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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Genoa Township is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Genoa Township, IL

How much do homes in Genoa Township, IL cost?

Median Sold Price

$255,000

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$40,000(+18.6%)

Key Takeaway

Homes in Genoa Township have sold for 18.6% more than they did a year ago.

Summary: The median home sold price in Genoa Township was $255,000 in February 2024, up 18.6% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $164.5K-
N/A
2 $170K$354.1K
+108.3%
3 $234.2K$245K
+4.6%
4 $200K$278K
+39.0%
5+ $338K$245K
-27.5%

Summary: Genoa Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 108.3%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 39%, and 5+ bedroom homes decreased by 27.5%.

Median Sold Price Compared To Nearby Cities

Genoa Township
+18.6%
Genoa
+18.6%
Hampshire Township
+17.3%
Kingston Township
+16.9%
Burlington Township
+12.3%

Housing Supply in Genoa Township, IL

How many homes are available in Genoa Township, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2120-4.8%

Summary: The Genoa Township real estate market had 20 homes for sale in February 2024, a 4.8% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 1412
-14.3%
4 23
+50.0%
5+ 10
-100.0%

Summary: The Genoa Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
54-20.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Genoa Township, you could pay more than the asking price. 75% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Genoa Township in February 2024, down by 20.0% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.

Days on Market for Genoa Township, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
68 Days14 Days-79.6%

Summary: Homes in Genoa Township had an average of 14 days on market in Feb 2024, down by 79.6% compared to last year.

Breakdown of Home Sale Times

3 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 Township are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 4 homes were sold in Genoa Township; 75% of homes were sold within 30 days, 25% 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 28 Days Ago

Newest Listings in Genoa Township, IL

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