January Home Sales: Still A Slump in Batavia

The 11 detached, single-family homes sold in Batavia during January represented a 15.4 percent drop over January 2012, when 13 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

The number of sales continues a downward trend for the Batavia housing market, which saw 14 homes sold during December 2012—a 46.2 percent drop from 2011.

The median price of homes sold in January was also down, falling 43.5 percent to $129,000 from $228,500 in January 2012. 

The market for detached, single-family homes grew in January elsewhere in the Tri-Cities, MORe reported. MORe gets its statistics from Midwest Real Estate Data.

Geneva saw the largest percent increase, with 76.9 percent more homes sold year over year in January. There were 23 homes sold that month in 2013 and 13 in 2012. 

St. Charles experienced 31 percent growth, which shakes out to 38 homes sold in January 2013 compared to 29 sold during January 2012. 

Overall across the Chicago suburbs, sales of single-family detached homes rose 37.5 percent in January over the same month in 2012, according to MORe. 

MORe predicts February will be another month of local housing market growth, as the number of detached homes under contract in January 2013 was 60 percent higher than in January 2012. 

“I am encouraged to see yet another month of double-digit growth in sales volume in January,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “The opportunity available in today’s marketplace is almost unprecedented. Fasten your seatbelts because this promises to be an outstanding year for the Chicago area housing market.”

Number of homes sold

Median price

Town January 2013 January 2012 Percent change January 2013 January 2012 Percent change Batavia 11 13 -15.4%

129,000

228,500

-43.5% Geneva 23 13 76.9%

299,990

311,000

-3.5% St. Charles 38 29 31%

251,246

320,000

-21.5%

Source: Mainstreet Organization of Realtors