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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Genoa is a buyer's market

Buyer's
Market

Difference Since January 2022

At the same time last year, Genoa was a Seller's Market.

Key Takeaway

Genoa is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Genoa, IL cost?

Median Sold Price

$215,000

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$26,000(+13.8%)

Key Takeaway

Homes in Genoa have sold for 13.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 --
N/A
2 $187.4K$190K
+1.4%
3 $189K$225K
+19.0%
4 $195K$200K
+2.6%
5+ $305.9K$234.5K
-23.3%

Median Sold Price Compared To Nearby Cities

Genoa Township
+14.5%
Genoa
+13.8%
Kingston Township
+10.7%

How many homes are available in Genoa, IL?

Number of Homes For Sale

Dec 2022Jan 2023%
1716-5.9%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 11
0.0%
2 54
-20.0%
3 77
0.0%
4 33
0.0%
5+ 11
0.0%

Number of Homes Sold

Dec 2022Jan 2023%
32-33.3%

Asking Price vs. Sold Price

2 Homes Were 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 Genoa, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
15 Days40 Days+158.1%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Genoa, IL

Number of homes for sale in Genoa, IL real estate market have reached 16. The inventory of homes for sale in Genoa, IL between December 2022 and January 2023 decreased by 5.9%. While the average time on the market in January 2023 was 40 days, the median list price was $215,000. Real estate listing prices changed between December 2022 and January 2023: 1 bedroom properties prices increased by 0%, 2 bedrooms properties prices increased by 1.4%, the cost of 3 bedrooms properties went up by 19%, the cost of 4 bedrooms properties went up by 2.6%, 5 bedrooms properties became 23.3% more cheaper. The following changes in the number of homes for sale were observed in this housing market: number of 1 bedroom homes remained the same, number of 2 bedrooms homes decreased by 20%, volume of 3 bedrooms homes stayed the same, volume of 4 bedrooms homes stayed the same, number of 5 bedrooms homes remained the same. Over 0 listings were sold over their listed price in January 2023 in Genoa, IL. In the same period over 2 listings were sold below the listed price and 0 listings were sold for the listed price.

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