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(815) 777-1776
(815) 777-1776 office (815) 880-7827 fax
117 Irvine St. Ste. C, Galena, IL 61036
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A Word of Caution: While this data can be revealing in many ways, it can also be a little misleading. For example: this does show that the total sales volume for the Galena Territory market has decreased since 2005, it does not split out the vacant lots versus homes sold, or tell you the total number of sales. Adding these data points may skew the data to show that while the volume may be down the average price per home sold may be up and this data may be different for homes versus vacant lots. So it is IMPORTANT to call your professional Realtor® so he/she can interpret the data towards your buying or selling needs and help you make the right informed real estate decisions for your situation.
Market Remarks:
Overall the residential market, is a strong buyers’ market. This means there are
bargains out there! However, while second home prices in the resort areas may be
dropping, primary residential homes in the small towns are only down slightly, farms
& large residential vacant land prices are only down slightly and are a good value.
Commercial real estate in our market is also holding their value. This status changes
quickly and is monitored closely by our Realtors®.
There has been some real estate recovery in the first quarter by the First Time Home Buyers Credit, the Current Home Owners Buyer Credit, foreclosures, and by buyers looking for bargains. So this means that while there is plenty of inventory to find what buyers are looking for, the inventory volumes are going down. All very good reasons to use a professional Realtor® to list, sell and help you buy property in today’s rapidly changing market.
Annual Statistical Data for the Realtor Association of Northwestern Illinois UPDATED: September 1, 2010
