Since April of this year, area home prices have seen an increase of almost $10,000 in St. Charles. Of course, inventory plummeted 20% during the past two months, which was the stimulator for the increase. Less homes on the market, the more you get for the ones that are.

Good ole supply and demand. Supply benefits the home buyer, but demand is the friend of home sellers. Some homes for sale are receiving multiple offers, and realtors are reporting more homes being sold for the listed price much like that seen in 2006. Although data is still coming in, home values appear to be stabilizing and home prices are experiencing an upward trend.

It’s all about inventory, and the more stellar areas of St. Charles are seeing inventory drop as smart buyers are investing and taking advantage of incentives. The decrease in inventory may also be due to sellers sitting on the sidelines waiting for home prices to rise higher.

The huge disparity between the timeframe homes are sold is interesting to note. Many homes priced right are selling within 60 days, while others that are overpriced sit on the market for 180 days or longer.

Regardless of the peripherals, it appears that recovery may be visiting St. Charles. We can only hope.