Fox Valley Market Update August 31 2019
Fox Valley market update August 31 2019. New listings of single family homes were consistent this week. 290 this week compared to 292 the week before. We love consistency! That is even with a holiday coming up. Usually the week leading up to a holiday is a little slower than normal.
2019 so far by the month:
Total-11,890 May was the month with the most new listings of single family homes so far.
Take a look at the communities with the most activity this week:
Batavia-New 9 $172,500-$550,000
Bolingbrook-New 19 $176,900-$484,256
Geneva-New 12 $330,000-$2,800,000
Montgomery-New 18 $148,899-$297,990
Naperville-New 54 $278,500-$1,499,000
Oswego-New 19 $149,900-$724,000
Plainfield-New 41 $185,000-$575,000
St Charles/Campton Hills-New 25 $234,500-$1,995,000
West Chicago-New 4 $265,000-$430,000
Yorkville-New 12 $154,900-$439,934
Closed listings of single family homes were slightly higher this week. 292 this week compared to 221 the week before. This was not a typical month. Usually the end of the month you see the most closings. The first week there were 341 closings but most of them were the end of July closings in the first part of that week and ending on August 3rd. The 3rd week ending on August 17th was the next highest with 255. They were trying to close before the first day of school starting.
Closings by the month in 2019:
Total-7,653 August was slightly higher than May so far this year. The school year calendar was the driver for this years activity.
Contracts accepted this week
Contracts accepted this week on single family homes was slightly lower this week. 227 this week compared to 234 the week before. Not too bad for the hustle of the kids getting back to school and Labor Day coming up.
Contracts accepted so far by the month for 2019:
Total-9,306 May so far is the busiest month for contracts accepted by sellers.
You are probably wondering why I am keeping track of when contracts get accepted but I do think it is important. When you look back at the month with the most listings you see that it makes sense. March was the next highest month for new listings and it is also the next highest month for contracts accepted. Buyers had more choice.
Look at the communities this week that sellers accepted the most contracts:
Aurora-43 Batavia-11 Bolingbrook-15
Montgomery-11 Naperville-32 Plainfield-34
St Charles/Campton Hills-19
Short sales accepted this week still remain low. 3 this week compared to 1 the week before. 1 each in Naperville, St Charles/Campton Hills and Yorkville.
Sellers accepted contracts this week that are contingent on buyer closing on their current home. 3 with a kick-out clause of 72 hours, 5 with 48 hours and 2 with 24 hours.
Contracts were also accepted by sellers that are contingent on the buyer selling and closing on their current home. 5 with a kick-out clause of 72 hours, 4 with 48 hours and 1 with 24 hours.
Call us at 630-503-6555 with your real estate questions. Our goal is your goal. We will work hard to meet your goals whether buying or selling a home. We will guide you through the process and make recommendations for real estate attorneys, loan officers and home inspectors.
Provide you with a net proceeds that shows you the expenses to sell a home so you can make a good decision if it is the right time for you. Let you know what you need to do to get your home market ready. If you do not want to make the updates we can price it accordingly.
Resources to check out:
- Types of loans and the process
- VA loans and the requirements
- Current interest rates
- Down payment assistance
- Illinois homeowner assistance and some communities
- School ratings
Fox Valley market update August 31 2019. Have a great week and a fantastic Labor Day weekend!
Kristine Heiman, Managing Broker
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