The local housing market in the Tri-Cities and Kane County saw some year-over-year improvements in November that included increases in home sale prices.
According to data from the Illinois Association of Realtors, Kane County was one of 39 counties in Illinois that showed year-over-year median price increases, which were up 16.7 percent to $160,500.
Some year-over-year improvements also hit the Tri-Cities housing market, but not in all areas. While the number of homes sold may have increased, home prices may have decreased, or vice versa.
In Geneva, 22 detached single-family homes were under contract to be sold traditionally in November 2013, up from 21 sold during that time in 2012, according to data from the Mainstreet Organization of Realtors. Traditional home sales mean homes were not real estate-owned or short sales.
Home sales in Geneva that closed in November 2013 were slightly higher than the previous November, going from 22 to 23 homes.
Traditional home sale prices dropped by 6.8 percent from 2012 to 2013 in Geneva, dropping from $321,288 to $299,500. However, median home prices in 2013 were still more than they were in 2011, when the median price was $279,750.
Detached single-family homes that were under contract to be sold in St. Charles increased 41.4 percent from November 2012, a trend that continued from 2011 to 2012, when home sales increased by 61.1 percent. A total of 56 homes were sold in November 2013 in St. Charles, including real estate-owned and short sales. The number of home sales that closed in November 2012 compared to November 2013 stayed flat at 42 homes.
Home sale prices in St. Charles saw marginal increases for detached single-family homes sold traditionally. The median sale price of those types of homes was $292,500 in November 2013, up less than a percentage point from November 2012, when the median price was $292,250. Real estate-owned and short sale home sale prices decreased by 13.5 percent and 23.8 percent, respectively, from November 2012 to November 2013.
Traditional sales of detached single-family homes in Batavia more than doubled from November 2012 to November 2013, and the number of homes under contract to be sold doubled. Six home sales closed in November 2012, while 14 home sales closed in November 2013. Eight homes were under contract to be sold in Batavia in November 2012, while 16 were under contract to be sold in November 2013.
Median home prices for attached single-family homes in Batavia also increased by 25 percent from November 2012 to November 2013, going from $155,000 to $194,200.