Is Galesburg, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Galesburg has remained a Seller's Market.
Key Takeaway
Galesburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Galesburg, MI
How much do homes in Galesburg, MI cost?
Median Sold Price
$276,437
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Galesburg have sold for 15.2% more than they did a year ago.
Summary: The median home sold price in Galesburg was $276,437 in March 2024, up 15.2% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $140K | $248K | +77.1% |
| 3 Bedrooms | $293.5K | $257.7K | -12.2% |
| 4 Bedrooms | $262K | $290K | +10.7% |
| 5+ Bedrooms | $440K | $400K | -9.1% |
Summary: Galesburg 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 77.1%, 3 bedroom homes decreased by 12.2%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 9.1%.
Median Sold Price Compared To Nearby Cities
| Galesburg | $240K | $276.4K | +15.2% |
| Comstock Charter Township | $235K | $269.9K | +14.9% |
Housing Supply in Galesburg, MI
How many homes are available in Galesburg, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 20 | 18 | -10.0% |
Summary: The Galesburg real estate market had 18 homes for sale in March 2024, a 10.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 12 | 9 | -25.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Galesburg 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 increased by 100%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Galesburg, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Galesburg in March 2024, up by 20.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Galesburg, MI
How long does it take to sell a home in Galesburg, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Galesburg has remained consistent over time.
Summary: During March 2024, 6 homes were sold in Galesburg; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
