Fox Valley home prices January 22 2022
Fox Valley home prices January 22 2022. New listings of single family homes were up slightly. 110 this week compared to 94 the previous week.
Closed listings of single family homes this week was down. 122 this week compared to 127 the previous week.
The market is off to a slow start so far this year here in the Fox Valley area.
Take a look at the communities with the most activity this week:
Aurora-New 18 $135,000-$1,075,000
Closed-7 $85,000-$410,000
Bolingbrook-New 8 $145,000-$329,900
Closed-11 $221,000-$439,900
Naperville-New 22 $360,000-$4,800,000
Closed-18 $315,000-$820,000
Plainfield-New 17 $299,900-$799,900
Closed-23 $235,000-$550,000
I just highlighted the communities with the most activity. You can see the rest of the communities that had activity in the picture above. You will notice that week after week these same communities are always on the list of most activity. It depends on what you are looking for in a community. One that is consistently active, or one that is more stable.
Financing most used, median prices and 2,000 SF or more
The median list price this week on single family homes is $369,995, last week the median price was $350,000.
Closed median price was $354,000 this week, last week $331,000 on single family homes.
Conventional financing was used to close 89 single family homes this week at a median price of $374,900, last week 90 single family homes at median price of $365,000.
Cash was used to close on 15 single family homes at a median price of $295,000 this week, last week 18 at median price of $282,500.
FHA financing was used to close 9 single family homes at a median price of $320,710 this week, last week 18 homes at median price of $258,500.
VA financing was used to close 9 single family homes at a median price of $300,500 this week, last week 1 at $432,990.
71 single family homes closed this week that were 2,000 square feet or more at a median price of $404,000, last week 70 homes at median price of $434,000.
The minimum price this week for 2,000 or more square feet closed at a price of $280,000, last week $235,000. What a difference a week makes! If you are looking for more space you might have to be patient until the right one comes on the market.
Contracts accepted this week
Contracts accepted on single family homes were down. 163 this week compared to 172 the previous week. We are having a slow trickle of homes coming on the market. This is not surprising.
Look at the communities seller’s accepted the most contracts this week:
Aurora-29 Bolingbrook-10
Naperville-28 Plainfield-18
St Charles-13
The median price that received a contract this week is $350,000. $68,000 was the minimum price on single family homes. Average market time was 49 days this week.
No short sales were accepted this week by seller’s. That does not mean that there are no short sales listed.
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 4 with 48 hours.
Also, seller’s accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 hours, 3 with 48 hours and 1 with 24 hours.
2022 by the month
Month New Closed Contracts accepted
January 310 371 445
Check back with us every Saturday for the market update. At the end of each month we will also include the numbers for 2021 and 2020 so you can see how this year is going compared to those previous 2 years.
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 might be more information than you are looking for. You might just like to see a graph, but I like to break it down a little more.
You will be the one to decide what information you want, and how often, once we start working together. Do you want a more broad area to look, or a more defined area. Will you look at any age, type of home, or do you want to only view a set criteria of homes?
It all starts with getting your financial information to a lender to get pre approved.
If you are thinking about selling your home request a home valuation. Give us some details about your home and what has been recently updated. We will show you what the market is doing with your type of home in your area. Provide a net proceeds that shows an estimate of expenses to sell that will be updated when an offer comes in and we know all the terms.
Resources:
Types of loans and the process
If you are already working with a loan officer check with them for the rate they are offering you with your credit score. They also might offer some assistance. You will need to ask.
Buying or selling a home is a big deal. You want someone that will look out for you and guide you through the process. We want to be your REALTOR®.
All data used is from our MLS MRED, LLC.
Fox Valley home prices January 22 2022. Have a great week!
Kristine Heiman, SFR, SRS, AHWD, C2EX
Designated Managing Broker
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101
