Batavia, IL Market Snapshot

Batavia, IL

Single Family Homes Sales, Prices and Inventory

Each data point is 12 months of activity.

Number of Home Sales

Despite high buyer demand, the total number of single family homes sold in Batavia over the past year has slightly decreased. Because of constrained inventory many homes sold in multiple offer situations. The sale of homes in Batavia priced below $300,000 has been brisk in recent years, while homes in the middle price category of $300,000 to $500,000 have sold quite well. While the number of sales of higher-priced homes appears to be relatively steady, total sales have significantly lagged those of lower-priced homes.

Average Sales Price

In Batavia, average home sale prices increased by just over 1% in the past year, the same increase in the 2017 to 2018 timeframe. Prices dropped an average of 3.5% for homes priced under $300,000. This should encourage Millenial and first-time homebuyers who have been closed out of the market. Sellers should be realistic and rely on local market data to price their homes for sale rather than looking at national reports that show a higher rate of price increases.

Average Market Time

Market time is the number of days that a house was on the market when it went under contract. Of the homes that sold over the past year, homes priced below $300,000 went under contract in just under 60 days, while homes priced $300,000 to $500,000 went under contract in about 80 days. Sellers of higher-priced homes need to thoughtfully prepare their homes for sale and price well to avoid long market times. But even within the higher price categories, a well-priced home in great condition can sell in a matter of days after being listed.

Average Months Supply

For the past several years Batavia has been a seller's market for all but the most expensive homes.

Under 4 months of supply indicates a seller's market with more active buyers than there are homes for sale, so sellers have the upper hand in pricing and negotiating. More than 7 months of supply shows a buyer's market with more homes for sale than active buyers, so buyers can expect to negotiate for more favorable deals. A balanced market with 4 to 6 months of inventory generally has steady sales and prices.