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 October 2023

At the same time last year, Genoa was a Buyer'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

$270,000

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,000(+5.9%)

Key Takeaway

Homes in Genoa have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in Genoa was $270,000 in October 2024, up 5.9% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $164.5K-
N/A
2 $354.7K$269K
-24.2%
3 $242.5K$259.9K
+7.2%
4 $300K$345K
+15.0%
5+ $245K$378K
+54.3%

Summary: Genoa housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 24.2%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 54.3%.

Median Sold Price Compared To Nearby Cities

Genoa Township
+10.0%
Genoa
+5.9%
Kingston Township
-1.0%

Housing Supply in Genoa, IL

How many homes are available in Genoa, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4146+12.2%

Summary: The Genoa real estate market had 46 homes for sale in October 2024, a 12.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 88
0.0%
3 2527
+8.0%
4 69
+50.0%
5+ 22
0.0%

Summary: The Genoa 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 8%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
147-50.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Genoa, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Genoa in October 2024, down by 50.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% 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

Oct 2023Oct 2024CHANGE
19 Days21 Days+13.5%

Summary: Homes in Genoa had an average of 21 days on market in Oct 2024, up by 13.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 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 October 2024, 7 homes were sold in Genoa; 57% of homes were sold within 30 days, 43% 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 16 Days Ago

Newest Listings in Genoa, IL

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