Fox Valley Real Estate Market Update Week 36

Fox Valley Real Estate Market Update Week 36-Cover

Fox Valley real estate market update week 36.  New listings of single family homes were up.  239 this week compared to 204 the week before.  Inventory o f homes continues to be a challenge.  Now that school is back in session there was a slow down.  Hopefully now things will get back to normal and more listings will come on the market.

Closed listings of single family homes were also down.  205 this week compared to 387 the week before.  This is to be expected at the beginning of the month.  It will increase as we head into the end of the month when most buyers want to close.

Fox Valley Real Estate Market Update Week 36

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

Aurora-New 31 $89,900-$485,000

             Closed-37 $164,000-$682,500

Batavia-New 12 $170,000-$579,000

             Closed-7 $250,000-$415,000

Bolingbrook-New 17 $219,000-$455,000

                    Closed-19 $240,000-$495,000

Geneva-New 9 $298,000-$600,000

             Closed-13 $205,000-$635,500

Montgomery-New 11 $164,900-$329,900

                     Closed-8 $122,000-$316,000

Naperville-New 46 $249,000-$2,490,000

                  Closed-28 $280,000-$1,470,000

Oswego-New 12 $255,000-$499,900

              Closed-8 $305,000-$675,000

Plainfield-New 26 $219,900-$799,000

                 Closed-30 $250,000-$575,000

St Charles-New 18 $259,900-$1,895,000

                  Closed-14 $190,000-$2,400,000

Yorkville-New 11 $259,900-$949,000

                Closed-6 $260,000-$340,000

You can see the other communities by clicking on the picture above.

Financing, median price and 2,000 or more square feet

Median list price this week $350,000, last week also $350,000.  Closed median price this week $340,000, last week $345,000.  This is the second week with a decrease.

Fox Valley Real Estate Market Update Week 36-Stats 091121
Median list and closed price this week

 

 

Out of 205 closed single family homes 161 of them used Conventional financing.  21 of them were Cash.

Fox Valley Real Estate Market Update Week 36-Conventional and Cash 091121
Conventional and Cash

20 of the closed single family homes chose FHA financing, and 3 chose VA financing.

Fox Valley Real Estate Market Update Week 36-FHA and VA 091121
FHA and VA financing

127 of them were 2,000 square feet or more this week with a median closed price of $410,000.  Minimum closed price was $191,000.  So if you are looking for a home with this square feet or more, this is the price range for this week.

Fox Valley Real Estate Market Update Week 36-2000 or more sf 091121
2,000 or more square feet

Contracts accepted this week

Contracts accepted this week on single family homes was down.  207 this week compared to 251 the week before.  buyers are still out there looking but they are having a hard time finding what they are looking for with the inventory so low.

Fox Valley Real Estate Market Update Week 36-Contracts accepted this week

Look at the communities that seller’s accepted the most contracts this week:

Aurora-32                                  Bolingbrook-13

Montgomery-13                          Naperville-34

Oswego-10                                 Plainfield-28

St Charles-13

There was 1 short sales accepted this week and it was in Warrenville.  Now it will be submitted to the lender to see if they will also accept.

Seller’s accepted contracts that are contingent on the buyer closing on their current home.  2 with a kick-out clause of 72 hours, 7 with 48 hours, and 3 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home.  2 with a kick-out clause of 72 hours and 5 with 48 hours.

2021 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              1088            1288                 1289

June             1450            1686                 1671

July              1118             1182                  1210

August          1109            1203                  1170

September    443              592                   458

Totals          8311            9229                10247

 June was the best month so far for closings.  Buyer’s could get moved in and enjoy the summer in their new home.  Now would be a good time to get moved in before winter and the holidays.  Homes continue to sell all year.

Check back with us every Saturday.  At the end of the month we compare this year to 2020 and 2019 so you can see how things are going.

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.

Request a home valuation if you are thinking about selling your home.  Tell us a little bit 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 a home?  The first thing you need to do is get all your financial information together and contact a loan officer.  You will need to email or drop off copies of all your financial documents so they can put you through underwriting to get pre approved.  Just calling them and telling them your information is not good enough anymore.  You need to get pre approved so when you find a home you are ready to submit an offer.

When you start the process of looking at homes, you need to be ready to go look when a home hits the market.  If you wait for the weekend it might be gone already.

Resources:

If you need recommendations for loan officer’s, real estate attorney’s, and home inspector’s we would be happy to provide you with a few of each to contact.  You can decide who you want to work with.

All data used is from our MLS MRED, LLC.

As we look back on 20 years since 9/11/01, take a moment to reflect on all the lives lost that day.  We will never forget!

Fox Valley real estate market update week 36.  Have a great week!

Fox Valley real estate market update week 36-Kristine Heiman Managing BrokerKristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

 

 

Fox Valley Real Estate Market Update week 35

Fox Valley Real Estate Market Update Week 35-Cover

Fox Valley real estate market update week 35.  New listings of single family homes are down.  204 this week compared to 221 the week before.  We are not going in the right direction.  Things usually slow down when school starts, but then it starts back up again.

Closed listings of single family homes are up.  387 this week compared to 273 the week before.  Most of these were probably closed on Monday and Tuesday the last 2 days of the month of August.  Most buyers like to close at the end of the month so they can bring less to closings.

Fox Valley Market Update Week 35

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

Aurora-New 22 $169,000-$599,000

             Closed-61 $106,000-$705,000

Batavia-New 6 $114,900-$469,900

             Closed-12 $229,000-$580,000

Bolingbrook-New 13 $220,000-$614,900

                    Closed-28 $157,000-$490,000

Geneva-New 7 $285,000-$995,000

             Closed-13 $264,500-$465,000

Montgomery-New 12 $214,900-$375,000

                     Closed-17 $200,000-$365,000

Naperville-New 46 $275,000-$3,600,000

                  Clsoed-64 $280,000-$2,250,000

Oswego-New 11 $264,900-$675,000

              Closed-17 $225,000-$640,000

Plainfield-New 24 $249,000-$599,900

                Closed-57 $255,000-$525,000

St Charles-New 18 $159,000-$1,345,000

                   Closed-27 $187,250-$1,395,000

Yorkville-New 8 $259,900-$589,900

                Closed-19 $230,000-$739,900

Financing, median price, and 2,000 or more square feet

Median list price this week $350,000, last week $355,000.  Closed median price this week $345,000, last week $355,000.  A slight change from the week before.  Nothing too drastic.

Fox Valley Real Estate Market update week 35-Stats 090421
Median prices this week

Homes closed using conventional financing this week 281, last week 199. Closed this week using Cash 34, last week 33.  This is out of 387 closed this week.  Conventional is still the what most seller’s are looking for.

Fox Valley Real Estate Market Update Week 35- Conventional and Cash 090421
Conventional and Cash

FHA this week 46, last week 34.  VA this week 25, last week 7.  It is great to see more of FHA and VA getting accepted and closed.  They have really struggled to get through earlier this year.  So many of those buyers gave up.  So I hope they will start looking again.

Fox Valley Real Estate Market Update Week 35-FHA and VA 090421
FHA and VA Financing

Out of 387 closed this week 237 of them were 2,000 square feet or more.  The median closed price was $420,000 this week, last week it was $423,550.  Not much difference there.  Minimum closed price was $140,000 this week with list price of $150,000.  This gives you an idea of what 2,000 square feet or more costs you here in the Fox Valley area of Illinois.

Fox Valley Real Estate Market Update Week 35-2000 sf or more 090421
2,000 square feet or more

Contracts accepted this week

Contracts accepted this week were down.  251 this week compared to 286 the week before.  The market should pick back up again after the Labor Day weekend.

Fox Valley Real Estate Market Update Week 35-Contacts accepted this week
Contracts accepted this week

Look at the communities seller’s accepted the most contracts:

Aurora-43                             Bolingbrook-26

Montgomery-12                     Naperville-26

Plainfield-30                         St Charles-15

West Chicago-12                   Yorkville-16

1 short sale was accepted this week.  It was in Plainfield.  Now it will be submitted to the lender to see if they will also accept it.  Most homeowners that are having trouble paying their mortgage can sell without doing a short sale.  The prices have increased enough that most of them can sell and might even get some money at closing to move.

Seller’s have accepted contracts that are contingent on the buyer closing on their current home.  7 with a kick-out clause of 72 hours, 5 with 48 hours and 1 with 24 hours.

Also, seller’s have accepted contracts that are contingent on the buyer selling and closing on their current home.  5 with a kick-out clause of 72 hours, 1 with 48 hours and 2 with 24 hours.

2021 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                         1088           1228                1289

June                        1450           1686                1671

July                          1118            1182                1210

August                     1109            1203                1170

September                204             387                  251

Totals               8072          8964               10040

Single family homes have been selling.  It has been a good year with a very tight market so far.  Check back with us every Saturday for the real estate market update.  At the end of each month we take a look back at 2020 and 2019 as well so you can see how things have been going.

Contact us

Call 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.

Request a home valuation if you are thinking about selling.  Give us a little 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 get with a loan officer and get all your financial information to them so they can get you pre approved.  Seller’s today want to see more than just calling up a loan officer and talking to them on the phone,  They want to know that the loan officer has seen all your information and ran the credit check and put it through underwriting.  It also will make it much faster when you find a home to get the loan approved.

Resources:

If you need recommendations for loan officers, real estate attorneys or home inspectors we can send you a few to contact and you can decide who you want to work with.

Fox Valley real estate market update week 35.  Happy Labor Day weekend!  Enjoy and be safe.

Fox Valley real estate market update week 35-Kristine Heiman Managing BrokerKristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 6038

630-503-6555 ext 101

 

 

 

How many homes closed 2,000 square feet or more week 34

How many homes closed 2,000 square feet or more week 34-Cover

How many homes closed 2,000 square feet or more week 34.  This is one way to search homes that you are looking for if you know less than 2,000 square feet will not work for you.  We will let you know how this week went shortly.

New listings of single family homes was down this week.  221 this week compared to 256 the week before.  So many people are getting the kids in school this past week.  It is a big adjustment especially for the kids that did not attend in-person school last year.  Hopefully things will settle down and get back to thinking about housing.

Closed listings of single family homes were also down.  273 this week compared to 299 the week before.  This is the last full week of the month.  Monday and Tuesday the last days of the month.  We are back to scheduling things around school.  During last year with the pandemic, and kids not attending in-person classes, people were not worrying about the school schedule.

How many homes closed 2,000 square feet or more week 34

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

Aurora-New 33 $167,500-$690,000

            Closed-43 $90,000-$451,500

Bolingbrook-New 17 $195,000-$415,000

                   Closed-19 $198,000-$544,000

Geneva-New 5 $349,900-$474,000

            Closed-11 $295,000-$680,000

Montgomery-New 8 $212,000-$300,000

                     Closed-10 $217,000-$376,000

Naperville-New 37 $285,000-$1,300,000

                 Closed-52 $245,000-$1,750,000

Oswego-New 11 $249,000-$549,000

             Closed-15 $250,000-$435,900

Plainfield-New 31 $249,000-$774,400

                Closed-40 $180,000-$630,000

St Charles-New 13 $265,000-$990,000

                  Closed-22 $205,000-$990,000

Yorkville-New 12 $219,900-$515,000

               Closed-10 $209,000-$430,000

Financing, median price and 2,000 or more square feet

Median list price this week $355,000, same as the week before.  Closed median price this week $355,000, last week $359,900.  Prices are not changing that much right now.

How many homes closed 2,000 square feet or more week 34-Stats 082821
Median prices this week

Homes closed using Conventional Financing this week 199, last week 218. Cash homes that closed this week 33, last week 24.

How many homes closed 2,000 square feet or more week 34-Conv and cash 092821
Conventional and Cash financing

Homes closed using FHA financing this week 34, last week 47.  VA financing this week 7, last week 10

How many homes closed 2,000 square feet or more week 34-FHA and VA 082821

Out of 273 homes that closed this week 166 of them were 2,000 square feet or more with a median closed price of $423,550, and list price $419,900.   The minimum closed price $207,000 with minimum list price $199,900.  This gives you an idea of what 2,000 square feet costs you here in the Fox Valley area of Illinois.

How many homes closed 2,000 square feet or more week 34-2,000 square feet or more 082821
2,000 square feet or more

Contracts accepted this week

Contracts accepted this week were down.  286 this week compared to 300 the week before.  Hopefully after the adjustment of getting back in the routine of school things will go back to normal.  The market is not down that much.

How many homes closed 2,000 square feet or more week 34-Contracts accepted this week

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

Aurora-49                            Bolingbrook-21

Geneva-10                            Montgomery-16

Naperville-35                       Oswego-13

Plainfield-46                        St Charles-19

Sycamore-10                        West Chicago-14

Yorkville-12

No short sales were accepted this week.

Seller’s accepted contracts that are contingent on the buyer to close on their current home.  7 with a kick-out clause of 72 hours, 7 with 48 hours and 3 with 24 hours.

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

2021 by the month and a look back at 2020 and 2019

2021

Month                        New     Closed     Contracts accepted

January                       543           649                   829

February                     561            604                   778

March                         993          1099                  1455

April                          1006           926                  1387

May                           1088          1228                  1289

June                          1450          1686                  1671

July                           1118           1182                   1210

August                       1109          1203                   1170  

Totals                     7868          8577                  9789

2020

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

Totals                9244           7294                  10002

2019

Month            

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

Totals                     11531            7163                    8866

More homes have been closed this year than the previous 2 years even with a tighter market.  You can see the steady decline in new listings.  Normally, August is the best month for closings right before school starts.  This year it was June.  It has been a really hard year for buyer’s.  They have had so much competition for homes and not many to choose from.  Prices have gone up so much that some have been priced out of the market.  We hope inventory will improve.

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 before the holidays?  Request a home valuation and tell us a little bit about your home and what improvements have been recently completed.  We will provide you with a net proceeds that shows you an estimate of expenses to sell.  This will be updated when an offer comes in and we know all the terms.

Do you want to buy a home this year?  You need to contact a loan office that is willing to pre approve you before you find the home.  You need to get them all your financial information.  Pre-qualifying just is not enough anymore.  You need to be ready to go with a letter in hand to go with an offer.  A seller will not consider you without it.  You might also need to show proof of funds.  You can have your financial institution write a letter showing you do have the funds available for the down payment and closing costs.  That might even improve your chances if there is multiple offers.

Resources:

If you need recommendations for loan officer’s, real estate attorney’s or home inspector’s we can give you a few of each and you can decide who you want to work with.

How many homes closed 2,000 square feet or more week 34.  Have a great week!

How many homes closed 2,000 square feet or more week 34-Kristine Heiman Designated Managing BrokerKristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

 

How many homes closed 2,000 square feet or more week 33

How many homes closed 2,000 square feet or more week 33-Cover

How many homes closed 2,000 square feet or more week 33. So many people are looking for more space.  Can they find it in the price range they are looking for?  We will get into that shortly.

New listings of single family homes were pretty consistent with the week before.  256 this week compared to 251 the week before.  We would love to see more, but consistency is good.

Closed single family homes this week were also, not far off of last week.  299 this week compared to 291 the week before.  Next week is the last full week of the month so they should increase.

How many homes closed 2,000 square feet or more week 33

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

Aurora-New 46 $145,000-$770,000

            Closed-62 $139,000-$595,000

Bolingbrook-New 16 $249,000-$899,000

                    Closed-23 $175,000-$511,000

Geneva-New 9 $268,900-$1,200,000

             Closed-12 $284,000-$766,337

Naperville-New 42 $250,000-$1,625,000

                 Closed-55 $350,000-$2,400,000

Oswego-New 16 $299,999-$449,990

              Closed-12 $211,000-$440,000

Plainfield-New 44 $224,900-$900,000

                Closed-34 $196,000-$555,000

St Charles-New 17 $209,900-$1,895,000

                  Closed-26 $175,000-$915,000

West Chicago-New 10 $295,000-$664,900

                       Closed-7 $239,000-$492,000

Financing, median list and closed price, 2,000 square feet or more closed this week

Median list price this week $355,000, last week $361,470.  Median closed price $359,900, last week $375,000.  These numbers go up and down each week, but they do not change drastically.

How many homes closed 2,000 square feet or more week 33- Stats 082121
Stats for August 21, 2021

Homes that closed using Conventional this week 218, last week 221.  Cash this week 24, last week 33.

How many homes closed 2,000 square feet or more week 33-Conventional and cash
Conventional and Cash

Closed homes using FHA financing this week 47, last week 26.  VA this week 10, last week 9.

How many homes closed 2,000 square feet or more week 33-FHA and VA
FHA and VA financing

Seller’s are still choosing Conventional financing over anything else.  I am encouraged to see FHA numbers going up.  Some buyer’s that have to go FHA have given up.  They are tired of losing out to buyer’s using Conventional financing with multiple offer situations.

Out of 299 homes that closed this week 191 of them were 2,000 square feet or more.  Median list price is $425,000, closed price is $420,000.  Minimum list price $220,000, closed price $242,000.  So many people are looking for more space since the pandemic.  This gives you an idea of what price that will cost you.  If you are below this price it will be hard to find.  You might need to adjust the criteria for the home you are looking for.

How many homes closed 2,000 square feet or more week 33-2000 sf 082121
2,000 square feet or more

Contracts accepted this week

Contracts accepted this week on single family home were consistent.  300 this week compared to 303 the week before.  The market is staying steady.  There might not be as many offers with multiple offer situations, but buyer’s are still out there looking.

Home many homes closed 2,00 square feet or more week 33-contracts accepted this week

Look at the communities seller’s accepted the most contracts:

Aurora-51                          Batavia-10

Bolingbrook-24                  Montgomery-13

Naperville-33                    Oswego-10

Plainfield-37                     St Charles-26

Sycamore-10                     West Chicago-11

Winfield-14                       Yorkville-11

There were no short sales accepted by seller’s this week.  Most people that are in a bind, and need to sell do not have to go through the short sale process with the prices that have increased.

Seller’s accepted contracts that are contingent on the buyer closing on their current home.  5 with a kick-out clause of 72 hours, 4 with 48 hours and 3 with 24 hours.

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours, 8 with 48 hours and 2 with 24 hours.

There was 1 that did not have a kick-out clause that they marked.  So we don’t know about that one.

2021 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                      1088           1228                  1289

June                     1450           1686                  1671

July                       1118           1182                   1210

August                   887            930                    884

Totals                  7646          8304                  9503

We started out the year with closings from 2020.  They received a contract in 2020 but did not close until 2021.  That is why the closed column is more than the new listings.  You can see it has been a really tight market.  Normally you would see more new listings than closings.

It still remains a seller’s market.  There might be fewer offers with multiple offer situations, but there are still a lot of buyer’s out there ready to go.

There has been an extreme shortage of housing across the country.  Some new homes have been built in our area that have helped.

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.

Request a home valuation if you are thinking about selling your home.  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.

Are you thinking about buying a home?  You need to get ready first by contacting a loan officer and getting them all your financial information.  You need to get pre approved with this market.  Just calling and talking to a loan officer to get pre-qualified is not enough anymore.  You need to show the seller’s that you have taken this extra step.

Resources:

If you need recommendations for loan officers, real estate attorneys and home inspectors we can give a few of each and you can decide who you want to work with.  Just let us know.

All data used is from our MLS that we use MRED, LLC.

How many homes closed 2,000 square feet or more week 33.  Have a great week!

How many homes closed 2,000 square feet or more week 33-Kristine Heiman Designated Managing BrokerKristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, Il 60538

630-503-6555 ext 101