Is Genoa, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Genoa was a Seller's Market.
Housing Prices in Genoa, IL
How much do homes in Genoa, IL cost?
Median Sold Price
$247,500
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Genoa was $247,500 in May 2024, up 9.3% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $164.5K | - | N/A |
2 Bedrooms | $186K | $346.7K | +86.4% |
3 Bedrooms | $235K | $242.5K | +3.2% |
4 Bedrooms | $210K | $255K | +21.4% |
5+ Bedrooms | $161.7K | $286K | +76.8% |
Summary: Genoa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 86.4%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 76.8%.
Median Sold Price Compared To Nearby Cities
Kingston Township | $277.9K | $310K | +11.6% |
Genoa Township | $228K | $252.5K | +10.7% |
Genoa | $226.5K | $247.5K | +9.3% |
Housing Supply in Genoa, IL
How many homes are available in Genoa, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 30 | +50.0% |
Summary: The Genoa real estate market had 30 homes for sale in May 2024, a 50.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 7 | 9 | +28.6% |
3 Bedrooms | 11 | 17 | +54.5% |
4 Bedrooms | 2 | 4 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Genoa housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 54.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
0 | 5 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Genoa in May 2024, up by 100.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Genoa, IL
How long does it take to sell a home in Genoa, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 6 Days | -74.2% |
Summary: Homes in Genoa had an average of 6 days on market in May 2024, down by 74.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Genoa; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.