Fox Valley  home prices January 28th

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Fox Valley home prices January 28th.  Winter has finally arrived in the Fox Valley this week.  It has been snowing for the last 3 days.  Not too much, just enough to cover the ground.

New listings this week are slightly down.  127 this week compared to 134 the previous week.

Closed listings this week are much higher.  98 this week compared to 69 the previous week.

Fox Valley home prices January 28th

Aurora-New 15 $149,900-$640,517

             Closed-21 $130,000-$642,900

Elburn-New 10 $395,000-$1,295,000

            Closed-2 $380,000-$415,000

Naperville-New 18 $300,000-$1,100,000

                   Closed-18 $280,000-$1,100,000

Oswego-New 10 $215,000-$475,000

               Closed-3 $400,000-$500,000

Plainfield-New 24 $279,900-$875,000

                  Closed-7 $309,500-$649,285

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

Median list price this week $399,990, last week $389,990.

Closed median price this week $387,950, last week $335,000.

Fox Valley home prices January 28th-Stats
Fox Valley home prices January 28th-Stats

Conventional financing was used to close on 72 homes this week at median price $429,250 with 45 days average market time, last week 48 homes at median price $346,265 with 57 days average market time.

Conventional financing used to close for week ending January 28th
Conventional financing used to close for week ending January 28th

Cash was used to close on 14 homes this week at median price $304,762 with 40 days average market time, last week 10 homes at median price $309,000 with 40 days average market time.

Cash used to close for week ending January 28th
Cash used to close for week ending January 28th

FHA financing was used to close on 10 homes this week at median price $328,795 with 91 days average market time, last week 9 homes at median price $269,900 with 39 days average market time.

FHA financing used to close for week ending January 28th
FHA financing used to close for week ending January 28th

VA financing was used to close on 3 homes this week at median price $433,500 with 64 days average market time, last week 1 home at $450,000 with 76 days average market time.

VA financing used to close for week ending January 28th
VA financing used to close for week ending January 28th

2,000 square feet or more closed on 61 homes this week at median price $480,000 with 62 days average market time, last week 34 homes at median price $470,500 with 41 days average market time.  Minimum price this week $309,500, last week $286,000.

2,000 SF or more closed for week ending January 28th
2,000 SF or more closed for week ending January 28th

Conventional financing continues to be the best choice for financing.

Homes are staying on the market longer than they were, but if they are priced right, and in great condition they are still selling quickly.  Fresh paint, deep cleaning, and getting rid of the clutter is your best bet for getting it sold right away.  It makes it easier to be ready for showings and more appealing for buyers. 

Homes under contract this week

Homes under contract this week are up.  158 this week compared to 122 the previous week.

Fox Valley home prices January 28th-homes under contract this week

Aurora-23                           Bolingbrook-12

Naperville-26                     Plainfield-17

Yorkville-10

No short sales were accepted by seller’s this week.

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 also 1 at 48 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 72 hours and also 1 at 48  hours.

Median price of homes under contract this week $387,450 with 68 days average market time, last week median price $379,900 with 64 days average market time.

Under contract this week 012823
Under contract for week ending January 28th

2023 by the month and a look back at 2022 and 2021

2023

Month              New   Closed   Under contract

January             483      326          470

2022

Month              New   Closed   Under contract

January             422      492          623

2021

January             543      649          829

We did better than 2022 for New listings but below 2021.  Closed and under contract are way behind 2022 and 2021.  Hopefully we will continue to be ahead of last year for New listings.   That will help to stabilize pricing.

Resources

Click on each of the bullet points that are bold and underlined to take you to the site for the information.  If you are looking for information not listed here, let us know, and we will point you  in the right direction.

Check with your loan officer to see what interest rate you will be offered.  It depends on your credit score and other things that your loan officer will explain to you.  They can also help you bring up your score if you need to.

All data provided today is from our MLS, MRED, LLC.  It changes throughout the day as information is uploaded.

Contact us 

Call us at 630-503-6555 with all your real estate question.  Your goal is our goal.

Fox Valley home prices January 28th.  Have an awesome week!

Kristine Heiman, SFR, SRS, SRES, AHWD

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 Ext 101

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Fox Valley home prices February 26 2022

Fox Valley home prices February 26 2022

Fox Valley home prices February 26 2022.  We end this last week of February with a bright sunny day and a slight increase in new listings of single family homes.  163 this week compared to 137 the previous week.

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

Aurora-New 17 $189,000-$589,000

            Closed-20 $160,000-$467,000

Geneva-New 10 $275,000-$689,500

            Closed-8 $335,000-$580,000

Naperville-New 41 $325,000-$1,699,000

                 Closed-17 $306,000-$1,650,000

Plainfield-New 16 $279,000-$850,000

                Closed-19 $215,000-$492,500

St Charles-New 10 $269,900-$1,485,000

                  Closed-7 $247,500-$400,001

Naperville saw the most new listings this week with Aurora having the most closed.  Multiple offers is still the norm for the foreseeable future.

Financing used, median prices and 2,000 square feet or more

Median list price this week $385,000, last week $375,500.

Closed median price this week $343,500, last week $374,355.

8 days average active this week with 42 average days closed. last week 16 days average active with 54 average days closed.

Stats 022622
Median prices for the week ending February 26 2022

Conventional financing was used to close 90 homes this week with median price of $375,000 with average market time 40 days, last week 88 with median price of $397,262 with average market time 57 days.

Conv financing 022622
Conventional financing used week ending February 26 2022

Cash was used to close 13 homes median price of $275,000 with 57 average market days, last week 15 homes median price $477,500 with 65 average market time.

Cash 022622
Cash used to close for week ending February 26 2022

FHA financing was used to close on 19 homes median price $290,000 with 54 average market days, last week 11 homes median price $258,000 with 31 average market time.

FHA 022622
FHA financing used for week ending February 26 2022

VA financing was used to close on 4 homes this week median price of $269,494 with 24 average market time, last week 7 homes median price of $330,000 with 19 days average market time.

VA 022622
VA financing used for week ending February 26 2022

68 homes closed this week that were 2,000 square feet or more median price $420,995 with 9 days average active and 47 days average market time to close, last week 72 homes median price of $452,500 with 16 days average active and 50 days average market time to close.  The minimum price this week that closed was $160,000, last week $279,900.  What a difference a week makes!

2000 SF or more 022622
2,000 SF or more week ending February 26 2022

Contracts accepted this week

ox Valley home prices February 26 2022-Contracts accepted this week

Contracts accepted this week were pretty consistent.  191 this week compared to 187 the previous week.  If new listings pick up we would see this number increase.  Buyers are waiting.

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

Aurora-28                      Bolingbrook-16

Naperville-32                 Oswego-12

Plainfield-19                   St Charles-16

These are the communities that consistently see activity week after week.

1 short sale was accepted by a seller this week.  It was in Plainfield.  Now it will be submitted to the lender to see if they will also accept as written.

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

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

The median price of homes that went under contract this week was $360,000 with a average market time of 30 days, last week median price was $369,900 with 42 days average market time.

Contingent Stats 022622
Contracts accepted Stats for week ending February 26 2022

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

2022

Month        New   Closed   Contracts accepted

January          422         492              623

February        523         520              724

Totals        945     1012        1347

2021

January          543         649              829

February        561          604              778

Totals       1104     1253        1607

2020

January         1105         566              858

February       1267         529            1024

Totals       2372     1095       1882

Take a look at the numbers and you can see why prices are rising the way they are. January and February are usually slower months.  Last year March increased dramatically.

This is the last full week of February.  Monday the 28th will be added to March.  Check back with us every Saturday for the market update.

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 is a fantastic time to be a seller!  By the time you get to closing the temperatures will be better for moving.  Request a home valuation and we will give you and estimate of what your home is worth in today’s market.  We will provide you with a net proceeds that shows you the expenses to sell.  The net proceeds will be updated when an offer comes in and we know all the terms so you can see what you will walk away with so you can make a good decision.

If you want to be a buyer you have to be patient and aggressive.  You will be up against multiple offers so you need to be aggressive with pricing and patient because not everyone can win.  If you need to get financing you have to get all your financial information to a loan officer and go through underwriting so all you need is to update title and order appraisal.  Anything less will not get accepted.  No more waiting until the weekend to look because it will be gone by then.

We will guide you through the process and let you know what needs to be done.

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 to see what interest rate you will be offered.  It depends on your credit score.  They will help you if you need to bring it up.

All data used is from our MLS  MRED,LLC.

Let us know if we can set you up to receive email alerts when a home hits the market.  Just let us know the area, price range and any other criteria.

Fox Valley home prices February 26 2022.  Have an awesome week!

Kristine Heiman, SFR, SRS, AHWD

Designated Managing Broker

Best Homes Fox Valley

200 Webster St

Montgomery, IL 60538

630-503-6555 ext 101

Search for a home today!

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