Fox Valley Market Update August 24 2019
Fox Valley market update August 24 2019. New listings of single family homes were slightly down this week. 292 this week compared to 315 the week before. Not too bad with school starting. So many people are out buying school clothes and supplies to get ready to start school.
2019 new single family home listings by the month:
- August so far-1,182
Take a look at the communities with the most activity this week:
Aurora-New 43 $118,000-$975,000
Batavia-New 17 $189,900-$614,500
Bolingbrook-New 17 $169,900-$565,000
Geneva-New 19 $229,000-$1,695,000
Montgomery-New 10 $175,000-$270,000
Naperville- New 63 $299,700-$7,250,000
Oswego-New 9 $179,900-$385,790
Plainfield-New 29 $154,900-$778,000
St Charles/Campton Hills-New 22 $260,000-$829,000
West Chicago-New 10 $259,900-$675,000
Yorkville-New 11 $199,900-$374,900
Closed homes this week were also down. 221 this week compared to 255 the week before. Next week is the last week of the moth so we should see an increase. Especially because next weekend is Labor Day so people will have a long weekend to move in and get settled.
Closed homes in 2019 by the month:
- August so far-1,111
May continues to be the best month so far for new listings and closed homes.
Contracts accepted this week
Contracts accepted on single family homes this week were slightly up this week. 234 this week compared to 212 the week before. When something special comes on the market no matter how busy you are you need to jump on it. Homes that have been on the market either need to be made special or drop the price to get a buyer interested.
Contracts accepted on single family homes in 2019 by the month:
- August so far-984
Not every home that received an accepted contract closes. Sometimes things come up during attorney review or the home inspection that buyer and seller do not mutually agree upon. Sometimes the buyer’s loan does not get approved either because something comes up on their credit that can’t be resolved or the appraisal does not appraise for the agreed upon price. Buyer’s sometimes lose their job during the process Many things can happen during the process. Keeping on top of things is very important.
Look at the communities that seller’s accepted the most contracts this week:
Aurora-37 Bolingbrook-15 Geneva-10
Naperville-42 Oswego-1- Plainfield-25
St Charles/Campton Hills-16
Short Sales accepted this week were still low. Only 1 this week compared to 2 the week before. This is great! Bolingbrook was the only community this week with an accepted contract.
Sellers also accepted contracts that are contingent on the buyer closing on their current home. 5 with a kick-out clause of 72 hours, 6 with 48 hours and 6 with 24 hours.
Contracts were also accepted by seller’s that are contingent on the buyer selling and closing on their current home before purchasing. 4 with a kick-out clause of 72 hours and 6 with 48 hours.
Call us at 630-503-6555 with all of your real estate questions. We are keeping an eye on the market. Our goal is your goal. We are here to listen to your wants and needs. We will do everything we can to accomplish your goals. Whether buying or selling a home.
Check out some resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some community assistance
- School ratings
Let us know what other information you are looking for and we will point you to it.
Fox Valley market update August 24 2019. Have a great week!
Kristine Heiman, Managing Broker
Best Homes Fox Valley-Search for homes today!
200 Webster St
Montgomery, IL 60538
Another way to search for homes that also has a chat feature. You can sign up for free.