Is Geneva, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Geneva has remained a Seller's Market.
Housing Prices in Geneva, IL
How much do homes in Geneva, IL cost?
Median Sold Price
$450,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Geneva was $450,000 in March 2024, up 11.1% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $257.5K | $247.5K | -3.9% |
2 Bedrooms | $278K | $330K | +18.7% |
3 Bedrooms | $355.5K | $402.5K | +13.2% |
4 Bedrooms | $505K | $517.9K | +2.6% |
5+ Bedrooms | $610K | $630K | +3.3% |
Summary: Geneva housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.9%, 2 bedroom homes increased by 18.7%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Cities
Geneva | $405K | $450K | +11.1% |
Geneva Township | $408.3K | $450K | +10.2% |
Batavia | $375K | $400K | +6.7% |
Saint Charles Township | $417K | $437K | +4.8% |
Saint Charles | $372.7K | $389.9K | +4.6% |
Housing Supply in Geneva, IL
How many homes are available in Geneva, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
76 | 86 | +13.2% |
Summary: The Geneva real estate market had 86 homes for sale in March 2024, a 13.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 12 | +9.1% |
3 Bedrooms | 34 | 32 | -5.9% |
4 Bedrooms | 23 | 29 | +26.1% |
5+ Bedrooms | 8 | 13 | +62.5% |
Summary: The Geneva housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes increased by 62.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 30 | +114.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Geneva in March 2024, up by 114.3% month-over-month. Of the 30 sold homes, 47% were sold under asking, 13% were sold at asking, and 40% were sold over asking.
Days on Market for Geneva, IL
How long does it take to sell a home in Geneva, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
19 Days | 24 Days | +25.9% |
Summary: Homes in Geneva had an average of 24 days on market in Mar 2024, up by 25.9% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in Geneva; 77% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.