Is Genoa, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Genoa is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Genoa was a Seller's Market.

Key Takeaway

Genoa is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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

+$21,000(+9.3%)

Key Takeaway

Homes in Genoa have sold for 9.3% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $164.5K-
N/A
2 $186K$346.7K
+86.4%
3 $235K$242.5K
+3.2%
4 $210K$255K
+21.4%
5+ $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
+11.6%
Genoa Township
+10.7%
Genoa
+9.3%

Housing Supply in Genoa, IL

How many homes are available in Genoa, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2030+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

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 79
+28.6%
3 1117
+54.5%
4 24
+100.0%
5+ 00
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 2024May 2024CHANGE
05+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Genoa, you could pay more than the asking price. 80% of homes here sold above asking price last month.

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 2023May 2024CHANGE
26 Days6 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Genoa are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Genoa, IL

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