January 2013 Home Sales Jump in St. Charles

By Lauren Williamson

The 38 detached, single-family homes sold in St. Charles during January represented a 31 percent increase over January 2012, when 29 homes were sold, according to the Mainstreet Organization of Realtors.

The number of St. Charles home sales continues a trend of year-to-year increases in the local housing market. St. Charles saw a 75.9 percent spike in December home sales to 51 homes, compared with just 29 homes sold a year earlier, MORe reported a month ago.

Meantime, the median price of homes dropped 21.5 percent to $251,246 in January, compared with $320,000 a year earlier. That’s contrary to the sharp increase in median home prices recorded in December from a year earlier.

The market for detached, single-family homes grew in January elsewhere in the Tri-Cities, MORe reported. MORe gets its statistics from Midwest Real Estate Data.

Batavia saw a 15.4 percent drop over January 2012, when 13 homes were sold, according to the MORe.

Geneva saw the largest percent increase, with 76.9 percent more homes sold year over year in January. There were 23 homes sold that month in 2013 and 13 in 2012. 

Overall across the Chicago suburbs, sales of single-family detached homes rose 37.5 percent in January over the same month in 2012, according to MORe. 

MORe predicts February will be another month of local housing market growth, as the number of detached homes under contract in January 2013 was 60 percent higher than in January 2012. 

“I am encouraged to see yet another month of double-digit growth in sales volume in January,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “The opportunity available in today’s marketplace is almost unprecedented. Fasten your seat belts because this promises to be an outstanding year for the Chicago area housing market.”

Number of homes sold

Median price

Town

2013

2012

Percent change

2013

2012

Percent change

Batavia

11

13

-15.4%

129,000

228,500

-43.5%

Geneva

23

13

76.9%

299,990

311,000

-3.5%

St. Charles

38

29

31%

251,246

320,000

-21.5%

SOURCE: Mainstreet Organization of Realtors

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