Geneva Homes Selling For Higher Prices Than a Year Ago

The 26 single, detached homes sold in Geneva during October 2013 represented a 0 percent increase from the 26 homes sold in October 2012, according to the Mainstreet Organization of Realtors (MORe).

But the median sales price for those 26 homes was 14.6 percent higher than it was a year ago.

The median home sales price in Geneva during October increased to $272,500, up from $237,500 in October 2012.

Among the 59 Patch communities surveyed, the number of homes sold increased 12.4 percent, higher than the 9.6 percent increase seen across the estimated 200 Chicago suburbs MORe tracks. The median sales price across all suburbs rose by about 19 percent, while the price increased 11.6 percent in Patch communities.

“We expect to continue to see strong growth in the housing market in the final months of 2013 and into next year, especially in regard to home prices,” MORe President Michael Parent said in a news release. “However, it’s important to remember that every town is recovering at its own pace. In some communities the engine is just starting back up. In others, it’s already in first or second gear. Either way, we’re seeing progress and some good underlying positives.”

Top Performers

• Largest percentage increase in homes sold: Palos Heights (200 percent)

• Largest percentage increase in median sales price: River Forest (81.6 percent)