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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Galesburg Township is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Galesburg Township, IL

How much do homes in Galesburg Township, IL cost?

Median Sold Price

$99,586

$74/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$10,413(-9.5%)

Key Takeaway

Homes in Galesburg Township have sold for 9.5% less than they did a year ago.

Summary: The median home sold price in Galesburg Township was $99,586 in April 2024, down 9.5% from last year, and the median price per square foot was $74.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $27K$41.2K
+52.8%
2 $75K$74.9K
0%
3 $110K$108K
-1.8%
4 $139.4K$145.9K
+4.7%
5+ -$162K
N/A

Summary: Galesburg Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.8%, 2 bedroom homes did not change, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

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

Housing Supply in Galesburg Township, IL

How many homes are available in Galesburg Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
8498+16.7%

Summary: The Galesburg Township real estate market had 98 homes for sale in April 2024, a 16.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 43
-25.0%
2 2424
0.0%
3 4249
+16.7%
4 1318
+38.5%
5+ 14
+300.0%

Summary: The Galesburg Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 300%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2822-21.4%

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 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 Township in April 2024, down by 21.4% 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 Township, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
52 Days23 Days-56.3%

Summary: Homes in Galesburg Township had an average of 23 days on market in Apr 2024, down by 56.3% 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 Township are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 22 homes were sold in Galesburg 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 3 Days Ago

Newest Listings in Galesburg Township, IL

Nearby Markets to Galesburg Township, IL

What housing markets are near Galesburg Township, IL?