Tri-Cities housing market stagnates in February
There was little growth in Tri-Cities housing market sales in February compared to the same time last year, according to the latest data released by the Mainstreet Organization of Realtors.
There were 28 St. Charles detached single-family homes sold traditionally in February, just one more than the number sold in February 2013, according to the organization’s data.
The number of traditional homes under contract to be sold decreased in St. Charles from 48 in February 2013 to 29 one year later, the data showed. Batavia also posted a decrease from 21 to 15 homes under contract during the same period. The number of closed sales for detached Batavia homes slipped from 11 in February 2013 to nine this year.
Geneva had a slight increase in traditional home sales under contract but a decrease in closed sales. There were 26 detached single-family homes under contract in February, up one sale from February 2013, according to the data. Closed sales dropped from 16 homes in 2013 to 9 one year later.
The number of closed February short sales has not changed dramatically in recent years.
In February 2012, there were seven short sales for all three cities. That number decreased to six 12 months later and went back up to eight in February 2014.
There was some modest growth in the Tri-Cities for traditional median sale prices for detached homes. St. Charles prices were up this year to $314,000 from $290,000 last year.
Geneva’s median sales prices for the same kind of homes also was up to $335,000 from $322,500, the data said. Batavia’s median home sale prices posted the smallest increase to $321,000 from $310,000.
Prices of single-family, detached homes in the suburbs overall increased 11.6 percent in February 2014 compared with the same period a year ago, according to the organization’s statistics.