Is Galena, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Galena is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Galena was a Neutral Market.

Key Takeaway

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

How much do homes in Galena, IL cost?

Median Sold Price

$138,500

$83/sqft

Based on all homes sold in November 2022.

Difference Since Last Month

-$176,500(-56.0%)

Key Takeaway

Homes in Galena have sold for 56% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSOct 2022Nov 2022%
1 --
N/A
2 --
N/A
3 $315K$138.5K
-56.0%
4 --
N/A
5+ --
N/A

Median Sold Price Compared To Nearby Cities

Galena
-56.0%
West Galena Township
-56.0%

How many homes are available in Galena, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
65-16.7%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 00
0.0%
2 11
0.0%
3 43
-25.0%
4 11
0.0%
5+ 00
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
110.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Galena, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Average Sale Time

Oct 2022Nov 2022%
76 Days102 Days+34.2%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Galena are taking a long time to sell, it's a good idea to negotiate on homes here.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Galena, IL

Homes for sale in Galena, IL have reached 5. In November 2022 in Galena, IL there were 16.7% less homes for sale than in October 2022. In November 2022 median list price was $138,500 and the average listing age was 102 days. This housing market listing prices have changed between November 2021 and November 2022: prices of 1 bedroom properties increased by 0%, the cost of 2 bedrooms properties went up by 0%, prices of 3 bedrooms properties went down by 56%, the cost of 4 bedrooms properties went up by 0%, prices of 5 bedrooms properties increased by 0%. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes stayed the same, the quantity of 2 bedrooms homes have not changed, number of 3 bedrooms homes decreased by 25%, 4 bedrooms homes did not move, volume of 5 bedrooms homes stayed the same. Over 0 listings were sold over their listed price in November 2022 in Galena, IL. In the same period over 1 listings were sold below the listed price and 0 listings were sold for the listed price.