Is Galena, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Galena has remained a Seller's Market.
Key Takeaway
Galena is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Galena, OH
How much do homes in Galena, OH cost?
Median Sold Price
$624,459
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Galena have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Galena was $624,459 in May 2024, up 8.6% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $235K | N/A |
| 2 Bedrooms | $394.9K | $449.9K | +13.9% |
| 3 Bedrooms | $486K | $497.2K | +2.3% |
| 4 Bedrooms | $601.1K | $660K | +9.8% |
| 5+ Bedrooms | $625K | $735K | +17.6% |
Summary: Galena 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 13.9%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 17.6%.
Median Sold Price Compared To Nearby Cities
| Sunbury Village Township | $401.1K | $445K | +10.9% |
| Galena | $574.8K | $624.4K | +8.6% |
| Sunbury | $440.6K | $477.4K | +8.3% |
| Berkshire Township | $510.9K | $530K | +3.7% |
Housing Supply in Galena, OH
How many homes are available in Galena, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 63 | +43.2% |
Summary: The Galena real estate market had 63 homes for sale in May 2024, a 43.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 11 | 18 | +63.6% |
| 4 Bedrooms | 22 | 31 | +40.9% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Galena 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 150%, 3 bedroom homes increased by 63.6%, 4 bedroom homes increased by 40.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 18 | +20.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Galena, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Galena in May 2024, up by 20.0% month-over-month. Of the 18 sold homes, 28% were sold under asking, 28% were sold at asking, and 44% were sold over asking.
Days on Market for Galena, OH
How long does it take to sell a home in Galena, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 25 Days | -12.7% |
Summary: Homes in Galena had an average of 25 days on market in May 2024, down by 12.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Galena are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Galena; 72% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.