Politics & Government

Modest Bump in St. Charles Home Sales, Steep Drop in Prices

Chicago area hits six-year high; Geneva's real estate boomed in September compared to a year ago.

Home sales in the Chicago area during September were at a six-year high, according to a recent RE/MAX report — and the Tri-Cities real estate market reflected that boom.

St. Charles saw a just a modest gain, but Geneva and Batavia both saw large gains in September 2012 compared to September 2011, according to the Mainstreet Organization of Realtors (MORe).

St. Charles saw 43 homes sold at an average price of  $387,359 in 2011. The number of homes sold in 2012 rose to just 44, a 2.3 percent bump, but the average price dropped 17.9 percent to $317,936 in 2012.

Find out what's happening in St. Charleswith free, real-time updates from Patch.

The number of homes sold in Geneva increased 55 percent, the greatest in the Tri-Cities area. The average sales price went up as well, rising 14.1 percent year over year.

Batavia had a similar boost, with 37.5 percent more homes sold in September 2012 than September 2011, according to MORe.

Find out what's happening in St. Charleswith free, real-time updates from Patch.

Across the Chicago area, the number of homes sold in September rose by 22 percent over September 2011, according to RE/MAX. At 7,396 transactions, it was the busiest September for home sales since 2006. 

“We continue to see good news in the Chicagoland housing market,” said Laura Ortoleva, media spokeswoman for the RE/MAX Northern Illinois real estate network. “Sales are up, average days on the market continue to drop and home prices are stabilizing. These are trends everyone likes to see.”

 

Number of
homes sold

 

 

Average
price

 

 

Town

2012

2011

% change

2012

2011

% change

Batavia

22

16

37.5%

238,977

258,462

-7.5%

Geneva

31

20

55%

332,067

291,076

14.1%

St. Charles

44

43

2.3%

317,936

387,359

-17.9%

Source: Mainstreet Organization of Realtors


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