In St. Charles IL there have been 184 closed sales as of May 31, 2012 at an average closed price of $326,779 . This is almost exactly the same as the 183 closed sales in the same period in 2011, but the average closed price has decreased from $366,613 in 2011. The number of low priced REOs (bank owned foreclosures) and short sales drives down prices for all homes. The total number of distressed property sales has increased about 30% in the past year, and now represents about 30% of all transactions.

The short sales can be really good deals if the buyer is patient and the listing side works hard to get the deal done. For example, I recently represented the buyer in this sale of 5N077 Forest Trail, St. Charles (shown in photo) in a short sale. The homeowner owed close to $800,000 in two loans and we closed on the sale for $475,000. 

Most properties Sold in St. Charles are priced from $150,000 to $400,000. There are many more Active listings than buyers at the higher price points, and these more expensive homes usually have much longer market times. The overall absorption rate, or the the time it would take to sell all the existing listings, is a manageable 6 months for all listings. The absorption rate rapidly climbs, though, at higher price points, and reaches over 7 years on properties listed for more than $1,000,000.

 

If you are thinking of buying or selling a home in St.Charles, IL, I can provide you with the most up to date market information. If you would like a detailed market report for your neighborhood or subdivision in St. Charles IL please give me a call at (630)945-7935 orcontact me.. I am an experienced St. Charles IL real estate agent and I would be delighted to help you. See all the homes for sale in St. Charles.

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St. Charles IL Home Sales
Single Family Homes As of May 31 2012

Closed Sales: 184
Average Closed Price: $326,779
Average Market Time: 197

Under Contract: 153
Average List Price: $355,647
Average Market Time: 231 Days

Active Listings: 481
Average List Price: $568,206
Average Market Time: 263 Days

Data Above Provided by MRED, the Multiple Listing Service of Northern Illinois.
Information deemed to be reliable but not guaranteed to be accurate.

This post was written by Leslie Ebersole of Baird & Warner Real Estate.
Use or reproduction of the material published on this site is expressly prohibited
without the express written permission of the author.

 

FOX VALLEY LIVING

 

My Email leslie.ebersole@bairdwarner.com

My Mobile (630)945-7935

 

1 Comments on St. Charles IL Market Update May 2012

JUN
07

I like have you gave the  valuable information. I don't know if you have a google blog but that would be a good place to post information such as this.
11:33am • #1


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