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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 moving UP 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
15 years (BARGAIN ALERT!), the primary residential homes in our local towns are selling
well (if they are priced right). Farm ground prices are stable and are a great cash
rent value in this uncertain stock market. Commercial real estate in our market is
recovering too, but with un-employment realistically around 3% 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®, so consult
with them BEFORE purchasing.
With interest rates staying low, 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, or there is no inventory!
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. 7th, 2020
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|Galena Area Video|