2021 Real Estate Market Update Week 18
2021 real estate market update week 18. New listings of single family homes were down this week. 236 this week compared to 273 the week before. We are not heading in the right direction. Prices will continue to rise until we get enough listings to satisfy the buyers that are out there looking.
Closed listings of single family homes are about the same this week. 278 this week compared to 280 the week before. That is pretty consistent, and it shows that buyers are still out there willing to write offers even with the increase in prices.
Take a look at the communities that have the most activity this week:
Aurora-New 37 $99,900-$899,900
Bolingbrook-New 19 $175,000-$469,000
Geneva-New 8 $225,000-$559,900
Montgomery-New 2 $205,000-$315,000
Naperville-New 48 $289,000-$3,600,000
Oswego-New 9 $185,000-$399,000
Plainfield-New 29 $249,900-$750,000
St Charles/ Campton Hills-
Sycamore-New 11 $149,900-$450,000
Median list price this week is $350,000. Last week it was $365,000
Median Closed price this week is $360,000. Last week it was $360,450.
Contracts accepted this week
Contracts accepted this week on single family homes were up. 340 this week compared to 328 the week before. It is a great time to sell!
Look at the communities sellers accepted the most contracts this week:
Plainfield-41 St Charles/Campton Hills-25
Sycamore-14 West Chicago-11
1 short sale was accepted by a seller on a single family home. It was in Sycamore. 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, 10 with 48 hours and 4 with 24 hours.
Also, sellers accepted contracts that are contingent on the buyer selling, and closing on their current home. 1 with a kick-out clause of 72 hours, 3 with 48 hours and 1 with 24 hours.
2021 real estate market update by the month
Month New Closed Contracts accepted
January 543 649 829
February 561 604 778
March 993 1099 1455
April 1006 926 1387
May 236 278 340
Totals 3339 3556 4789
The closed column is the most important one. This is actual numbers. The new and contracts accepted could be counted more than once if a home is relisted as new, or has a contract accepted, and then it does not make it through the home inspection and attorney review period. It could get relisted again, and then another contract accepted.
Check back with us every Saturday for the real estate market update. At the end of each month we will take a look back at 2020 and 2019 so you an compare to see how this year is going.
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.
It is a great time sell! Prices are increasing. Request a home valuation and give us some information about your home, and what has been recently updated. We will provide you with a net proceeds that shows you the expenses to sell. 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 this year? You need to talk to a loan officer and submit all your financial information so they can get you pre-approved. You need to take this extra step and get pre-approved with the market right now. Homes are selling very fast with multiple offers. You need to be ready to go look as soon as a home hits the market, or it will be gone. The loan officer will give you a letter showing what you qualify for, and what type of loan. This will go with an offer when you find a home.
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IHDA programs
One of the IDHA programs might help payoff student debt, and another one if you stay there at least 5 years you might not have to pay it back. It is worth your time to check them out.
Do you need recommendations for loan officers, real estate attorneys or home inspectors? We can provide a few of each so you can decide who you want to work with.
All data information used is from our multiple listing service MRED, LLC.
2021 real estate market update week 18. Have a great week!
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101