st charles il market data: St Charles IL Market Report | January 3 2011 - 01/04/11 03:55 AM
St Charles IL single family homes sales showed gradual improvement in 2010. The total number of closed transactions is up about 10% while the median price dropped about 3%.
In 2009 there were 395 homes closed for an average price of $383,297.
In 2010 a total of 435 homes closed for an average price of $371,364.
At the entry level of the St Charles IL market -- under $250,000 -- a fair number of the transactions were foreclosures and short sales. Bank owned properties and short sales allow buyers to get a little more for their money if they are able … (1 comments)

st charles il market data: Pricing To Sell in St. Charles, IL: Consider the Absorption Rate - 10/19/10 03:06 AM
Homeowners in St. Charles, IL who are thinking of selling their home need to consider the amount of inventory that they will compete with. Inventory sounds like boxes in a warehouse, but a successful seller needs to "think like a buyer" who is evaluating all the choices he has on the market. Realtors speak of "inventory uptake", or "absorption rate" which is the number of days or months or years it will take to sell off the current inventory at the current rate of sales.
Let's look at a real price point in St. Charles, IL: homes priced at $450,000 to $600,000. There are … (10 comments)

st charles il market data: Redefining Absorption Rate Using Assessed Value - 04/07/10 03:07 AM
I read once again today that the market is "stabilizing", but this means nothing more than what Ronald Reagan so famously quipped about the economy in the early 1980's "the rate of decline is decreasing". The amount of inventory is simply staggering and is due to dramatically increase with the "shadow inventory": homes coming onto the market from pending and imminent mortgage defaults. The loan modification programs simply are not significant fixes, the rate of recidivism within one year is 70% (number of people who default a second time). One internal BofA report says that they have 1,000,000 short sale applications … (2 comments)