Comparing the St. Charles County Real Estate Market Statistics to 2010-4th Quarter Results
|Month||Sale Price to List Price Ratio 2011||Sale Price to List Price Ratio 2012||Sale Price to List Price Ratio 2013|
*Data above is from MARIS
Key Numbers from St.Charles County Real Estate Market Statistics
Median Sales Price: As you can see in the graph above the median sales price was down 9% compared to 2010. Is that good news or bad news? It all depends if you are a buyer or a seller.
Average Sales Price: The average sales price was down by 8.8% compared to 2010.
% of Original Asking Price Received by Sellers: Sellers were able to sell their homes at 90.8% of what they originally listed it for. An improvement of only 0.7% compared to 2010.
Homes for Sale: The number of actual homes for sale dropped 29.9% compared to 2010. Potential sellers on the sidelines waiting to see what the market will do, will prices stabilize?
Closed Sales: It’s interesting to note that while the actual number of homes for sale was down almost 30% the number of closed sales were up 16%.
Months Supply of Inventory: The report shows 6.2 month supply of homes down 34.8% from 2010.
This number shows how many months it would take for all the current homes for sale on the market to sell, given a monthly sales volume. Four to five months of supply is average: if the number is smaller, this means that buyers are dominating the market and there are relatively few sellers. The greater the number, this means there are more sellers than buyers. Looks like a continued Buyer’s market.
Days on Market: How long it took the home to sell. The average days on market was 97. This was up +5.7% from last year. In other words it took 5.7% longer to sell your home in St. Charles County compared to the same time in 2010.
Location, Location, Location. Real Estate is Local and Needs to be Compared
The abover report covers the entire St. Charles County. If you are a potential buyer you will want to focus in on specific areas to see what’s really happening.
For an example: Why did median prices go up by almost 20% in one zip code area while another zip code had prices plummeting downwards 20%? There can be many factors involved and it’s hard to interpret unless you have more data.
We here at Finding Homes for You are sometimes called “Data Geeks” a label we wear proudly. We would be happy to answer any questions you might have about current market conditions and buying opportunities. Our company only represents buyers, and we do not have listings to sell or promote. We’ve been called the Homebuyer’s Best Friend. (See Reviews) Call us today at 636-532-4200.