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Old Northwest Land Co inc. © All Rights Reserved.
A Galena Illinois and Jo Daviess County Real Estate Company
Office Hours 7 Days a Week
Carl “Skip” and Carol Schwerdtfeger
Realtors® Licensed in Illinois
4359 Industrial Park, Suite 101
Galena IL 61036
(815) 266-7171 Carol
(815) 238-6083 Skip
Current Market Remarks:
The residential market is in full swing in our area. We are running out of inventory
in some areas (Like Apple Canyon Lake). BUT… There are still bargains out there!
While second home prices in the resort areas are lower than they have been in over
13 years (BARGAIN ALERT!), the primary residential homes in our local towns are selling
well (if they are priced right). Farm ground prices are still stable and are a great
cash rent value in this uncertain stock market. Commercial real estate in our market
is recovering too, but with under/un-employment realistically around 4% it might
be time to buy a job at a good price in a tourist location like Galena. This status
changes quickly and is monitored closely by all of our Professional Realtors®.
With interest rates staying low (for now), buyers are looking for bargains in the
market. So this means that while the inventory is shrinking slowly there are still
bargains to find for qualified buyers. So if were waiting for the best time to buy:
IT IS NOW! Before it is too late and interest rates inch UP! The homes and properties
that are selling are the ones that are priced properly for today’s market and have
the proper exposure (advertising and web presence). All very good reasons to use
a professional Realtor® to list your home and sell it, or help you buy your next
“On Golden Pond” property in today’s rapidly changing market.
So, Give Us a Call!
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 dollar 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® then 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.
Annual Statistical Data for the Realtor Association of Northwestern Illinois UPDATED: Feb. 5th, 2019
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|Galena Area Video|