Is Galena Township, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Galena Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Galena Township has remained a Seller's Market.

Key Takeaway

Galena Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Galena Township, MO

How much do homes in Galena Township, MO cost?

Median Sold Price

$166,000

$115/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$1,900(+1.2%)

Key Takeaway

Homes in Galena Township have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Galena Township was $166,000 in May 2024, up 1.2% from last year, and the median price per square foot was $115.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $66.5K$50.7K
-23.7%
2 $90K$112K
+24.4%
3 $174.6K$179.3K
+2.7%
4 $281.4K$240.5K
-14.5%
5+ $304.4K$407.5K
+33.8%

Summary: Galena Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.7%, 2 bedroom homes increased by 24.4%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 14.5%, and 5+ bedroom homes increased by 33.8%.

Median Sold Price Compared To Nearby Cities

Galena
+29.1%
Joplin
+5.0%
Galena Township
+1.2%
Shoal Creek Township
-6.2%

Housing Supply in Galena Township, MO

How many homes are available in Galena Township, MO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
217239+10.1%

Summary: The Galena Township real estate market had 239 homes for sale in May 2024, a 10.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 25
+150.0%
2 4960
+22.4%
3 101108
+6.9%
4 4445
+2.3%
5+ 2121
0.0%

Summary: The Galena Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
4851+6.3%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Galena Township, you could pay more than the asking price. 36.7% of homes here sold above asking price last month.

Summary: A total of 51 homes were sold or pending in Galena Township in May 2024, up by 6.3% month-over-month. Of the 49 sold homes, 33% were sold under asking, 31% were sold at asking, and 37% were sold over asking.

Days on Market for Galena Township, MO

How long does it take to sell a home in Galena Township, MO?

Average Sale Time

May 2023May 2024CHANGE
67 Days66 Days-1.8%

Summary: Homes in Galena Township had an average of 66 days on market in May 2024, down by 1.8% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

32 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Galena Township has remained consistent over time.

Summary: During May 2024, 51 homes were sold in Galena Township; 22% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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