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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Genoa is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Genoa, IL

How much do homes in Genoa, IL cost?

Median Sold Price

$250,000

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$37,500(+17.6%)

Key Takeaway

Homes in Genoa have sold for 17.6% more than they did a year ago.

Summary: The median home sold price in Genoa was $250,000 in March 2024, up 17.6% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $164.5K-
N/A
2 $186K$360.1K
+93.6%
3 $226.2K$242.5K
+7.2%
4 $236K$255K
+8.1%
5+ $234.5K$245K
+4.5%

Summary: Genoa housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 93.6%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 4.5%.

Median Sold Price Compared To Nearby Cities

Genoa Township
+19.6%
Kingston Township
+18.7%
Genoa
+17.6%

Housing Supply in Genoa, IL

How many homes are available in Genoa, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
19190.0%

Summary: The Genoa real estate market had 19 homes for sale in March 2024, the same as February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 55
0.0%
3 1212
0.0%
4 21
-50.0%
5+ 01
+100.0%

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

Number of Homes Sold

Feb 2024Mar 2024CHANGE
56+20.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 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. 33.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Genoa in March 2024, up by 20.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Genoa, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
21 Days19 Days-9.8%

Summary: Homes in Genoa had an average of 19 days on market in Mar 2024, down by 9.8% compared to last year.

Breakdown of Home Sale Times

5 Homes Were 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.

Summary: During March 2024, 6 homes were sold in Genoa; 83% of homes were sold within 30 days, 17% 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 25 Days Ago

Newest Listings in Genoa, IL

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