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Wild Rose Homes for Sale: Where Did the Sellers Go?

A Wildrose Homes for Sale analysis of pricing and sales trends in the neighborhood, inventory levels, percentage of list price received.

Wildrose Homes for Sale is the topic of this brief analysis of our local real estate market. Watch the attached video discussion of pricing trends in the neighborhood, inventory levels, percentage of list price received and number of sales.

Wild Rose is positioned for an interesting spring for both buyers and sellers because of changing market dynamics. Check out why in the video!

For more information or further questions, contact Scott Nowling at Prudential Starck, www.scottnowling.com, or 630-2540-5004.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Brian Townsend February 11, 2013 at 06:20 PM
Scott - I was talking to another local realtor recently and she said that the inventory of homes for sale in the St. Charles market stood at about 4 months and that 6 months of inventory is considered the standard. She said more inventory (homes for sale) was needed to satisfy demand. She also said that the median home sale price in St. Charles was the highest in the area and could go higher. Thoughts?
STC February 11, 2013 at 06:26 PM
Nice presentation. Supply is definately low, if demand continues, prices will go up for sure. I'm not sure I would have combined Wild Rose and the Timbers. They are a somewhat different product.
Scott Nowling February 11, 2013 at 09:32 PM
STC- I think you're right, they're different, but I only have so much in my video can that I felt they were close enough to give a sense of value. Brian-The data set I review combines Campton Hills with St. Charles. When comparing January 2011, 2012 & 2013, the months supply of detached single family homes in that blended area decreased by essentially half to 6.5 months. Some neighborhoods have more inventory, some less. With regard to median prices, Geneva actually wins on that score with a median sale price of $315K, $20K higher than the median in St. Charles in the 12 months ending in January 2013. Mean average price is where St. Charles exceeds Geneva $337K to $319K. With regard to direction, some areas have LOW inventory levels that may coax buyers to pay more and sellers to actually sell, so yes I believe it is realistic to expect higher appreciation than we have in the past several years.

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