As the year wound down, sales picked up a touch in November. Home sales in St. Charles and Geneva were all up from this time last year. We attribute this to buyers wanting to be in a new home for Christmas or right after. Rising rates and soft pricing also created some really good deals!!!
Even with a positive November, the number of homes sold in Geneva and Batavia were both down 10%, compared to this time in 2017. The number of homes sold in Geneva was 470 in 2017 compared to 419 in 2018. Homes sold in Batavia were 354 in 2017 compared to 318 in 2018. The St. Charles market has seen a 1% increase in the number of homes sold--780 in 2017 compared to 788 in 2018.
Data confirms our general thesis that there is a shortage of town homes under $300,000 in St. Charles, Geneva, and Batavia. So the number of sold units is down, but prices are up.
With that being said, if the stock market gets worse and rates keep rising, nothing is immune to price swings. We will see the end of the year numbers very soon!
Happy Holidays From The Purcell Group!!!