Market update Fox Valley week 32
Market update Fox Valley week 32. New listings were consistent this week with the week before. 270 this week compared to 284 the week before. We love consistency but not with new listings right now. We need to drastically increase new listings. Inventory is extremely low. Now is a great time to get your home on the market.
Closed listings are down slightly over 24% this week. 338 closed single family homes this week compared to 445 the week before. That is the difference between the end of the month and the beginning. Most buyers want to close at the end of the month.
Take a look at the communities with the most activity this week:
Aurora-New 32 $135,000-$425,000
Bolingbrook-New 19 $225,000-$579,900
Geneva-New 16 $259,000-$649,900
Montgomery-New 13 $194,900-$305,000
Naperville-New 55 $250,000-$1,349,900
Oswego-New 10 $275,000-$1,375,000
Plainfield-New 27 $165,000-$499,000
St Charles/Campton Hills-
West Chicago-New 10 $159,900-$375,000
Yorkville-New 14 $105,000-$699,900
Price ranges might help you decide what communities to look in.
Contracts accepted this week
Look at the communities sellers accepted the most contracts:
Plano-11 St Charles/Campton Hills-37
West Chicago-15 Yorkville-16
7 short sales were accepted by sellers this week. 2 in Aurora and Plano. 1 each in Oswego, Plainfield and Sycamore. Now they will be submitted to the lender to see if they will also accept.
Sellers accepted contracts this week that are contingent on the buyer closing on their current home. 12 with a kick-out clause of 72 hours, 21 with 48 hours and 7 with 24 hours.
Also, sellers accepted contracts this week that are contingent on the buyer selling and closing on their current home. 7 with a kick-out clause of 72 hours, 8 with 48 hours and 2 with 24 hours.
2020 by the month
Month New Closed Contracts accepted
January 1,105 566 858
February 1,267 529 1,024
March 1,186 707 1,079
April 648 786 775
May 1,352 1,010 1,444
June 1,232 908 1,534
July 1,417 1,614 1,852
August 279 338 384
Total 8,486 6,458 8,950
July is the best month so far for this year. Check back with us every Saturday for an update. At the end of the month we will compare to 2019 and 2018 so you can see the changes from year to year.
Call us at 630-503-6555 for all of your real estate questions. Your goal is our goal. We will do everything we can to help you reach your goal.
Let us update the value of your home in today’s market. We will provide you with a net proceeds that shows you the expenses to sell so you know where you are at. This will be updated when an offer comes in and we know all the terms.
If you are thinking about buying a home you need to talk to a loan officer and have your documents ready. They will let you know what type of loan and what price range works out best for you. A letter will be emailed to you showing what you qualify for. This will go with an offer when you find the home you like.
Check out some great 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
You might be downsizing or wanting a larger home. Looking for a different school district. Family member might have passed and you need to sell their home. Whatever the reason you are wanting to buy or sell we are here to help guide you through the process.
Market update Fox Valley week 32. Have a great week!
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101