Here are the updated sales numbers thru August 2019
As shown the number of homes sold are down across the board:
Negatives:
Batavia is down 8.6%---with 243 homes sold in 2018 and currently 222 sold
Geneva is down 7.8%---with 333 homes sold in 2018 and currently 308 sold
St. Charles is down 4.6%.---with 610 homes sold in 2018 and currently 582 sold
July and August were seasonally very slow compared to past years, which was a little concerning given the low interest rates. We have seen a decent bounce upward in activity in September.
Positives:
Median prices are slightly up across the board:
The average price in Batavia went up 5%, with a median price of $325,500.
The average price in Geneva went up 2.2%, with a median price of $366,000.
The average price in St. Charles went up 5.8%, with a median price of $381,000.
Price strength is always a good thing, but pricing remains a case by case basis. Location, certain price points, and homes with a lot of modern updates have much more demand.
After a few years of heavy demand, townhome sales have declined in 2019.
Number of townhomes sold in Batavia is exactly the same as it was in 2018---42 sold.
Geneva is down 19.5%, from 87 sold in 2018 to 70 sold in 2019.
St. Charles is down 19.3%, from 140 sold in 2018 to 113 sold in 2019.
Pricing has stayed stable and demand definitely picked up in September. We still see strong demand for townhomes under $300,000 going into 2020.