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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Galena Township is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, West Galena Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in West Galena Township, IL

How much do homes in West Galena Township, IL cost?

Median Sold Price

$175,000

$157/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

-$108,000(-38.2%)

Key Takeaway

Homes in West Galena Township have sold for 38.2% less than they did a month ago.

Summary: The median home sold price in West Galena Township was $175,000 in February 2024, down 38.2% from last month, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 -$165.7K
N/A
3 $283K$440K
+55.5%
4 --
N/A
5+ --
N/A

Summary: West Galena Township housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 55.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Galena
-8.1%
West Galena Township
-38.2%

Housing Supply in West Galena Township, IL

How many homes are available in West Galena Township, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
54-20.0%

Summary: The West Galena Township real estate market had 4 homes for sale in February 2024, a 20.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 22
0.0%
3 21
-50.0%
4 00
0.0%
5+ 11
0.0%

Summary: The West Galena 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 remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Galena Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in West Galena Township in February 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for West Galena Township, IL

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

Average Sale Time

Jan 2024Feb 2024CHANGE
121 Days66 Days-45.5%

Summary: Homes in West Galena Township had an average of 66 days on market in Feb 2024, down by 45.5% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in West Galena Township has remained consistent over time.

Summary: During February 2024, 3 homes were sold in West Galena Township; 0% of homes were sold within 30 days, 67% 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 West Galena Township, IL

Nearby Markets to West Galena Township, IL