The Kombrink Team at RE/MAX Great American North has put together their St Charles IL Real Estate Market Report for December 2013.
This report gives you a complete snapshot of the current housing market as well as historical data for St Charles, Illinois.
The interactive infographic below hits on most of the key numbers in the report. To view all of the numbers, and what they mean to you, scroll down.
HOMES FOR SALE
There are currently 442 homes for sale in St Charles. This represents a -20.5% drop from the same period one year ago. It's a -29.5% drop from two years ago when there were 627 homes for sale. This is welcome news for home sellers as there is less competition in the marketplace.
SOLD HOMES
There have been 973 homes sold in St Charles during the last 12 months. This is up a whopping 42% from one year ago. This time period two years ago saw only 604 home sell. Again, good news for sellers as this shows buyers are coming back into the market.
AVERAGE LIST PRICE
The average list price has remained fairly steady since December 2010. The typical home in St Charles is priced at $414,454.
AVERAGE SALE PRICE
Sale prices are up slightly over last year. The average sale price rose 2.8% over last year to $324,830. This is welcome news for both buyers and sellers. It indicates that home values are not decreasing and buyers are still able to find bargains in the marketplace.
MARKET TIME
Market time, that's the amount of time a home is on the market until it sells, has dropped dramatically. The average home in St Charles is on the market for 139 days, down -21.9% from last year.
COMMENTARY
St Charles has transitioned into a stable market over the last couple of years. By looking at the number of homes for sale and how many are selling each month, we are able to determine the months supply of housing.
For example, if there are 10 homes on the market and 5 sell each month, we would have a 2 months supply of housing.
St Charles currently has a 6.1 month supply. The norm is between 5-6 months. This puts us right in that range where we have equal supply to demand.
This represents a huge change from two years ago when we had a 13.1 month supply.
If you have questions about the real estate market in St Charles, don't hesitate to give The Kombrink Team at call at 630-488-3300.
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