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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Galesburg Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Galesburg Township, IL

How much do homes in Galesburg Township, IL cost?

Median Sold Price

$98,188

$76/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$1,811(-1.8%)

Key Takeaway

Homes in Galesburg Township have sold for 1.8% less than they did a year ago.

Summary: The median home sold price in Galesburg Township was $98,188 in November 2024, down 1.8% from last year, and the median price per square foot was $76.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $34K$37K
+8.8%
2 $81K$72K
-11.1%
3 $106.7K$110K
+3.0%
4 $140K$171.5K
+22.5%
5+ $165K$183.5K
+11.2%

Summary: Galesburg Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes increased by 11.2%.

Median Sold Price Compared To Nearby Cities

Galesburg City Township
-0.6%
Galesburg
-0.6%
Galesburg Township
-1.8%

Housing Supply in Galesburg Township, IL

How many homes are available in Galesburg Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
129116-10.1%

Summary: The Galesburg Township real estate market had 116 homes for sale in November 2024, a 10.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 30
-100.0%
2 3532
-8.6%
3 6862
-8.8%
4 2018
-10.0%
5+ 34
+33.3%

Summary: The Galesburg Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes decreased by 8.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3323-30.3%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Galesburg Township, you may be able to get a good deal. 52.2% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Galesburg Township in November 2024, down by 30.3% month-over-month. Of the 23 sold homes, 52% were sold under asking, 35% were sold at asking, and 13% were sold over asking.

Days on Market for Galesburg Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
29 Days35 Days+20.3%

Summary: Homes in Galesburg Township had an average of 35 days on market in Nov 2024, up by 20.3% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 23 homes were sold in Galesburg Township; 61% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 13% 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 22 Days Ago

Newest Listings in Galesburg Township, IL

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