Hi everyone, and welcome to 2025! This newsletter will sum up the market in the Fox Valley area over 2024. As a reminder, this area roughly covers South Elgin, St. Charles, Geneva, Batavia, and North Aurora. The data only goes west enough to include Mill Creek (Is that in the Fox Valley? What do you think?) And then to the East, the data pretty much stops around Kirk Road.
The data also includes all types of residential properties, all types of sales (Conv, REO, Short, etc), and all price ranges.
The numbers tell a compelling story: Fox Valley's housing market remains robust, with the median home price reaching $478,000 by the end of 2024 - marking an 8.1% appreciation from the previous year. This steady growth reflects the sustained demand for Fox Valley properties.
Market efficiency remains impressive, with homes selling in an average of 30 days. This represents an 8% decrease from the previous year, demonstrating how rapidly properties continue to move in today's market.
Perhaps the most telling market indicator is Fox Valley's current inventory level: just over one month of supply. This exceptionally low figure signals a strong seller's market, as a balanced market typically requires five months of supply. This metric remains almost unchanged from the previous year, indicating sustained market conditions.
Looking at price per square foot metrics (I acknowledge this is not the best way to valuate homes, but it has some use), the data shows continued appreciation. The year-end figure of $209 represents a 7.7% increase from 2023, indicating strong market fundamentals.
And the following is the average showings a home must endure before going under contract and closing. We’re trending down slightly on this, ending the year at a 13 showing average, down 20% from the previous year.
And the final stat…. There are currently 1779 homes under contract in the Fox Valley TODAY. Real estate transactions continue regardless of market conditions, driven by life changes, relocations, and other fundamental factors that necessitate housing decisions.
All data courtesy of InfoSparks.
