Is Geneseo, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Geneseo was a Neutral Market.
Key Takeaway
Geneseo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Geneseo, IL
How much do homes in Geneseo, IL cost?
Median Sold Price
$215,000
$107/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Geneseo have sold for 34.4% more than they did a year ago.
Summary: The median home sold price in Geneseo was $215,000 in April 2024, up 34.4% from last year, and the median price per square foot was $107.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $97.5K | N/A |
| 2 Bedrooms | $138.5K | $151K | +9.0% |
| 3 Bedrooms | $159.9K | $205K | +28.2% |
| 4 Bedrooms | $190K | $240K | +26.3% |
| 5+ Bedrooms | $324.4K | $273.1K | -15.8% |
Summary: Geneseo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9%, 3 bedroom homes increased by 28.2%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes decreased by 15.8%.
Median Sold Price Compared To Nearby Cities
| Geneseo | $160K | $215K | +34.4% |
| Geneseo Township | $160K | $215K | +34.4% |
Housing Supply in Geneseo, IL
How many homes are available in Geneseo, IL?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 27 | -3.6% |
Summary: The Geneseo real estate market had 27 homes for sale in April 2024, a 3.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 2 | -66.7% |
| 3 Bedrooms | 9 | 11 | +22.2% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Geneseo housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes increased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Geneseo, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Geneseo in April 2024, up by 25.0% month-over-month. Of the 10 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Geneseo, IL
How long does it take to sell a home in Geneseo, IL?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 26 Days | -9.7% |
Summary: Homes in Geneseo had an average of 26 days on market in Apr 2024, down by 9.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Geneseo are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Geneseo; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of RMLS Alliance as distributed by MLS GRID.