-31

St Charles/Campton Hills-17

2 short sales were accepted this week by sellers.  1 each in Aurora and Batavia.  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.  5 with a kick-out clause of 72 hours,  2 with 48 hours and also 2 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 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                     843      1116             1159

November                 567        985                699

December                 130        294                187

Totals                   11960    11192           13550

The closed column is the most important one.  These numbers show you what actually happened.  New listings and contracts accepted columns are inflated with homes that could of been relisted as new or received a contract and did not go through and then received another contract.

September so far is the best month for closed homes.  Usually it drops off a little after school starts but not this year.  It is still a sellers market.  There are more buyers than homes for sale.  This has caused prices to rise.  Interest rates are still fantastic!

Some people don’t realize how good the market is right now.  They think because of the pandemic the market is not moving but it sure is.

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 your home?  Request a home valuation and we will let you know what your home is worth in today’s market.  We will provide you with a net proceeds that shows you an estimate of expenses to sell so you will have an idea of what you have to work with.  This will be updated 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?  Your first step is to get a couple of years tax returns, pay stubs, bank statements and any other thing that you pay monthly like credit cards or car payments together.  Call a loan officer to get prequalified.  They will provide you with a letter showing the type of loan and the price that will work out best for you.  When you find a home we will need to send this with an offer to show sellers that you qualify.

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

If you need any other information let us know and we will point you in the right direction.  Do you need recommendations for real estate attorneys, home inspectors or information on radon?  Let us know and we will provide you with people that we have worked with before or we can send you pamphlets on the information that you are looking for.

Market update Fox Valley week 49.  Have a great week!

Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101