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Vince Coniglione
"Your Source for Living Green in the Fox Valley"
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I am a real estate professional. I invest in real estate and am a real estate consultant at Keller Williams to home buyers and sellers. What I love to
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Vince Coniglione answered:
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 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
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