Real Estate
Geneva Home Sales Rise 55%, Batavia 37.5%
Geneva's real estate boomed in September as the rest of the Chicago area saw a bump in year-over-year comparisons.
Home sales in the Chicago area during September were at a six-year high, according to a recent RE/MAX report—and the Tri-Cities real estate market reflected that boom.
Geneva and Batavia both saw large gains in September 2012 compared to September 2011, according to the Mainstreet Organization of Realtors (MORe).
The number of homes sold in Geneva increased by 55 percent, the greatest in the Tri-Cities area. The average sales price went up as well, rising 14.1 percent year over year.
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Batavia had a similar boost, with 37.5 percent more homes sold in Sept. 2012 than Sept. 2011, according to MORe. St. Charles saw the most modest increase at 2.3 percent.
Across the Chicago area, the number of homes sold in September rose by 22 percent over Sept. 2011, according to RE/MAX. At 7,396 transactions, it was the busiest September for home sales since 2006.
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“We continue to see good news in the Chicagoland housing market,” said Laura Ortoleva, media spokesperson for the RE/MAX Northern Illinois real estate network. “Sales are up, average days on the market continue to drop and home prices are stabilizing. These are trends everyone likes to see.”
# of homes soldAvg. price Town 2012 2011 % change 2012 2011 % change Batavia 22 16 37.5%
238,977
258,462
-7.5% Geneva 31 20 55%332,067
291,076
14.1% St. Charles 44 43 2.3%317,936
387,359
-17.9%Source: Mainstreet Organization of Realtors
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