The Purcell Group Real Estate Blog

Welcome to our blog. Our primary focus is to provide you with in-depth insights into the Kane County & St Charles surrounding area real estate market. Our aim is to empower you to make informed decisions whether you're buying, selling, or investing in Kane County real estate. Dive into our posts and remember to subscribe for the latest market updates!

Nov. 28, 2018

Sales Numbers For Kane County 2018

Baird & Warner Fox Valley still staying strong at the #1 position in all of Kane County.  Final results will be released in January 2019. 

We are currently the number 2 office for homes sold in St. Charles, the number 2 office for homes sold in Geneva, and the NUMBER 1 office for homes sold in Batavia. 

Posted in Market Trends
Nov. 1, 2018

Market Trends September 2018

 

In good times I think people forget that real estate prices are cyclical by nature, imagine if your home price was a stock--then your property price would go up and down hourly.  That would cause a lot of fear, or joy, depending on the economy and your particular home value at the end of that day.  Good new is that your home price is not changing hourly, but in a slower market it can change monthly.  In this market it is very important to keep up with the current data and market trends.

Your neighborhood and local area comps are very crucial to one's home value, but that only tells one side of the story.  Real estate is evolving, the way people buy and sell homes is also.  Here in IL with political uncertainly, Realtors need to go beyond just the "comps" and price per square foot. For us at the Purcell Group it is important that each home's value is determined on a case by case basis.  Location is always important--we break down each home's individual upgrades, paint colors, type of flooring, kitchen and master bath remodeling, Jack-n-Jill baths, finished basement space, size of the popular rooms, such as Kitchen, Family Room, and Master Bedroom, yard size, proximity to town, schools, and proximity to amenities. In today's real estate market all homes are not created equal. The current buyers values particular upgrades, features and accessibility over just size.    

As with other investments, it is important to focus on what your house is worth TODAY--not the price you paid for it, or what it was worth 5 years ago, PRICES are always fluctuating.  We are trying to guide our sellers away from their past value and help them sell now for the best prices possible.  Value in today's real estate market is truly a case by case basis and takes a true expert to help determine that for you!

 

September 2018 Trends:

  • Decline in the number of town homes sold in 2018...We feel this was actually due to less available inventory, especially under $300,000.  Prices had also increased in this segment in recent years, and a slight pull back was to be expected.  Demand will be strong in 2019 for town homes. 
  • Number of homes sold are slightly down in Geneva and Batavia in comparison to 2017...the number of homes sold in St. Charles is almost exactly the same as 2017.
  • Demand for ranches and/or 1st floor master bedrooms remains very strong.
  • Demand for updated homes under
  • $400,000 continues to be strong. 
  • Pricing of properties needs to be evaluated on a case by case basis, as interest rates rise, and seasonal slowness effects the local housing market. 

 

 

Posted in Market Trends
Oct. 18, 2018

New Baird & Warner Office-1542 S Randall Rd Geneva Il 60134

Baird & Warner has always been on the cutting edge of technology and innovation. This new office brings the future of real estate all into one place!!! Come check out the Purcell Group at 1542 S Randall Rd, Geneva IL, 60134.

Posted in City Info
Oct. 11, 2018

460 Lancaster-Pingree Grove, IL

Awesome end unit town home w/two story living room offering a wall of windows for sun-lit days and moon-lit nights. Huge eat-in kitchen has center island, appliances, and eating area with sliding glass doors to patio. Second floor laundry for your convenience. Nice-sized loft area on second floor can be an office area or play room. Master bedroom has triple windows, ceiling fan, walk-in closet, and luxury master bath! Bath has vanity with double sinks, separate shower, and soaking tub. The second bedroom has a double window and closet. The hall bath has a vanity and tub/shower. Neutral, open, and airy! You will love the amenities that Cambridge Lakes has to offer--clubhouse, exercise facilities, pool, and exterior maintenance, lawn care, snow removal, and scavenger service! Relax and move into a wonderful community that offers a care-free way of life! You deserve it!  $169,900

 

Posted in Listings
Sept. 24, 2018

Market Trends August 2018

 

August Market Watch:
The overall housing market in Kane County did slow down in August 2018, which has in turn put the housing market behind sales activity for the same period last year in some towns. 
#Number of homes sold in St. Charles up to Aug 31st  2018 = 610
#Number of homes sold in St. Charles up to Aug 31st  2017 = 601
#Number of homes sold in Geneva up to Aug 31st  2018 = 333
#Number of homes sold in Geneva up to Aug 31st  2017 = 366
#Number of homes sold in Batavia up to Aug 31st 2018 = 242
#Number of homes sold in Batavia up to Aug 31st 2017 = 265
What We Thought:
 Below is what we wrote in our June 2018 blog regarding local market trends. 
 
The market has had a nice run up in the last 2-3 years, relativity low rates, and a spark in demand created a stable market.  It's only normal to see some softness in demand and pricing as rates rise, plus the IL economy still continues to create other problems for everyone locally.   So we are cautious for the rest of 2018 and will look at the year-end numbers and reevaluate our opinion of what 2019 may be like.  Inventory levels are low in some segments and demand for the "Hot Trends" mentioned above are still strong. 
So Now What :
1.  Evaluate your time horizon for selling.  We think mid January to late June 2019 will be the "sweet spot" for selling, prior to a possible nation-wide housing slow down. Nobody is certain on how long that may last, but it always better to get in front of that as a seller. 
2. If you are planning on buying a home now, look for the best deal and jump on it before rates continue to rise.  If you have time to wait, I would recommend the end of 2019 for some possible bargains. Rates may be higher, but so will prices--it is town and market segment specific too. 
3. What will the state elections bring? Nobody knows for certain, but could be a major factor. 
4.  In a slower market, always choose the best location when buying.  That will never change, but makes even more sense if prices are down.  LOCATION...LOCATION...LOCATION...
5.  CALL US anytime, so we can guide you through any selling or buying decision.  We have our pulse on this market!!!

 

 

 

Posted in Market Trends
Sept. 12, 2018

The Purcell Group Five Star Professional 2018

 

This award is so meaningful to Eric Purcell and I, as it is voted on by our Clients. Thank you so much for the recognition and appreciation,The Purcell Group couldn't do it without our fabulous friends, photographers, attorneys, lenders, Baird & Warner's staff, inspectors, and the best clients possible!!!

Posted in Market Trends
Sept. 9, 2018

7105 Cupola Court

 

Breathtaking views from wooded 1 acre estate backing to Conservation area on private cul-de-sac! In-ground pool with terraced gardens, pergola, covered paver patio & finished walk-out basement. Chef's kitchen with granite counters & SS appliances flows into vaulted family room with fireplace--Great for entertaining or everyday living!!! $599,900

Posted in Listings
Sept. 7, 2018

4N385 Knoll Creek Drive

 

Gorgeous wooded lot surrounded by nature and wildlife!!! This house is a true 5 bedroom with a 1st floor master bedroom and a full finished basement. This St. Charles home has so much character and potential and is a one of a kind location!!! $489,900

 

 

 

 

 

Posted in Listings
Aug. 25, 2018

Market Trends July 2018

July Market Watch:
Most of the numbers are in line with what we saw in July 2017.  For current trends, please see our June 2018 blog post, https://www.suburbanilhomes.com/blog/market-trends-june-2018/
There were two big improvements we saw from June 2018 to July 2018.
1. The number that stands out the most in this report is the current # of homes under contract in           St. Charles. Last year at this time only 68 homes were currently under contract, and this July there were a whopping 104--that is a 52.9% increase.  Part of the increase was due to people trying to get settled before the school year started. We believe the other reason is that a lot of homes in St. Charles just offered a much better value compared to other homes in similar towns.  Some higher end homes were a borderline steal at certain prices.  There are deals to be had, just need the right Realtor to help you find them!!!
2.  Buyers had stepped in and bought homes in Wayne. The number of homes sold In July 2018 doubled from the same time last year.  Wayne consists of a lot of niche horse properties and larger homes, and the prices had gotten low enough to where buyers thought they were getting a very good value. 

 

Posted in Market Trends
Aug. 7, 2018

Market Trends June 2018

 

4 Hot Trends:
1. Ranches and/or First Floor Master Bedrooms are in demand due to many buyers downsizing from larger homes
2. Homes, Town Homes, or Condos close or in downtown Geneva, as buyers want to enjoy the ability to walk to all the amenities
3. Homes that are in a good location and have been well kept or updated under $400,000, as buyers do not want to pay to do major remodeling or the time it takes to do the projects
4. Town Homes under $300,000 are making a strong comeback as younger and older buyers like the low taxes and maintenance free lifestyle--many have another home in warmer climate and split time between the two
June Market Watch:
Positives:
1.  The median home price currently in St. Charles has gone from $343,000 (2017) to $362,000 (2018), a 5.5% increase.  The cause for this was that many savvy buyers stepped in when some of the larger luxury homes got to a price that was hard to pass up.  Not a trend, but in this market segment it is more of a case by case basis. 
2.  Town home prices in both St. Charles (a 7.4% increase) and Geneva ( a 7.5% increase) showed a healthy increase in sales price and demand.
Negatives:
1. The Number of homes sold in St. Charles, Batavia, and Geneva year to date are all currently down quite a bit from June 2017
2.  The Number of homes currently under contract in July is also a lot lower than this time last year
 
What We Think:
 
The market has had a nice run up in the last 2-3 years, relativity low rates, and a spark in demand created a stable market.  It's only normal to see some softness in demand and pricing as rates rise, plus the IL economy still continues to create other problems for everyone locally.   So we are cautious for the rest of 2018 and will look at the year-end numbers and reevaluate our opinion of what 2019 may be like.  Inventory levels are low in some segments and demand for the "Hot Trends" mentioned above are still strong.

Posted in Market Trends