Fox Valley home prices March 4th
Fox Valley home prices March 4th. We just missed a big snow storm luckily. It went to the south and east of us. Temperatures are hovering around 40°. Monday will be the exception, it will be 60°, then back to the 40’s.
New listings this week were consistent. 127 this week compared to 120 the previous week.
Closed listings were up. 144 this week compared to 103 the previous week.
Aurora-New 17 $127,000-$579,900
Naperville-New 26 $339,900-$1,350,000
Oswego-New 11 $275,000-$625,000
St Charles-New 6 $449,800-$1,300,000
We highlighted the communities with the most activity. Click on the photo above to see activity in other communities and the price ranges.
Financing used, median prices, and 2,000 SF or more
Median list price this week $400,000, last week it was exactly the same $400,000.
Closed median price this week $374,495, last week $385,000.
Conventional financing was used to close on 99 homes this week with a median price $401,000 with 50 days average market time, last week 70 homes at median price $386,500 with 46 days average market time.
Cash was used to close on 16 homes this week with a median price $355,000 with 36 days average market time, last week 13 homes at median price $415,000 with 45 days average market time.
FHA financing was used to close on 21 homes this week at median price $300,000 with 77 days average market time, last week 12 homes at median price $299,500 with 70 days average market time.
VA financing was used to close on 6 homes this week at median price $346,500 with 62 days average market time, last week 8 homes at median price $465,000 with 46 days average market time.
2,000 square feet or more closed on 86 homes this week at median price 432,950 with 55 days average market time, last week 63 homes at median price $450,000 with 58 days average market time. Minimum price this week $168,000, last week $245,000.
Conventional financing continues to be the financing to get accepted at just slightly over 68% of homes closed.
Almost 60% of homes closed are 2,000 SF or more in the Fox Valley area.
Under contract this week
Homes that went under contract this week are down. 147 this week compared to 166 the previous week.
Click on the photo above to see the other communities that also had homes go under contract this week.
1 short sale was accepted by a seller this week. It was in Minooka. Now it will go to the lender to see if they will also accept.
A Seller accepted a contract that is contingent on the buyer closing on their current home. 1 with a kick-out clause of 72 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, 1 with 48 hours, and also 1 with 24 hours.
Median price of homes under contract this week $399,000 with 55 days average market time, last week median price $377,400 with 45 days average market time.
2023 by the month and a look back at 2022 and 2021
Month New Closed Under contract
January 483 326 470
February 630 526 789
Totals 1113 852 1259
January 422 492 626
February 523 520 724
Totals 945 1012 1350
January 543 649 829
February 561 604 778
Totals 1104 1253 1607
There were only 2 days this week that were in February. I decided to carry it over just in case they were the busiest 2 days of the week.
You will see that the number will steadily go up each month. Get with your loan officer to get approval before you miss out on your dream home. This needs to go with an offer. The seller will not accept without it in most cases, unless you have cash, and then you will need a letter from your bank showing that you have the funds available.
Check back with us every Saturday for the Fox Valley home prices.
Click on each bullet point to take you to the site for the information. If you are looking for any other information not list let us know and we will point you in the right direction.
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Check with your loan officer for the interest rate you will be offered. It depends on your credit score and other things they will explain to you.
All data is provided from our MLS, MRED, LLC. It changes continuously throughout the day.
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal.
Fox Valley home prices March 4th. 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