There have been a tremendous amount of home sales in the communities in St. Charles County since April 2013. Just last month, home sales in July, were as follows: O'Fallon with zip code of 63366 ... 90 homes sold; St. Peters ... 109 homes sold; O'Fallon with zip code of 63368 ... 75 homes sold; St. Charles with zip code of 63304 ... 76 properties sold.
Just in the past few days, I've noticed that the listing prices of homes in St. Charles County have gone back to being inflated for the properties just coming active on the market. Yes, the fabulous amount of home sales has spurred home sellers to get on the market and become part of this current upswing in sales. However, what they are failing to realize (and their Realtors should properly advise them), is that these properties that sold in the past few months were extremely realistically priced. That's why they sold quickly and 90% of them sold within $10,000 of the list price.
Perhaps St. Charles County home sellers feel that the Buyers are getting desperate for homes to buy. I do not feel we are in that stage of the current Sellers Market. I do know their are still home buyers wanting to purchase and they have been looking, at least on-line, at homes for sale and have seen the ones that have sold ... and for what price. They will now realize that the homes coming on the market are inflating their asking price.
It's been wonderful experiencing the sellers market in St. Charles County and this sales activity can continue through October if sellers remain realistic. With overpricing their homes, they will become discouraged that the market may dim and it will take longer for their homes to sell.
My advice to home sellers ... study the recent sales ... and price your home accordingly. You will sell your home quicker.
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