Inventory in Geneva is expanding modestly in this rolling three-month view, with active listings up more than 20% year over year and sitting at 16 homes. New listings have also surged compared with a year ago, rising by over 50%, which gives buyers more options than they had last summer. Even with this added supply, pending sales are still higher than a year ago, signaling that demand remains solid and homes are continuing to move into contract.
Homes are trading hands, though not at the pace seen in some earlier periods, with closed sales slightly below last year’s level. The flow of new and pending contracts, combined with current inventory, has pushed months of supply up sharply year over year to about three and a half months, yet conditions still lean toward sellers according to the local market gauge.
Pricing has been recalibrating as this balance shifts. The typical home value over the past three months is up roughly 26% from a year ago, even as it has moved down from the unusually high levels seen earlier this year. Sellers are facing more negotiation, with the average sale-to-list ratio around 95% and no recent sales closing above list price. At the same time, homes that do sell are moving much faster than a year ago, with the median days on market dropping to about 10 days, so both buyers and sellers can benefit from an Agent Pronto–recommended agent to navigate these changing conditions.
