Galena, IL Foreclosures
How much do homes sell for in Galena, IL?
The average home price is currently $324,246.
In Galena, IL, how many homes are available?
There are currently 3 active home listings available in Galena.
What’s the average rental cost in Galena, IL?
The average rental price in Galena is $1,526.
What is the most expensive home in Galena?
The most expensive home sold in Galena had a price of $5,265,813.
What is currently the cheapest priced home in Galena, IL?
The cheapest home for sale in Galena is priced at $10,061.
Living in Galena, IL
Galena, IL is a historic town known for its stunning architecture, rich history, and vibrant community. Nestled along the Mississippi River, it offers various outdoor activities, arts, and dining options, making it an attractive place to live. Residents enjoy a small-town atmosphere with easy access to nature and recreational opportunities.
Current Market Conditions in Galena, IL
Galena's real estate market is currently experiencing steady growth, with a mix of charming vintage homes and modern properties attracting both buyers and investors. The market is characterized by a relatively low inventory, leading to increased competition among potential buyers. As tourism in the area grows, interest in vacation homes has also surged, contributing to a dynamic market.
The appeal of Galena's lifestyle and the picturesque setting have led to a demand for properties that cater to both permanent residents and those seeking weekend getaways. Recent developments in the area, including community events and nearby amenities, have further enhanced its attractiveness.
As of late 2023, the real estate trends indicate a balanced market with slight upward pressure on prices. Buyers are encouraged to act quickly as homes tend to sell fast, reflecting the area's desirability.
Home Value Estimator For Galena, IL
There are currently 4,369 real estate properties
in Galena, IL,
with a median automated valuation model (AVM) price
of $284,145.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Galena, IL, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Galena, IL,
is $324,246.00, with the most expensive house
in Galena, IL, topping out
at $5,265,813.00 and the cheapest home
in Galena, IL,
clocking in at $10,061.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Galena, IL!
Rent Prices
In Galena, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Galena, IL, is on
a rollercoaster ride. The
average rent price in Galena, IL,
is $1,526.00. Indeed, when looking to rent in
Galena, IL, you can expect to pay as little
as $570.00 or as much
as $1,880.00,
with the average rent median estimated to
be $1,520.00. The good news is that finding
an affordable and desirable property to rent in Galena, IL
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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