Market update Fox Valley February 8 2020
Market update Fox Valley February 8 2020. New listings of single family homes are up 40.24%. 345 new listings this week compared to 246 the week before. If you are still waiting for Spring market you might miss it. It has already started! Let’s get your home on the market.
Closed listings are down 25.6% this week. 93 single family homes closed this week compare to 125 the week before. Low numbers are expected at the beginning of the month. Most buyers want to close towards the end of the month so they come to closing with the least amount of money.
Take a look at the communities with the most activity this week:
Aurora-New 34 $114,900-$600,000
Batavia-New 12 $244,900-$579,000
Bolingbrook-New 17 $179,000-$649,999
Elburn-New 11 $264,900-$492,500
Geneva-New 18 $300,000-$599,500
Montgomery-New 10 $214,900-$317,900
Naperville-New 87 $249,900-$2,399,000
Oswego-New 13 $199,500-$449,900
Plainfield-New 43 $180,000-$1,190,000
St Charles-New 36 $125,000-$1,299,000
Contracts accepted this week
Contracts accepted this week were up 7.69%. 224 contracts accepted on single family homes this week compared to 208 the week before. I am expecting this to jump up next week with all the new listings that came on the market this week. Buyers have a good amount of new choices.
Look at the communities that sellers accepted the most contracts this week:
St Charles/Campton Hills-17
7 short sales were accepted by sellers this week on single family homes. 2 in Bolingbrook and 1 each in Aurora, Oswego, Plainfield, Warrenville and Yorkville.
Sellers accepted contracts that are contingent on the buyer closing on their current home. 1 with a kick-out clause of 72 hours, 8 with 48 hours and 3 with 24 hours.
Also sellers accepted contracts that are contingent on the buyer selling and closing on their current home. 2 with a kick-out clause of 72 and 4 with 48 hours. If this does not make sense to you I would be happy to explain it to you.
2020 market activity by the month
Month New Closed Contracts accepted
January 1105 566 858
February 345 93 208
Fox Valley is off to a good start so far this year. You will have to come back and check out as the year progresses.
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.
Let us update the value of your home in today’s market. We will provide you with a net proceeds that shows you an estimate of expenses to sell. This will be updated when an offer comes in and we know all the terms.
Thinking about buying a home this year? You will need to get pre-qualified with a loan officer to see what type of loan and what price range will work out best for you. They will give you a letter showing all this and it will go with your offer to the seller when you find a home so they know you qualify.
Check out some great resources:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some community assistance
- School ratings
If you are looking for any other information let us know and we will show you where to look. We can recommend loan officers, home inspectors and real estate attorneys for you to choose from if you do not know any of these already.
Market update Fox Valley February 8 2020. Have a great week!
Kristine Heiman, Designated Managing Broker
Best Homes Fox Valley-Search for a home today!
200 Webster St
Montgomery, IL 60538
630-503-6555 ext 101
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