Geneva Market Statistics

January 2013

Past 12 Months

In the past 12 months the Geneva market has seen the average sold price increase +3.5% for single family homes to $318,185 and decrease -3.9% for attached homes to $212,090.

In the past 12 months the Geneva market has seen the average DOM decrease -4.5% for single family homes for 155 average DOM and decrease -21.6% for 197 average DOM.

St. Charles Market Statistics

January 2013

Past 12 Months

In the past 12 months the St. Charles market has seen the average list price decline -9.1% for single family homes to $338,932 and decline -3.1% to $209,429 for attached homes.  

In the past 12 months, the St. Charles market has seen the average market time decline -16.2% for single family homes to 178 average days on the market (DOM) and decline -15.1% for attached family homes to 191 average DOM.   

So many people are wondering why banks just don't work with more of the distressed homeowners. This article explains it very well. Pay close attention to #5--it explains why it is more profitable for a bank to foreclose than to do a work-out.

http://realestate.aol.com/blog/2011/10/18/mortgage-prof-why-banks-foreclose-instead-of-settling-for-les/?icid=maing-grid7|hp-laptop|dl4|sec1_lnk3|105578