Is Galena, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Galena was a Buyer's Market.
Housing Prices in Galena, IL
How much do homes in Galena, IL cost?
Median Sold Price
$260,000
$158/sqft
Based on all homes sold in February 2024.
Difference Since Last Month
Summary: The median home sold price in Galena was $260,000 in February 2024, down 8.1% from last month, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | $175K | N/A |
3 Bedrooms | $283K | $440K | +55.5% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Galena housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 55.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Galena | $283K | $260K | -8.1% |
West Galena Township | $283K | $175K | -38.2% |
Housing Supply in Galena, IL
How many homes are available in Galena, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
10 | 12 | +20.0% |
Summary: The Galena real estate market had 12 homes for sale in February 2024, a 20.0% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 7 | +75.0% |
3 Bedrooms | 3 | 2 | -33.3% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Galena housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 75%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Galena in February 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Galena, IL
How long does it take to sell a home in Galena, IL?
Average Sale Time
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
121 Days | 50 Days | -58.7% |
Summary: Homes in Galena had an average of 50 days on market in Feb 2024, down by 58.7% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 4 homes were sold in Galena; 25% 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.