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Home Sales Drop in Geneva, St. Charles

The number of single-family homes sold in May 2014 in Geneva dropped  6.7 percent compared to a year earlier, according to statistics released by the Mainstreet Organization of REALTORS (MORe). 

In total, 42 homes were sold in May 2014 compared to 45 homes sold in May 2013. The median home sales price dropped in Geneva by 9.1 percent to $309,000 in May 2014. The median home sales price was $340,000 in May 2013. 

Meanwhile, in St. Charles, the number of home sales dropped 20.7 percent with  65 homes sold in May 2014 compared to 82 homes sold in May 2013, according to MORe statistics. 

The median home sales price in St. Charles increased by 7.2 percent to $342,500 in May 2014. The median home sales was $319,500 in May 2013.  

Throughout the suburbs, prices of single-family, detached homes increased 12.1 percent in May 2014 compared with the same period a year ago, according to statistics released by the Mainstreet Organization of REALTORS (MORe). 

The number of homes under contract also grew last month by 6.3 percent.

MORe’s region – which includes about 200 communities in DuPage, Lake and suburban Cook counties – experienced notable gains last month, as reflected in information provided by Midwest Real Estate Data, LLC.

“Overall we are seeing many positive indicators for the suburban housing market: good prices, multiple offers and inventory levels that have begun to stabilize in some areas,” Parent said. “Sellers have begun to get the message and put their signs up. And, with interest rates still hovering below five percent, if you’re a buyer it’s time to get out there and act.”

In a year-to-year comparison of sales of single-family detached homes, several suburban communities saw increased sales activity, including: Antioch (91 percent increase from May 2013), Fox Lake (138 percent), Schiller Park (100 percent), Winfield (80 percent) and Willow Springs (133 percent).

Lou B. June 24, 2014 at 02:41 PM
Jeff, apparently you didn't get the message from School Board member "Bill" who thinks that higher taxes to pay school salaries of 250,000 + benefits a year are just hunky dory because high taxes immediately translate into great ACT scores which then drives up our home values and demand. Bill's not alone, almost all members of the Tax and Spend Geneva School Board are on board with this Pro Union - Tax and Spend mantra.
Ellabulldog June 25, 2014 at 07:11 AM
Jeff, are the older citizens too lazy to vote no? Or to vote out these board members?
Jeff walsma June 25, 2014 at 07:50 PM
LOL i think its the houseing is booming , for people to get out of dodge lol seems like i just went by a few more up for sale.Again i have asked this of people and this is what i gotOVER 60, cant retire here its to exspensive , under 60 its a wait and see until kids get out of school and lets dump the money tax pit .I am just saying.
dpalz July 16, 2014 at 06:14 PM
If you can't afford to live in Geneva, you shouldn't live in Geneva. What's the problem?
Jon Azavedo July 17, 2014 at 02:29 PM
Wow, that last comment is pretty idiotic. I bet well over the majority of homeowners in Geneva can't "afford" it, but are trapped by the high property taxes and can't get out. Ever drive through Eagle Brook? Lots of those homes look like repairs have been put off, as well as landscaping and general maintenance. Why do you think there are two group homes on Fargo Blvd? Because the former owners could "afford" it?

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