Fox Valley home prices January 29 2022

Posted on January 29, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices January 29 2022

Fox Valley home prices January 29 2022. The market continues to be very tight. It is awesome for seller’s, but trying for buyer’s.

New listings of single family homes are pretty consistent with the week before. 112 this week compared to 110 the previous week.

Closed listings this week 121, last week 122.

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

Aurora-New 15 $170,000-$500,000

Closed-15 $125,550-$394,000

Bolingbrook-New 11 $225,000-$525,000

Closed-9 $215,000-$630,000

Naperville-New 15 $280,000-$2,239,000

Closed-14 $315,000-$775,000

Plainfield-New 13 $265,000-$665,990

Closed-13 $200,000-$523,797

Click on the photo above to see the activity in the other communities.

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

The median list price this week $329,900, last week $369,995

Closed median price this week $325,000, last week $354,000

Conventional financing was used to close 74 homes with a median price of$344,000, last week 89 homes at median price of $374,900.

Conventional financing used January 29 2022

Cash was used to close 18 homes at median price of $197,750, last week 15 homes at median price of $295,000

FHA financing was used to close on 18 homes at median price of $250,000. last week 9 homes at median price of $320,710.

VA financing was used to close on 11 homes at median price of $387,000, last week 9 homes at median price of $300,500.

Homes that were at least 2,000 square feet or more closed on 59 at median price of $394,990, last week 71 homes at median price of $404,000.

Minimum price for 2,000 or more square feet this week closed at $$185,300, last week $280,000. What a difference a week makes!

This gives you an idea of pricing in the Fox Valley area, and what type of financing is mostly accepted by the seller at this time. Every seller is different, with different circumstances. It is best to find out what they are looking for to get your offer accepted.

Contracts accepted this week

Contracts accepted this week are slightly up. 178 this week compared to 163 the previous week.

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

Auroro-24 Naperville-22

Plainfield-22 St Charles-12

Winfield-10 Yorkville-15

1 short sale was accepted by a seller in Minooka this week. 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. 1 with a kick-out clause of 72 hours and 1 with 48 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 1 with 48 hours.

2022 by the month and a look back at 2021 and 2020.

2022

Month New Closed Contracts accepted

January 422 492 623

2021

January 543 649 829

2020

January 1105 566 858

Can you imagine if we had 1105 new listings this year? Our buyer’s would be in heaven!

Check back with us every Saturday for the real estate market update. At the end of each month we will look back at the previous 2 years so you have something to compare to.

You can see why prices are increasing the way they are with a market that is this tight with homes on the market.

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 to see what your home is worth in today’s market. You will be provided with a net proceeds that shows you the expenses to sell and what you might walk away with. 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 thinking about buying patience is needed. Plan ahead of when you need to move. Get all your financial information together and get it to a loan officer to get pre approved. Without this step done you will lose out on a home by trying to do it when you find one. Keep updating it every 30 days to make sure it is current.

Resources:

Types of loans and the process

VA loans and the requirements

Current interest rates

Down payment assistance

IHDA programs

Check with your loan officer for the current rates they are offering with your credit score. They will help you if you need to improve it.

All data used is from our MLS system MRED, LLC.

Fox Valley home prices January 29 2022. Have an amazing week!

Kristine Heiman, SFR, SRS, AHWD, C2EX

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Search for a home today!

Fox Valley home prices January 22 2022

Posted on January 22, 2022 by Kristine Heiman, Designated Managing Broker

Fox Valley home prices January 22 2022

Fox Valley home prices January 22 2022. New listings of single family homes were up slightly. 110 this week compared to 94 the previous week.

Closed listings of single family homes this week was down. 122 this week compared to 127 the previous week.

The market is off to a slow start so far this year here in the Fox Valley area.

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

Aurora-New 18 $135,000-$1,075,000

Closed-7 $85,000-$410,000

Bolingbrook-New 8 $145,000-$329,900

Closed-11 $221,000-$439,900

Naperville-New 22 $360,000-$4,800,000

Closed-18 $315,000-$820,000

Plainfield-New 17 $299,900-$799,900

Closed-23 $235,000-$550,000

I just highlighted the communities with the most activity. You can see the rest of the communities that had activity in the picture above. You will notice that week after week these same communities are always on the list of most activity. It depends on what you are looking for in a community. One that is consistently active, or one that is more stable.

Financing most used, median prices and 2,000 SF or more

The median list price this week on single family homes is $369,995, last week the median price was $350,000.

Closed median price was $354,000 this week, last week $331,000 on single family homes.

Conventional financing was used to close 89 single family homes this week at a median price of $374,900, last week 90 single family homes at median price of $365,000.

Cash was used to close on 15 single family homes at a median price of $295,000 this week, last week 18 at median price of $282,500.

FHA financing was used to close 9 single family homes at a median price of $320,710 this week, last week 18 homes at median price of $258,500.

VA financing was used to close 9 single family homes at a median price of $300,500 this week, last week 1 at $432,990.

71 single family homes closed this week that were 2,000 square feet or more at a median price of $404,000, last week 70 homes at median price of $434,000.

The minimum price this week for 2,000 or more square feet closed at a price of $280,000, last week $235,000. What a difference a week makes! If you are looking for more space you might have to be patient until the right one comes on the market.

Contracts accepted this week

Contracts accepted on single family homes were down. 163 this week compared to 172 the previous week. We are having a slow trickle of homes coming on the market. This is not surprising.

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

Aurora-29 Bolingbrook-10

Naperville-28 Plainfield-18

St Charles-13

The median price that received a contract this week is $350,000. $68,000 was the minimum price on single family homes. Average market time was 49 days this week.

Contingent Stats January 22 2022 — Contract accepted Stats for January 22 2022

No short sales were accepted this week by seller’s. That does not mean that there are no short sales listed.

Seller’s accepted contracts that are contingent on the buyer closing on their current home. 1 with a kick-out clause of 72 hours and 4 with 48 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, 3 with 48 hours and 1 with 24 hours.

2022 by the month

Month New Closed Contracts accepted

January 310 371 445

Check back with us every Saturday for the market update. At the end of each month we will also include the numbers for 2021 and 2020 so you can see how this year is going compared to those previous 2 years.

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.

This might be more information than you are looking for. You might just like to see a graph, but I like to break it down a little more.

You will be the one to decide what information you want, and how often, once we start working together. Do you want a more broad area to look, or a more defined area. Will you look at any age, type of home, or do you want to only view a set criteria of homes?

It all starts with getting your financial information to a lender to get pre approved.

If you are thinking about selling your home request a home valuation. Give us some details about your home and what has been recently updated. We will show you what the market is doing with your type of home in your area. Provide a net proceeds that shows an estimate of expenses to sell that will be updated when an offer comes in and we know all the terms.

Resources:

Types of loans and the process

VA loans and the requirements

Current interest rates

Down payment assistance

IHDA programs

If you are already working with a loan officer check with them for the rate they are offering you with your credit score. They also might offer some assistance. You will need to ask.

Buying or selling a home is a big deal. You want someone that will look out for you and guide you through the process. We want to be your REALTOR®.

All data used is from our MLS MRED, LLC.

Fox Valley home prices January 22 2022. Have a great week!

Kristine Heiman, SFR, SRS, AHWD, C2EX

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Search for homes today!

2021 Real Estate Market Update Week 29

Posted on July 24, 2021July 24, 2021 by Kristine Heiman, Designated Managing Broker

2021 Real Estate Market Update Week 29

2021 real estate market update week 29. Welcome back! Other places you can get the percentages up or down over all for the week. We go into a deeper dive into the numbers. You might be just keeping an eye on your community to see how it is doing or you might be looking for a home and this might persuade you to look at different communities. Let us know what information is most important to you.

New listings of single family homes was up slightly. 289 this week compared to 277 the week before. It seemed towards the end of the week more listings were coming on the market.

Closed listings of single family homes were pretty consistent. 306 this week compared to 305 the week before. Next week is the last week of the month when most buyers want to close.

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

Aurora-New 33 $115,000-$598,900

Closed-40 $130,000-$575,000

Batavia-New 10 $219,900-$449,900

Closed-13 $260,000-$650,000

Bolingbrook-New 18 $214,900-$485,000

Closed-23 $217,500-$522,000

Geneva-New 13 $260,000-$579,900

Closed-14 $297,000-$576,000

Montgomery-New 10 $130,000-$339,000

Closed-6 $185,000-$330,000

Naperville-New 60 $249,999-$2,150,000

Closed-61 $177,500-$1,725,000

North Aurora-New 10 $208,500-$480,000

Closed-4 $200,500-$410,000

Oswego-New 9 $210,000-$610,000

Closed-14 $251,000-$465,000

Plainfield-New 42 $199,900-$600,000

Closed-37 $210,000-$630,000

St Charles-New 24 $215,000-$993,000

Closed-23 $222,500-$1,800,000

West Chicago-New 14 $190,000-$825,000

Closed-16 $193,000-$582,750

Financing used, median list and closed price

Median list price of single family homes was $360,000 this week compared to $359,900 the week before.

Median closed price of single family homes was $$379,000 this week compared to $355,000 the week before.

2021 Real Estate Market Update Week 29-Stats 072421 — Stats this week

Financing choices on closed single family homes this week using Conventional this week 238 and last week 232. Cash this week 27 and last week 28.

2021 Real Estate Market Update Week 29-Conventional and cash Closed — Conventional and Cash

Financing choices on closed single family homes this week using FHA this week 36 and last week 39. VA this week 5 and last week 6.

2021 Real Estate Market Update Week 29-FHA and VA — FHA and VA

Contracts accepted this week

Contracts accepted this week by seller’s on single family homes was pretty consistent. 322 this week compared to 321 the week before. Consistency in the market is a wonderful thing. Some talk about it slowing a bit. Maybe there are not as many offers on a property as there was, but buyers are still out there looking to buy. It continues to be a seller’s market here in the Fox Valley area of Illinois.

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

Aurora-53 Batavia-13

Bolingbrook-23 Geneva-10

Montgomery-12 Naperville-50

Oswego-14 Plainfield-46

St Charles-27 Yorkville-14

No short sales were accepted by seller’s this week. That does not mean that they are not out there. Most people that need to sell, that normally would be selling short, have had enough price appreciation that they can sell and payoff the loan.

Seller’s 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, 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 3 with 48 hours.

2021 real estate market 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 853 817 913

Totals 6494 7009 8322

So far June is the best month across the board. Closed homes is the most important column to keep track of because this is actual numbers. Some seller’s can accept a contract but because of many reasons it can go back on the market..

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 yo reach your goal.

Is it the right time to make a move? Request a home valuation and give us a little information about your home and what updates have been completed. We will provide you with a net proceeds that shows you the expenses to sell and you decide if it is the right time. This will be updated when an offer comes in and we know all the terms.

Thinking about buying this year? You need to contact a loan officer and give them all your financial information so they can get you pre approved. You need to take this extra step if you want to even be considered by a seller. We can set you up to receive listings as they hit the market so you don’t miss out on a thing.

Resources:

Need recommendations for a real estate attorney, loan officers or home inspectors? Just let us know and we will recommend a few for you to contact and decide who you want to work with.

All data used is from our MLS MRED, LLC

2021 real estate market update week 29. Have a wonderful week!

Kristine Heiman, SFR, SRS, AWHD

Designated Managing Broker

Best Homes Fox Valley-Search for a home today!

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101