Is Geneva Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Geneva Township is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Geneva Township has remained a Seller's Market.

Key Takeaway

Geneva Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Geneva Township, IL

How much do homes in Geneva Township, IL cost?

Median Sold Price

$467,725

$218/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$17,725(+3.9%)

Key Takeaway

Homes in Geneva Township have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Geneva Township was $467,725 in October 2024, up 3.9% from last year, and the median price per square foot was $218.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $269K$247.5K
-8.0%
2 $290K$347.4K
+19.8%
3 $400K$405K
+1.3%
4 $522.5K$533.5K
+2.1%
5+ $618.5K$656.2K
+6.1%

Summary: Geneva Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8%, 2 bedroom homes increased by 19.8%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 6.1%.

Median Sold Price Compared To Nearby Cities

Batavia Township
+10.2%
Batavia
+8.3%
Saint Charles
+4.8%
Geneva
+4.3%
Geneva Township
+3.9%

Housing Supply in Geneva Township, IL

How many homes are available in Geneva Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
119125+5.0%

Summary: The Geneva Township real estate market had 125 homes for sale in October 2024, a 5.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1615
-6.3%
3 4851
+6.3%
4 4045
+12.5%
5+ 1514
-6.7%

Summary: The Geneva Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 6.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3150+61.3%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Geneva Township, you could pay more than the asking price. 46% of homes here sold above asking price last month.

Summary: A total of 50 homes were sold or pending in Geneva Township in October 2024, up by 61.3% month-over-month. Of the 50 sold homes, 38% were sold under asking, 16% were sold at asking, and 46% were sold over asking.

Days on Market for Geneva Township, IL

How long does it take to sell a home in Geneva Township, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
22 Days15 Days-29.5%

Summary: Homes in Geneva Township had an average of 15 days on market in Oct 2024, down by 29.5% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Geneva Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 50 homes were sold in Geneva Township; 82% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

Newest Listings in Geneva Township, IL

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