Market Update Fox Valley-April 14 2018
Market update Fox Valley-April 14 2018. New listings were down this week. 388 this week compared to 450 last week. It has been a varied weather week with snow on Monday and then 70’s on Wednesday. We are supposed to have snow again this Monday. Are you waiting for the nice weather? Buyers are not waiting. They are actively looking for homes so there is no reason to wait.
Homes that closed this week were up. 218 this week compared to 176 last week. That is unusual for the beginning of the month. Usually it is lower and then starts building in numbers heading into the end of the month.
Take a look at the communities this week with the most activity:
Aurora-New 48 $100,000-$625,000 Closed-32 $73,900-$589,900 Active-230 $59,000-$1,450,000 with 5 Auctions
Batavia-New 11 $255,000-$814,900 Closed-10 $215,000-$618,600 Active-85 $179,000-$3,995,000 with 1 Auction
Bolingbrook-New 25 $115,000-$424,900 Closed-11 $160,000-$385,000 Active-107 $115,000-$625,000 with 2 Auctions
Elburn-New 11 $239,900-$677,700 Closed-4 $295,000-$470,000 Active-73 $179,900-$1,675,000
Geneva-New 22 $199,900-$575,000 Closed-7 $249,000-$452,000 Active-145 $199,900-$1,750,000
Montgomery-New 10 $164,900-$293,000 Closed-12 $165,000-$277,400 Active-51 $149,900-$325,000
Naperville-New 83 $259,000-$2,100,000 Closed-39 $242,000-$940,000 Active– 575 $219,900-$7,425,000 with 2 Auctions
Oswego-New 8 $135,000-$429,900 Closed-15 $186,000-$353,000 Active-102 $119,900-$1,595,000
Plainfield-New 46 $149,499-$895,000 Closed-28 $162,000-$445,000 Active-280 $149,499-$1,195,000 with 2 Auctions
St Charles/-New 44 $222,900-$1,375,000 Closed-13 $185,000-$929,900 Active-382 $155,000-$3,950,000
West Chicago-New 13 $179,900-$448,900 Closed-3 $169,550-$215,000 Active-83 $128,501-$949,900 with 1 Auction
Yorkville/-New 10 $175,000-$425,000 Closed-8 $153,000-$505,295 Active-109 $175,000-$975,000 with 1 Auction
Ask us about private listings. Some properties do not want to be listed publicly and others they have them in the private listing while they are getting them ready for market. Some we can show and they have a price listed and then others have no price and can not be shown before listing date. They are just letting you know that the listing is coming soon.
Contracts accepted this week
Contracts accepted this week from sellers were up this week. 321 this week compared to 279 last week. We need new listings to replace these that are now off the market. Buyers are actively looking for homes. Now is the time if you are thinking about selling this year.
Take a look at the communities that sellers accepted the most contracts:
Plainfield-38 St Charles/Campton Hills-21
Short Sales this week were exactly the same as last week with 6 contracts accepted by sellers. Now they will be submitted to the lender to see if they will also accept as written.
Sellers accepted contracts with the contingency of the buyers home closing. Buyers have already accepted a contract on their home but need to close before purchasing. 7 with a 72 hour kick-out clause, 17 with 48 hours and 4 with 24 hours.
Contracts were also accepted by sellers with a contingency on the buyers home selling and closing. Buyers current home might or might not already be on the market. They have not accepted a contract on their home. They need to sell their current home and close before purchasing. 2 with a 72 hour kick-out clause and 6 with 48 hours.
If you are thinking about selling your home you will need a market analysis to let you know the value in the current market. Pricing your home right from the beginning is very important. If you overprice your home it will sit and will not sell. Testing the market is not wise. Buyers are pretty savvy. They are looking for the best value and are looking and comparing.
Thinking about purchasing? You will first need to contact a loan officer and get pre-approved. They will provide you with a letter showing what you qualify for. That will need to go with an offer when you find a home. You can find out about the different types of loans and the process so when you contact a loan officer you know what questions to ask.
Check out down payment assistance to see if you qualify. Once you know what you qualify for talk to your lender. Sometimes they also offer help.
Take a look at interest rates. Your credit score will determine what interest rate you get. Your loan officer can help you work on your score if there are things you can do to bring it up.
Look at school ratings. Whether you have kids or not buying in a good school district will help you with value when you go to sell your home.
Give us a call at 630-503-6555 Jeffery Szymczak-Broker ext 104, Bobby Burson-Broker ext 105 or Kristine Heiman-Managing Broker ext 101. Our goal is to negotiate price and terms that are best. We make it our business to find the perfect fit for your needs.
Market update Fox Valley-April 14 2018. Have a great week!
Kristine Heiman-Managing Broker
1444 N Farnsworth Ave Suite 104
Aurora, IL 60505