Is Geneva, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$455,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Geneva was $455,000 in May 2024, up 9.7% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $263.2K | $168.7K | -35.9% |
2 Bedrooms | $282.5K | $333K | +17.9% |
3 Bedrooms | $366.2K | $405.5K | +10.7% |
4 Bedrooms | $522.5K | $525K | 0.5% |
5+ Bedrooms | $612.5K | $614K | 0.2% |
Summary: Geneva housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.9%, 2 bedroom homes increased by 17.9%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 0.2%.
Median Sold Price Compared To Nearby Cities
Geneva Township | $414.4K | $455K | +9.8% |
Geneva | $414.9K | $455K | +9.7% |
Batavia | $380K | $408.8K | +7.6% |
Saint Charles Township | $415K | $441K | +6.3% |
Saint Charles | $377.1K | $393.6K | +4.4% |
Housing Supply in Geneva, IL
How many homes are available in Geneva, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
102 | 137 | +34.3% |
Summary: The Geneva real estate market had 137 homes for sale in May 2024, a 34.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 18 | 23 | +27.8% |
3 Bedrooms | 43 | 47 | +9.3% |
4 Bedrooms | 31 | 49 | +58.1% |
5+ Bedrooms | 10 | 18 | +80.0% |
Summary: The Geneva housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.8%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 58.1%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 42 | +27.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in Geneva in May 2024, up by 27.3% month-over-month. Of the 42 sold homes, 26% were sold under asking, 21% were sold at asking, and 52% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
10 Days | 13 Days | +38.8% |
Summary: Homes in Geneva had an average of 13 days on market in May 2024, up by 38.8% compared to last year.
Breakdown of Home Sale Times
38 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 42 homes were sold in Geneva; 90% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.