Neighbor News
These Batavia Subdivisions Have Too Many Homebuyers
The winter months did NOT slow down homebuyers in Batavia, IL! Sales have been brisk and now certain subdivisions are running out of homes.
Not Enough Homes For Sale in These Batavia Neighborhoods
The winter months did NOT slow down homebuyers in Batavia, IL! Sales have been brisk and now certain subdivisions are running out of inventory. Home sellers in Batavia need to get their home on the market now to take advantage!Typically, the real estate market sees a definite slow down during late-fall through winter.
Fewer homebuyers are out and knowing this, sellers tend not to enter the market during this time. This has NOT been the case this season.
Batavia boasts 7 subdivisions experiencing a pronounced seller's market!
Find out what's happening in Bataviafor free with the latest updates from Patch.
To determine what type of real estate market a neighborhood is in, we look at the number of closings over a period of time. We then compare that with how many homes are for sale. What we end up with is the current supply for that subdivision. It's all about supply and demand here.
A normal real estate market is one where there is 5-6 months of housing inventory. Anything less and you experience a sellers market where homes sell faster and for more money. Inventory of greater than 6 months and you're in a buyers market where buyers can dictate a lower price and homes generally take longer to sell.
Find out what's happening in Bataviafor free with the latest updates from Patch.
So if you've been considering a move, you want to time it right so you sell when it's most advantageous to do so. If you live in one of these Batavia neighborhoods, NOW is the time.
- Wild Meadows has a 4 month supply with only 2 homes for sale.
- Woodland Hills, while having 3 homes for sale, is only at a 2.4 month supply. This is a hot area!
- Cherry Park also has only a 2 month supply of housing.
- Fox Trail, Mill Creek and Deerpath Crossing all have just over 1 month of inventory.
- And if you live in Braeburn...there is currently NO supply but there are buyers looking!
Wondering what someone would pay for your home in these neighborhoods? Get a no-obligation instant home value analysis.
The Kombrink Lobrillo Team at RE/MAX Great American North has the experience and local knowledge to help you take advantage of market conditions in your area. Give us a call today at (630) 488-3300 to see how we can help.
