Dear Lizzy,

Here are some updated Geneva statistics for 2009 through Aug. 31, 2009.

For Attached Single Family Homes (Townhomes / Condos):
2009 2008
# of Homes Sold 29 (8 months) 66 (12 months)
Average Sale Price $252,341 $229,050
Sale Price % of Final List Price 94.5% 96.0%
Sale Price % of Original List Price 89.8% 92.7%
Average Market Time 207 days 144 days

Attached homes in Geneva are one of the few areas that have seen an increase in the average sale price over last year. Through August, it is up 10.2% to $252,341. However, the average market time is also up by 43.7% to 207 days. The other good news for Geneva is that the inventory level has been decreasing over the past several months. It is now at 26 months of inventory based on a 6 month moving average of the number of homes sold. This is still a strong buyer's market which is indicated by 9 or more months of inventory.

For Detached Single Family Homes:
2009 2008
# of Homes Sold 162 (8 months) 261 (12 months)
Average Sale Price $346,309 $382,924
Sale Price % of Final List Price 94.5% 94.9%
Sale Price % of Original List Price 90.0% 90.7%
Average Market Time 201 days 160 days

Detached homes in Geneva have seen the average sale price decrease by 9.6% to $346,309 over last year. The average market time is also up by 25.8% to 201 days. Again there is good news for the inventory level, it has been decreasing over the past several months and is now at 11 months of inventory based on a 6 month moving average of the number of homes sold. This is getting close to a neutral market which is indicated by 6 to 8 months of inventory.

Data Source: MLS

Have a great day! Vince

Here are some quick Geneva stats...
For all of 60134, detached single family homes, there have been 23 solds with an average marketing time of 131 days. These are stats since 03/22/2008 through today (04/23/2008). The sale to list price ratio is 94%. Interestingly, since the first of the year it is also 94% with 59 homes sold. Keep in mind, though, that this accounts for the list price as of the closing date and does not account for the price adjustments that may have occurred since the property initially came on the market. Just becasue someone asks a certain price for a home does not mean they will get 94% of that asking price.

Feel free to contact me if you would like more detailed information about the Geneva market. I can find information applicable to a specific subdivision or number of bedrooms, or geographic area, etc

Cindy Strahota
Keller Williams Fox Valley Realty
630-624-9246