Is Galesburg City Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Galesburg City Township is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Galesburg City Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Galesburg City Township, IL

How much do homes in Galesburg City Township, IL cost?

Median Sold Price

$95,750

$73/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$3,116(+3.4%)

Key Takeaway

Homes in Galesburg City Township have sold for 3.4% more than they did a year ago.

Summary: The median home sold price in Galesburg City Township was $95,750 in April 2024, up 3.4% from last year, and the median price per square foot was $73.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $41K$34K
-17.1%
2 $73K$71K
-2.7%
3 $100K$105.7K
+5.8%
4 $133K$135K
+1.5%
5+ $117.5K$162K
+37.9%

Summary: Galesburg City Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.1%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 37.9%.

Median Sold Price Compared To Nearby Cities

Galesburg
+7.3%
Galesburg City Township
+3.4%
Galesburg Township
-9.5%

Housing Supply in Galesburg City Township, IL

How many homes are available in Galesburg City Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
7785+10.4%

Summary: The Galesburg City Township real estate market had 85 homes for sale in April 2024, a 10.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 42
-50.0%
2 2323
0.0%
3 3943
+10.3%
4 1013
+30.0%
5+ 14
+300.0%

Summary: The Galesburg City Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 300%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2722-18.5%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Galesburg City Township, you may be able to get a good deal. 36.4% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Galesburg City Township in April 2024, down by 18.5% month-over-month. Of the 22 sold homes, 36% were sold under asking, 32% were sold at asking, and 32% were sold over asking.

Days on Market for Galesburg City Township, IL

How long does it take to sell a home in Galesburg City Township, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
50 Days23 Days-54.2%

Summary: Homes in Galesburg City Township had an average of 23 days on market in Apr 2024, down by 54.2% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Galesburg City Township are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 22 homes were sold in Galesburg City Township; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% 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 1 Day Ago

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