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 Last Month

Since last month, 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

$87,000

$73/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$37,500(-30.1%)

Key Takeaway

Homes in Galesburg Township have sold for 30.1% less than they did a month ago.

Summary: The median home sold price in Galesburg Township was $87,000 in October 2024, down 30.1% from last month, and the median price per square foot was $73.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 -$23.9K
N/A
2 $70K$69.9K
-0.1%
3 $110K$116K
+5.5%
4 $197.4K$174.9K
-11.4%
5+ $306K-
N/A

Summary: Galesburg Township housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 11.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Galesburg Township
-30.1%
Henderson Township
-67.1%

Housing Supply in Galesburg Township, IL

How many homes are available in Galesburg Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
130139+6.9%

Summary: The Galesburg Township real estate market had 139 homes for sale in October 2024, a 6.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 33
0.0%
2 3636
0.0%
3 6372
+14.3%
4 2021
+5.0%
5+ 87
-12.5%

Summary: The Galesburg Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3133+6.5%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

6 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. 57.6% of homes here sold below asking price last month.

Summary: A total of 33 homes were sold or pending in Galesburg Township in October 2024, up by 6.5% month-over-month. Of the 33 sold homes, 58% were sold under asking, 24% were sold at asking, and 18% 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

Sep 2024Oct 2024CHANGE
34 Days34 Days-0.4%

Summary: Homes in Galesburg Township had an average of 34 days on market in Oct 2024, down by 0.4% compared to last month.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

4 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 October 2024, 33 homes were sold in Galesburg Township; 61% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 12% 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

Nearby Markets to Galesburg Township, IL

What housing markets are near Galesburg Township, IL?