What have home prices been doing in Batavia this year?
Median home prices in Batavia IL have risen steadily over the last 12 months. We’re currently seeing a median list price of $339,000. The chart below is a good comparison of median list prices vs. median sales prices in Batavia IL. As you can see, home buyers and sellers have been fairly aligned. This bodes well for the market indicating sellers are pricing their home at what the market will accept.
Are home prices in Batavia IL going up or down?
Home prices in Batavia were up 2.9% in February compared to January. The median sales price right now is $277,500. The great news is that comparing this year-over-year and we see a 6.7% increase! Batavia homes are definitely appreciating and this trend is only expected to continue.
Is Batavia in a buyers or sellers market right now?
If you’ve been on the fence about selling your home, now is a great time! Inventory of homes for sale in Batavia is trending lower at 3.7 months. Anything between 3-6 months could be considered a stable market so we’re right at the low end of that. Inventory below 3 months puts us in a sellers market where prices can rise and market times fall. Over 6 months and a buyers market takes over resulting in lower prices and longer market times.
What types of homes are for sale in Batavia right now?
A lot of Batavia homeowners may be concerned about foreclosures and short sales dragging down the market. Actually, we’ve seen the numbers of bank-owned and distressed properties fall in Batavia. In February, almost 85% of homes for sale were traditional sales. There were 9 foreclosures on the market. Short sales are on the decline also with 12 currently on the market. Home prices in Batavia IL are not being affected by these factors.
How long is it taking to sell a home in Batavia right now?
The median market time for a home in Batavia is at 40 days. This is one of the lowest points in years. It’s also a drop compared to February 2016 when the market time was 46 days. This could indicate a strong buyer pool in the market.
Want a rough idea of your home’s current value?
Fill out the form below to view an online analysis of your Batavia IL home price. While not as accurate as meeting with us in person, it can help you determine if selling your Batavia home makes sense right now.
Looking for something more accurate?
The Kombrink Lobrillo Team at RE/MAX All Pro takes a very analytical approach to pricing your home. Using a process similar to that of an actual home appraiser, our in-depth analysis produces a pricing strategy to get your home sold for top dollar in the least amount of time. Combine that with our top notch marketing strategy and we’ll help you realize your real estate goals before you know it.
Contact our Batavia Listing Specialist, Matt Kombrink, today to arrange for a complimentary home pricing analysis of your home. Matt can be reached at 630-488-3300.