Fox Valley home prices April 2 2022

Fox Valley home prices April 2 2022.  We will show you the communities that are the most active, median prices, financing used, how many contracts were accepted this week.  Compare what has happened so far this year and look back at 2021 and 2020 so you can see how this year is going so far.  Share resources and how to contact us with questions.

New listing of single family homes were up.  189 this week compare to 168 the previous week.

Closed listings were also up.  202 this week compared to 171 the previous week.

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

Aurora-New 20 $149,900-$499,900

            Closed-29 $115,000-$750,000

Bolingbrook-New 13 $269,000-$520,000

                    Closed-15 $186,000-$614,900

Naperville-New 35 $300,000-$1,849,000

                 Closed-31 $310,000-$2,550,000

Oswego-New 18 $230,000-$799,900

             Closed-12 $235,000-$751,050

Plainfield-New 23 $289,000-$619,700

                Closed-23 $235,000-$949,567

St Charles-New 15 $149,999-$849,900

                  Closed-20 $190,000-$1,050,000

Yorkville-New 7 $319,000-$924,900

               Closed-10 $169,900-$670,000

Other communities had activity this week.  Click on the photo above to see.

Financing most used, median prices and 2,000 SF or more

Median list price this week $379,000, last week $390,000.

Closed median price this week $389,950, last week $370,000.

Conventional financing was used to close on 147 single family homes with a median price of $411,000 with 29 average market days, last week 117 homes with median price of $405,000 with 36 average market days.

Cash was used to close on 27 homes with median price of $380,000 with 12 average market days, last week 18 homes with median price of $457,750 with 21 average market time.

FHA financing was used to close on 23 homes with median price of $313,000 and 29 average market time, last week 28 homes at median price of $269,500 with 20 days average market time.

VA financing was used to close on 6 homes this week with a median price of $339,000 and average market time of 76 days, last week 8 homes with median price of $498,750 and 41 days average market time.

People looking for a home that was at least 2,000 square feet or more closed on 120 homes at a median price of $459,500 with 28 days average market time, last week 93 homes with a median price of $462,500 with 34 days average market time.  The minimum price this week $299,000, last week $277,000.

Right now the financing you use makes a difference, but it is not the only thing.  Timing and other terms might be more important for a seller.  Finding out is key.

Contracts accepted this week

Contracts accepted this week were consistent.  220 this week compared to 222 the previous week.  That is pretty consistent.  They would be higher though with more listings.  We are still dealing with not enough homes for the buyers that are out there looking.

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

Aurora-26                   Bolingbrook-20

Montgomery-12           Naperville-41

Oswego-14                  Plainfield-28

St Charles-13             Sycamore-12

No short sales were accepted by seller’s this week.  Some people that are struggling can sell and still get money at closing.  Prices have increased enough that they do not have to sell short.

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

Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home.  4 with a kick-out clause of 48 hours and 1 with 24 hours.

The median price of the 220 homes that received contracts this week was $369,950 with 20 days average market time.  Last week 222 homes received a contract with median price of $394,950 with 20 days average market time.  We will not know the price they agreed to until they close.

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

March            923         1106               1110

Totals       1868     2118         2457

2021

January          543         649                829

February        561          604                778

March            993         1099              1455

Totals       2097     2352         3062

2020

January         1105          566                858

February       1267          529              1024

March            1186          707              1079

Totals       3558     1802         2961

New listings has decreased every year.  This is why prices have increased.

More of the homes that have gone under contract that actually closed has increased every year.  It has helped that loan officers are putting buyer’s through underwriting instead of just getting their information over the phone and checking their credit.  We know the buyer’s are good to go and just need to make sure the appraisal works out and no issues with title.

Resources

Types of loans and the process

VA loans and the requirements

Current interest rates

Down payment assistance

IHDA programs

If you are looking for any other information just let us know and we will point you in the right direction.

You will need to contract your loan officer to see what interest rate you will be offered.  It depends on your credit score.  The better your credit score the better the rate you will be offered.  They can help you to increase your score if you need it.  Just ask them what you can do.

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.

Request a home valuation if you are thinking about selling your home.  We will let you know what it might sell for and show you an estimate of expenses to sell.  This will be updated when an offer comes in and we know all the terms so you can make a good decision.

If you are thinking about buying a home you need to start with a loan officer and get them all your financial information so they can run you through underwriting to get you pre approved.  You will be ready to go then and once you find a home all you need to do is make sure it appraises out and get the title updated.  You can sign up to get homes emailed to you as they hit the market.  All you need to do is sign up for email alerts.  You can also go to my facebook page  and click on “shop now” to search for homes.

We will guide you through the process.

All data provided is from our MLS.  MRED, LLC

Fox Valley home prices April 2 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!