Fox Valley home prices February 25th
Fox Valley home prices February 25th. Weather here in the Fox Valley area of Illinois is like being on a roller coaster. This next week we will go from 40° to 60° back to 40° again.
New listings are down. 120 this week compared to 169 the previous week.
Closed listings are up. 103 this week compared to 88 the previous week.
Aurora-New 16 $135,000-$710,000
Naperville-New 19 $450,000-$3,250,000
Plainfield-New 24 $220,000-$595,000
Yorkville-New 1 $669,000
Click on the photo above to see other communities that had activity this week. We are just highlighted the communities with the most activity.
Financing used, median price, and 2,000 SF or more
Median list price this week $400,000, last week $399,990
Closed median price this week $385,000, last week $339,000.
Conventional financing was used to close on 70 homes this week at median price $386,500 with 46 days average market time, last week 61 homes at median price $335,000 with 65 days average market time.
Cash was used to close on 13 homes this week at median price $415,000 with 45 days average market time, last week 19 homes at median price $270,000 with 69 days average market time.
FHA financing was used to close on 12 homes this week with median price $299,500 with 70 days average market time, last week 6 homes at median price $306,500 with 72 days average market time.
VA financing was used to close on 8 homes this week at median price $465,000 with 46 days average market time, last week 1 homes $423,990 with 53 days average market time.
2,000 square feet or more closed on 63 homes this week at median price $450,000 with 58 days average market time, last week 51 homes at median price $450,000 with 63 days average market time. Minimum price this week $245,000, last week $108,000.
Conventional financing continues to be the financing to use. We will see if lowering the MIP for FHA loans March 20th will have an impact. Stay tuned.
Under contract this week
Homes that went under contract this week are slightly up. 166 this week compared to 152 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. 2 with a kick-out clause of 72 hours and 3 with 48 hours.
Also, seller’s accepted contract that are contingent on the buyer selling and closing on their current home. 3 with a kick-our clause of 72 hours and 1 with 48 hours.
Homes that went under contract this week had a median price $377,400 with 45 days average market time, last week median price $391,950 with 54 days average market time.
2023 by the month
Month New Closed Under contract
January 483 326 470
February 503 382 642
Totals 986 708 1112
Next week we will also take a look back at 2022 and 2021 so you can see how this year is going.
Click on each bullet point to take you to the site for the information.
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Check with your loan officer for the interest rate you will be offered. Looking at the current rate is fine but you need to know what interest rate you will be offered. It depends on a few things. One of them is your credit score.
All data was provided by our MLS, MRED, LLC. It changes throughout the day.
Call us at 630-503-6555 with all your real estate questions. Your goal is our goal.
Fox Valley home prices February 25th. Have an awesome week!
Kristine Heiman, Designated Managing Broker
SFR, SRS, SRES, AHWD
Best Homes Fox Valley
200 Webster St
Montgomery, IL 60538
630-503-6555 Ext 101