I had a good friend of mine ask me at a soccer game what types of single-family homes seemed to be selling in the Tri-Cities. I thought it seemed like a very common question to address in a post.
Let me answer in two ways, first by community and then by type and price of home.
Over the past 12 months, there have been 509 sold homes in the St. Charles/Campton Hills area, while Batavia had 221 homes sell. There were 258 home sales in Geneva. Each market had approximately a one year inventory of homes sold at the current rate homes are selling.
The nearby graph denotes the distribution of sales of homes by bedroom. Ours is a market dominated by three- and four-bedroom homes.
Zeroing in on the four-bedroom sales is instructive. Four-bedroom homes in St. Charles/Campton Hills that sold were originally listed for an average of $451,528 and ultimately sold for an average of $399,700 or 89 percent of the original list price. The same four-bedroom home in Batavia was originally listed for $380,900 on average and sold for an average of $335,700 or 88 percent to original list price. Four-bedrooms in Geneva averaged a starting list price of $387,299 and sold for $352,000, 91 percent of the original list price. It’s important to note these are the homes that SOLD. Those that didn’t were priced higher.
Again, this data is a snapshot over the course of the last 12 months. When looking again, just at four-bedroom homes that sold over the past 3 months, the average sold price increased in St. Charles by $34,000 (to $434K) and decreased another $18,000 (to $317K) and $29,000 (to $323K) in Batavia and Geneva respectively.
The old saw in real estate is that it’s location, location, location. Your neighborhood is probably performing differently than this aggregate snapshot. Feel free to contact me or another Realtor to better understand the current value of your home.
This representation is based in whole or in part on data supplied by Midwest Real Estate Data LLC for the period November 2010 through October 2011. Midwest Real Estate Data LLC does not guarantee nor is it in any was responsible for its accuracy. Data maintained by Midwest Real Estate Data LLC may not reflect all real estate activity in the market.