Is East Galena Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Galena Township is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, East Galena Township has remained a Seller's Market.

Key Takeaway

East Galena Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in East Galena Township, IL

How much do homes in East Galena Township, IL cost?

Median Sold Price

$252,500

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$29,000(+13.0%)

Key Takeaway

Homes in East Galena Township have sold for 13% more than they did a year ago.

Summary: The median home sold price in East Galena Township was $252,500 in November 2024, up 13% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $210K$217K
+3.4%
3 $491.2K$300K
-38.9%
4 $412K$553.1K
+34.3%
5+ $395K$407.5K
+3.2%

Summary: East Galena Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.4%, 3 bedroom homes decreased by 38.9%, 4 bedroom homes increased by 34.3%, and 5+ bedroom homes increased by 3.2%.

Median Sold Price Compared To Nearby Cities

Guilford Township
+28.1%
Galena
+21.6%
East Galena Township
+13.0%

Housing Supply in East Galena Township, IL

How many homes are available in East Galena Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
43-25.0%

Summary: The East Galena Township real estate market had 3 homes for sale in November 2024, a 25.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 00
0.0%
3 11
0.0%
4 00
0.0%
5+ 32
-33.3%

Summary: The East Galena Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Galena Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in East Galena Township in November 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for East Galena Township, IL

How long does it take to sell a home in East Galena Township, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
7 Days23 Days+228.6%

Summary: Homes in East Galena Township had an average of 23 days on market in Nov 2024, up by 228.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 2 homes were sold in East Galena Township; 50% of homes were sold within 30 days, 50% 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 2 Days Ago

Newest Listings in East Galena Township, IL

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