Real Estate Market

Fox Valley Market Trends - March 2018

U.S. Market Data Overview

Note: Jan. 2018 data shown below is the most recent published by National Association of Realtors.

Sales of existing homes in January dipped for the second straight month, and saw their most significant decline on an annual basis in more than three years. Data from the National Association of Realtors® (NAR) indicates that all major regions saw monthly and annual sales declines last month.

Total existing-home sales (completed transactions for single-family homes, townhomes, condominiums and co-ops), fell 3.2% in January to 5.38 million from 5.56 million in December 2017. Sales are 4.8% lower than a year ago (largest annual decline since August 2014 at 5.5%) and sit at their slowest pace since last September (5.37 million).

NAR's chief economist, Lawrence Yun, said that January’s downturn in closings underscores the housing market’s major inventory shortage. “The utter lack of sufficient housing supply and its influence on higher home prices muted overall sales activity in much of the U.S. last month,” Yun said. “While the good news is that Realtors® in most areas are saying buyer traffic is even stronger than the beginning of last year, sales failed to follow course and far lagged last January’s pace. It’s very clear that too many markets right now are becoming less affordable and desperately need more new listings to calm the speedy price growth.”

January's U.S. median existing-home price (all housing types) was $240,500, up 5.8% from January 2017 ($227,300). January’s price increase represents the 71st straight month of year-over-year gains.

American total housing inventory at the end of January grew 4.1% to 1.52 million existing homes available for sale, but is still 9.5% below a year ago (1.68 million) and has fallen year-over-year for 32 straight months. Unsold inventory sits at a 3.4-month supply at the current sales pace.

First-time buyers drive 29% of sales in January, which is down from 32% in December 2017 and 33% one year ago. The annual share of first-time buyers was 34%.

Freddie Mac data shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage got a boost for the fourth consecutive month to 4.03% in January from 3.95% in December. The average commitment rate for all of 2017 was 3.99%.

All-cash sales were 22% of transactions in January, which is up from 20% in December 2017 but down from 23% a year ago.


St. Charles Housing Market Update

$605,848 (Average List Price)

4.0 Bedrooms/3.5 Bathrooms

3,300 sq. ft. (Median House Size)

$148 (Price per Sq. Ft.)

407 (Number of Listed Homes)

Investing in Real Estate

Today's low interest rates and rising home prices have created some great investment opportunities!

Investing in real estate has unique advantages over other types of investments. Let's take a look at some of the reasons why real estate investment should be on the "short list" for many investors:

  • Interest in mortgage loans are tax-deductible. Investors can lower their tax liability while increasing their equity.

  • Renters pay down your mortgage loan. Investors reap the benefits of rental income, which offsets your mortgage cost and build equity.

  • Real Estate values increase over the long term. Real Estate is limited and will always be in demand.

  • 1031 exchanges are available to defer taxable income when you are ready to sell.

Many investors are taking advantage of these great market conditions. Have questions? Give us a call. We are happy to help!

Enhance Your Curb Appeal for Spring!

Are you ready to "Spring" into the Fox River Valley? With the temperatures rising and the snow melting, now is the perfect time to start enhancing your home's curb appeal so it is ready for the market. Follow these simple tips to have your home looking its absolute best!

1. Make the Front Door a focal point. Choose a new color that stands out from the rest of the house. Update the knocker and hardware.

2. Ensure that your House Numbers are easy to read. Go across the street from your home to make sure the font is clear and the view is unobstructed. If you need to move its location, place the numbers horizontally and near a porch light so they can be read anytime of the day.

3. Add a cluster of 3 different sized Flower Pots to your front porch and fill them with beautiful spring flowers.

4. Create Illumination by updating lights on the front porch and adding landscape lighting along the front walkway.

5. Consider changing your straight Walkway to one that curves through the front lawn in order to draw the eye through the landscaping.

6. Check your Roof for any damage and hire a professional now to fix the problems as soon as possible.

7. Power clean the Siding to remove the winter grime and have the exterior look brand new. Clean the Windows inside and outside to make sure they sparkle.

8. Check Driveway for cracks and make necessary repairs.

9. Look for patchy areas in the Grass and reseed or sod so it looks perfectly green this spring.

10. Draw buyers to your front door by adding Fragrant Flowers and Plants.

11. Landscape right at the Curb to add depth and color to your front yard.

For more helpful Home Selling Tips, visit our Website and follow us on Facebook.