More Good News! Market increases for Geneva, IL!

The graph above shows the annualized mean sales price by quarter for detached housing in the Village of Geneva, IL. It shows a downward trend after the market peaked in mid-2007.

According to a current apprasial I am working on, in the 12 month period between 3/1/2009 and 2/28/2010, the average sales price in all of Geneva is $356,244.
 
As you can see, at the end of the year, for the period between 1/1/2009 and 12/31/2009, the mean sales price was $353,591.  This represents a 0.75% increase from the average sale price on 12/31/2009.
 
This positive increase noted in Geneva suggests our market may have bottomed out and is seeing a reversal.  Let's all hope it continues, not only for Geneva, but everywhere!.