Median sale prices continue to drop year-over-year, but at least one expert is predicting that sales volume will continue to rise dramatically in 2013.
By Lauren Williamson Geneva leads the league among the Tri-Cities in the January real estate report compiled by the Mainstreet Organization of Realtors. Geneva not only saw the largest percent increase, with 76.9 percent more homes sold year over year in January, but homes held their value better than those sold in neighbors Batavia and St. Charles. It's hard to say for sure from the stats provided, but those numbers hint strongly that Geneva saw fewer foreclosures in January 2013. Twenty-three homes were sold in Geneva in January 2013 compared to 13 in January 2012. The median price dropped, but only by a little more than $11,000 per home—about a 3.5 percent difference. Compare that to Batavia, where the median sale price of detached, …
While the price of homes sold in Batavia and St. Charles went up for the month of October, Geneva's median sale price dropped almost 24 percent from a year ago.
- REAL ESTATE
Monday, November 19, 2012
Home prices for Geneva took a dive year over year for the month of October, a sobering statistic especially when you consider the median prices went up in Batavia and St. Charles during the same time period. Overall, the market for detached, single-family homes in the Tri-Cities area saw growth in October, according to the Mainstreet Organization of Realtors (MORe). MORe gets its statistics from Midwest Real Estate Data. St. Charles experienced the most dramatic percent change in the number of homes sold, with an uptick of 38.5 percent in October 2012 over October 2011. The number of actual homes sold this October was 54, compared to the 39 sold during the same period last year. Across the Chicago suburbs, sales of single-family detached …