Home Prices, Inventory, Supply & Demand
Overall, the Geneva IL real estate market is looking up. Home prices are rising but still very affordable. Let's take a look at some key market indicators for this "state of the market" post.
- As of 3/13/14, there are 261 detached and attached single family homes for sale in Geneva, Illinois. 33% of those are under contract.
- The average list price of a home for sale in Geneva is $412,456. The minimum price is $124,900 and the highest list price is $1,250,000.
- The bulk of Geneva homes for sale are priced between $250,000 and $350,000.
- 47 homes in Geneva IL have sold so far this year.
- The average sold home in Geneva was on the market for 130 days.
- Homes in Geneva IL this year have sold for an average of $294,891, though there's a pretty big spread. The lowest sales price this year was $102,500 while the highest was $765,000.
Still with me? Here's a little more on the Geneva IL real estate market from a historic perspective.
Housing inventory in Geneva is down 16.4% from February 2013, but up 8% from it's low in December of last year. We're currently have a 3.8 month supply of housing. Now this puts us in a sellers market. This means prices will most likely continue to increase as competition remains low and demand stays high. Housing supply in Geneva fell to it's lowest in November of last year and has remained low. So if you're thinking of selling, now's the time!
Find out what's happening in Genevawith free, real-time updates from Patch.
The average list price of a home in Geneva has risen 7.1% since February 2013. List prices are up 33% from their December, 2012 low.
Sales prices are up as well, 11% over February of last year. Geneva IL home sales prices hit their low in January of 2011 and have recovered 28% since then.
Find out what's happening in Genevawith free, real-time updates from Patch.
Now keep in mind, the figures in this post represent the city of Geneva as a whole. Specific neighborhoods, subdivisions and niche markets may not follow these trends which is why you should always consult a professional Realtor®.
Are you thinking of buying or selling a home in Geneva, Illinois? Contact The Kombrink Lobrillo Team at RE/MAX Great American North today at 630-488-3300. We love to answer questions about our local market, and we live to help you fulfill your real estate dreams!
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