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Tri-Cities housing market shows overall growth

Published: Tuesday, Aug. 26, 2014 10:42 p.m. CDT • Updated: Wednesday, Aug. 27, 2014 8:24 a.m. CDT

Sales of traditional properties were up in Batavia, Geneva and St. Charles in July, while sales of distressed properties decreased, according to the latest data released by the Mainstreet Organization of Realtors.

There were 733 traditional homes sold in July in St. Charles, a 14 percent increase compared to July 2013. Geneva posted a 11.6 percent increase, and Batavia posted a 4.4 percent increase over the same period.

Geneva had the largest decline of short sales in July with 33 homes sold, down 21.4 percent from the 42 homes sold during the same month last year.

St. Charles had a 12.5 percent decrease in short sales and Batavia had a 9.1 percent decrease compared to July 2013.

Median sale prices went up in Batavia and Geneva in July compared to one year ago.

Batavia’s median sale price went up to $268,500, a 3.5 percent increase from last year, and Geneva’s reached $318,000, a 1.1 percent increase compared to July 2013.

St. Charles posted a decline in its median sales price for traditional homes. In July the median price was $292,691, a decrease of 3.2 percent from the same period last year.

Prices of single-family, detached homes across the Chicago suburbs increased 5.7 percent in July 2014 compared with the same period a year ago, according to the organization’s statistics.

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