Posted by The Kombrink Team on Tuesday, June 11th, 2024 2:17pm.
Welcome to the June 2024 real estate market update for Geneva, Illinois! Whether you're buying or selling, staying informed about the current market conditions can help you make the best decisions. Here’s a detailed look at the latest trends and statistics.
Geneva’s real estate market is dynamic and active. Here are the key statistics you need to know:
The Months Supply of Inventory in Geneva is currently at 1.31 months. This figure suggests a very tight housing market, meaning that at the current sales pace, it would take just over a month to sell all the homes currently available. Low inventory levels often lead to increased competition among buyers.
The List to Sold Price percentage is an impressive 101.4%. This means that, on average, homes are selling for above their asking prices. This statistic indicates a strong seller's market, where demand is high and buyers are willing to pay a premium to secure their desired property.
Homes in Geneva are selling quickly, with a median of just 13 days on the market. This is significantly lower than the national average, highlighting the urgency for buyers to act swiftly when they find a property they love.
The median sold price in Geneva is currently $462,000. This reflects a healthy increase in home values, underscoring the desirability and strength of the local real estate market. For investors, this trend indicates a promising opportunity for appreciation.
For Buyers:
For Sellers:
If you're considering making a move or have any questions about the Geneva real estate market, we're here to help. Reach out to your Geneva IL Real Estate Agents at 630-402-0021 for personalized guidance and expert advice tailored to your needs.
Thanks for reading, and stay tuned for the next market update!