Market update Fox Valley week 50

 

 

 

 

 

 

Market update Fox Valley week 50.   New listings of single family homes went up 13.08%.  147 this week compared to 130 the week before.  It bounced up slightly after the holiday.

Closed listings of single family homes went down 18.03%.  241 this week compared to 294 the week before.  It will increase as we head closer to the end of the month when most buyers want to close.

Look at the communities that had the most activity this week:

Aurora-New 23 $154,899

            Closed-38 $104,999-$525,000

Bolingbrook-New 6 $210,000-$445,000

                    Closed-15 $145,000-$426,000

Geneva-New 4 $99,000-$414,900

             Closed-15 $198,000-$685,000

Montgomery-New 2 $221,000-$295,000

                     Closed-10 $170,000-$299,900

Naperville-New 28 $267,500-$2,300,000

                 Closed-27 $241,500-$1,320,000

North Aurora-New 4 $209,000-$499,900

                      Closed-10 $206,000-$409,900

Oswego-New 11 $225,000-$695,000

             Closed-14 $226,000-$460,000

Plainfield-New 18 $212,900-$650,000

                Closed-31 $188,210-$550,000

St Charles/Campton Hills-

                New-15 $170,000-$1,295,000

                Closed-20 $233,000-$865,000

Yorkville-New 3 $205,000-$378,391

              Closed-11 $135,000-$420,000

Contracts accepted this week

Contracts accepted this week on single family homes are up 3.74%.  194 this week compared to 187 the week before.  Lower inventory and the upcoming holidays are contributing to the lower increase of activity.  People are focusing on getting ready for the holidays.

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

Aurora-37                             Bolingbrook-12

Naperville-22                        Oswego-10

Plainfield-22                         St Charles/Campton Hills-14

No short sales this week received contracts.

Sellers accepted contracts that are contingent on the buyer closing on their current home.  7 with a kick-out clause of 72 hours , 6 with 48 hours and 3 with 24 hours.

Also, sellers accepted contracts that are contingent on the buyer selling and closing on their current home.  4 with a kick-out clause of 72 hours, 4 with 48 hours and 1 with 24 hours.

It still continues to be a sellers market.  Fewer homes are going on the market but they are selling right away once they do.  If you are waiting for the New Year to put your home on the market now is a good time to discuss the process with you.

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               277          441              381

Totals                 12107      11339         13744

September was the best month so far in 2020 for closed homes.  Closed homes is the most important column to look at.  This is actual numbers.  New listings and contracts accepted can both have number that were counted more than once.  A new listing can be relisted as new even though it has been on the market before.  Also for contract accepted.  Sometimes a contract does not make it through the home inspection and attorney review period or something might come up on a buyers credit that did not show up initially so they do not get approved.  The home goes back on the market and gets another contract.

It really has been a better year than we expected during a pandemic.  We think 2021 will continue to be a sellers market.  Interest rates continue to be fantastic.  If you have thought about refinancing to get a better rate you might think about moving instead.

Contact us

Contact 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.

Thinking about selling your home?  Request a home valuation so we can show you what your home is worth in today’s market.  We will provide you with a net proceeds that shows you the expenses to sell so you can see where you are at.  This will be update when an offer comes in and we know all the terms.

Are you thinking about buying a home?  You will need to contact a loan officer to get prequalified.  Start a folder and put in the last 2 years of tax returns, pay stubs, bank statements, credit card information, car payment and any other payments you make monthly.  The loan officer will need this information and they might ask for it again during the loan process so it is a good idea to keep it handy.

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 what information you are looking for so we can direct you in the right place.  We can do zoom meetings to go over information if that helps and you do not want to meet in person.  You can also face time video and walk me through your home so I can see it to do a market analysis.  There are 3D photo programs that can be set up if you are worried about people walking through your home.  If you haven’t seen one of them they are like walking through each room on your computer or phone.

Market update Fox Valley week 50.  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