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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Galewood is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Galewood, IL

How much do homes in Galewood, IL cost?

Median Sold Price

$347,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$2,000(+0.6%)

Key Takeaway

Homes in Galewood have sold for 0.6% more than they did a year ago.

Summary: The median home sold price in Galewood was $347,000 in April 2024, up 0.6% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $123.5K$131K
+6.1%
2 $202.5K$185K
-8.6%
3 $362.5K$350K
-3.4%
4 $370K$392.5K
+6.1%
5+ $436.5K$425K
-2.6%

Summary: Galewood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.1%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 2.6%.

Median Sold Price Compared To Nearby Neighborhoods

Austin
+15.3%
Montclare
+8.4%
Northwest Side
+3.7%
Belmont Cragin
+0.9%
Galewood
+0.6%

Housing Supply in Galewood, IL

How many homes are available in Galewood, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
17170.0%

Summary: The Galewood real estate market had 17 homes for sale in April 2024, the same as March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 01
+100.0%
2 64
-33.3%
3 55
0.0%
4 23
+50.0%
5+ 44
0.0%

Summary: The Galewood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
63-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Galewood, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Summary: A total of 3 homes were sold or pending in Galewood in April 2024, down by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% were sold over asking.

Days on Market for Galewood, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
11 Days9 Days-17.3%

Summary: Homes in Galewood had an average of 9 days on market in Apr 2024, down by 17.3% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 3 homes were sold in Galewood; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 4 Days Ago

Newest Listings in Galewood, IL

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