Market update Fox Valley week 53

Market update Fox Valley week 53.  Yes week 53.  When a leap year and the first day of the year is a Wednesday we have 53 weeks in the year according to timeanddate.com.   Most of the business days this week were in 2020.

New listings of single family homes were up this week.  73 this week compared to 63 the week before.  Not too bad for in between 2 holidays.

Closed listings this week of single family homes were also slightly up.  178 this week compared to 163 the week before.

Market update Fox Valley week 53

 

 

 

 

 

 

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

Aurora-New 11 $124,900-$325,000

            Closed-31 $138,000-$620,000

Bolingbrook-New 6 $195,000-$364,000

                     Closed-11 $199,000-$560,000

Naperville-New 8 $272,900-$879,000

                 Closed-28 $265,000-$3,400,000

Plainfield-New 13 $194,888-$464,900

                Closed-27 $165,000-$549,999

St Charles/Campton Hills-

                New 6 $332,500-$1,275,000

                Closed-14 $191,000-$775,000

These are the communities that perform higher than most week after week throughout the year.

Contracts accepted this week

We saw a very nice increase in contracts accepted this week by sellers.  120 this week compared to 93 the week before.

Market update Fox Valley week 53-Contracts accepted this week

 

 

 

 

 

 

Buyers did not sit on the sidelines between the holidays.  2021 is expected to be more of the same as 2020.  We are hoping for more inventory so buyers have more to choose from.

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

Aurora-25                             Naperville-24

Plainfield-14                         St Charles/Campton Hills-10

1 short sale was accepted by a seller this week.  It was in Bolingbrook.  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. 2 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 buyers selling and closing on their current home.  1 with a kick-out clause of 48 hours and 1 with 24 hours.

2020 by the month and a look back at 2019 and 2018

2020

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                 513        971                 783

Totals                   12343   11869             14146

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

December                496       638                 497

Totals                  15129   10250            11847

2018

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

October                1042      712                  748

November               729      739                  653

December               665      762                  602

Totals                 14836  10794             12253

Of the 3 years 2020 was the best for closed listings of single family homes.  Closed listings is the most important column to look at because these are actual numbers. 

New listing and contracts accepted both can end up listed more than once.  Sometimes agents after a couple months add them as a new listing again.  Lately not too many properties stay on the market that long though.  Listings of homes that seller accepts a contract sometimes do not make it past the home inspection and attorney review period.

Even though new listings might of been counted more than once, 2020 had the least amount of new listings with the most closed homes.  That is why prices are rising the way they are.  Inventory is severely low.

2020 also saw the most contracts accepted.  Buyers are ready to go.  They are not afraid to write the offer.  They know they are up against multiple offers so they are writing their best offer right away.

The lowest month for closed listing in 2020 was 529 in February and it was higher than the lowest month in the previous 2 years.

2018 saw the highest amount of closed listings in June and it was highest of the 3 years.  August was the highest amount of closed in 2019 but it was below the highest month of 2020 that was in September.  Most years you see the highest amount during the summer months and before school starts.  This year with e-learning you can see that the market was extended until October

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 in 2021?  Request a home valuation so we can 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 your home.  This will be updated when an offer comes in and we know all the terms so you can make a good decision.

If you are wanting to buy a home in 2021 you need to get some items together and contact a loan officer. They will want a couple of years of tax returns, pay stubs, bank statements, credit card information, car payments and any other monthly payments you have.  Once they go over your credit information they will give you a letter that shows you what type of loan will work out best for you and what price.  This letter will go with an offer when you find a home.  It needs to be updated if it is older than 30 days.

Check out some great resources that might help you:

If you are looking for any other information let us know and we will point you in the right direction.  We can make recommendations for loan officers, real estate attorneys and home inspectors we have successfully worked with in the past.

Market update Fox Valley week 53.  Happy New Year!  Have a great week.

Market update Fox Valley week 53Kristine Heiman, Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

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