Fox Valley home prices January 28th
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.
Aurora-New 15 $149,900-$640,517
Elburn-New 10 $395,000-$1,295,000
Naperville-New 18 $300,000-$1,100,000
Oswego-New 10 $215,000-$475,000
Plainfield-New 24 $279,900-$875,000
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.
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.
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.
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.
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.
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.
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.
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.
2023 by the month and a look back at 2022 and 2021
Month New Closed Under contract
January 483 326 470
Month New Closed Under contract
January 422 492 623
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.
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.
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- IHDA programs
- Request home valuation
- Sign-up for email alerts
- Search for homes
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.
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