School has begun and summer is coming to an end. This typically brings a slowdown to the local real estate market. St Charles, however, still has home buyers and the seller inventory to meet demand.
We all know the terms "sellers market" and "buyers market". St Charles, as a whole, is experiencing neither right now. We're in a stable market.
Depending on where in St Charles you live, though, selling could be a little easier.
The city as a whole has 5.62 months of housing inventory. Anything between 5-6 months is "normal". There are 658 homes (both attached and detached) on the market with 468 homes closed in the last 4 months. Buyers are out there.
Looking at the most active neighborhoods throughout St Charles paints a more accurate picture. There are 23 subdivisions with measurable home sales in the last 4 months. 16 of those are in a sellers market, 2 are stable and 5 are in a buyers market. Here are the results...
A sellers market is defined as an area with less than 5 months of inventory. Sellers can expect a quicker sale for a higher price. Some St Charles neighborhoods that are in a sellers market include Cambridge, Cambridge East, Renaux Manor, Pheasant Run Trails, Cranston Meadows, The Windings of Ferson Creek, Harvest Hills, Traditions at Harvest Hills, Charlemagne, and Crane Road Estates.
Anywhere with over 6 months of inventory brings a buyers market. Home prices tend to dip and the process takes longer. Some of the neighborhoods in a buyers market right now include Fox Mill, Royal Fox, and Prairie Lakes.
If you've been considering selling, reach out to us at (630) 488-3300. We can help you leverage current market conditions in your neighborhood.
This article was originally published on Wednesday, August 31st, 2016 at kombrink.com.