12-28-19 Market Update Fox Valley
12-28-19 market update Fox Valley. We had a holiday right in the middle of the week so numbers are way off this week. New listings of single family homes were about half of what they were. 58 this week compared to 129 the week before. Next week we have New Year’s Eve and New Year’s Day in the middle of the week again so we will start off the New Year the same way. Also the last 3 days of this year will be included next week because we go Saturday to Saturday.
Closed listings were also about half of what they were. 106 this week compared to 208 the week before. It would be tough to do the holiday and move at the same time.
Take a look at the communities with the most activity this week:
Aurora-New 7 $80,000-$260,000
Naperville-New 9 $285,000-$669,000
Plainfield-New 10 $229,000-$525,500
Contracts accepted this week
Contracts accepted this week were not too bad for a holiday week. 98 this week compared to 117 the week before. Happy Buyers and Sellers that found a home or received a contract on their home. What a great present!
Look at the communities with the most contracts accepted:
Aurora-14 Naperville-15 Plainfield-15
2 short sales accepted by Sellers this week. 1 each in Elburn and Winfield. Now they will be submitted to the lender to see if they will also accept as written.
Sellers accepted contracts that are contingent on the Buyer closing on their current home. 2 with a kick-out clause of 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 48 hours and 1 with 24 hours. Both identical. Out of 98 accepted only 6 contingent on a closing or sale and closing. Sellers still have confidence that will happen. Even in the slower months things are still happening for the ones that are priced right.
2019 by the month
Month New Closed Contract accepted
January 878 407 608
February 1,032 465 832
March 1,731 915 1,375
April 1,594 790 1,307
May 2,004 1,391 1,665
June 1,643 1,253 1,218
July 1,423 1,029 1,090
August 1,585 1,403 1,211
September 1,164 765 869
October 1,259 957 959
November 679 727 656
December 496 661 497
Total 15.488 10,763 12,287
May was the biggest month for new listings this year. August for closings and May for contracts accepted. You can see when the new listings go up so does everything else. The school year cycle is still the busiest. Activity happens year round. Some of the new listings get relisted and some of the contracts accepted come back on the market for various reasons and go contract accepted again. Closed listings is the only one that you can count on.
Call us at 630-503-6555 for all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goals.
Anytime of the year is the right time to sell if it is priced right. You might want to beat the Spring rush so you don’t have so much competition to sell.
Calling a loan officer is your first step if you are thinking about buying in 2020. You need to find out what type of loan will work out best for your situation and what price range will work out best for you. They will give you letter stating what you qualify for that will go with an offer when you find the right home. It will need to be updated if it is older than 30 days.
Check our 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 communities
- School ratings in Illinois
Some lenders also offer special programs and assistance so also check with them.
12-28-19 market update Fox Valley. Have a great week and have a Happy and safe New Year!
Kristine Heiman, Designated Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
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