Fox Valley home prices February 25th

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Fox Valley home prices February 25th.  Weather here in the Fox Valley area of Illinois is like being on a roller coaster.  This next week we will go from 40° to 60° back to 40° again.

New listings are down.  120 this week compared to 169 the previous week.

Closed listings are up.  103 this week compared to 88 the previous week.

Fox Valley home prices February 25th

Aurora-New 16 $135,000-$710,000

             Closed-10 $160,000-$701,000

Naperville-New 19 $450,000-$3,250,000

                   Closed-12 $345,000-$1,560,000

Plainfield-New 24 $220,000-$595,000

                  Closed-18 $234,000-$649,900

Yorkville-New 1 $669,000

                Closed-10 $330,000-$550,500

Click on the photo above to see other communities that had activity this week.  We are just highlighted the communities with the most activity.

Financing used, median price, and 2,000 SF or more

Median list price this week $400,000, last week $399,990

Closed median price this week $385,000, last week $339,000.

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Stats for week ending February 25th

Conventional financing was used to close on 70 homes this week at median price $386,500 with 46 days average market time, last week 61 homes at median price $335,000 with 65 days average market time.

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Conventional financing used to close for week ending February 25th

Cash was used to close on 13 homes this week at median price $415,000 with 45 days average market time, last week 19 homes at median price $270,000 with 69 days average market time.

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Cash used to close for week ending February 25th

FHA financing was used to close on 12 homes this week with median price $299,500 with 70 days average market time, last week 6 homes at median price $306,500 with 72 days average market time.

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FHA financing used to close for week ending February 25th

VA financing was used to close on 8 homes this week at median price $465,000 with 46 days average market time, last week 1 homes $423,990 with 53 days average market time.

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VA financing used to close for week ending February 25th

2,000 square feet or more closed on 63 homes this week at median price $450,000 with 58 days average market time, last week 51 homes at median price $450,000 with 63 days average market time. Minimum price this week $245,000, last week $108,000.

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2,000 SF or more closed for week ending February 25th

Conventional financing continues to be the financing to use.   We will see if lowering the MIP for FHA loans March 20th will have an impact.  Stay tuned.

Under contract this week

Homes that went under contract this week are slightly up.  166 this week compared to 152 the previous week.

Fox Valley home prices February 25th-Under contract this week

Aurora-27                            Bolingbrook-11

Naperville-23                      Oswego-15

Plainfield-24                       Yorkville-11

No short sales were accepted by seller’s this week.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 2 with a kick-out clause of 72 hours and 3 with 48 hours.

Also, seller’s accepted contract that are contingent on the buyer selling and closing on their current home.  3 with a kick-our clause  of 72 hours and 1 with 48 hours.

Homes that went under contract this week had a median price $377,400 with 45 days average market time, last week median price $391,950 with 54 days average market time.

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Under contract for week ending February 25th

2023 by the month

Month               New   Closed   Under contract

January              483       326             470

February            503       382             642

Totals                 986       708            1112

Next week we will also take a look back at 2022 and 2021 so you can see how this year is going.

Resources

Click on each bullet point to take you to the site for the information.

Check with your loan officer for the interest rate you will be offered.  Looking at the current rate is fine but you need to know what interest rate you will be offered.  It depends on a few things. One of them is your credit score.

All data was provided by our MLS, MRED, LLC.  It changes throughout the day.

Contact us

Call us at 630-503-6555 with all your real estate questions.  Your goal is our goal.

Fox Valley home prices February 25th.  Have an awesome week!

Kristine Heiman, Designated Managing Broker

SFR, SRS, SRES, AHWD

Best Homes Fox Valley

200 Webster St 

Montgomery, IL 60538

630-503-6555 Ext 101

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