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Old Northwest Land Co inc. © All Rights Reserved.
117 Irvine St. Ste. C, Galena, IL 61036
sales@oldnorthwestlandco.com
Telephone: 815.777.1776
(815) 757-1776
(815) 777-1776 office (815) 880-7822 fax
Dick Deininger, Realtor®
Licensed in Illinois & Wisconsin
117 Irvine St. Suite C
Galena IL 61036
A Galena Illinois and Jo Daviess County Real Estate Company
Current Market Remarks:
The residential market is picking up in our area. There are bargains out there! BUT,
this will DEFINITELY NOT last. While second home prices in the resort areas are substantially
lower than they have been in over 12 years (BARGAIN ALERT!), the primary residential
homes in our local towns are selling well (if they are priced right). Farm ground
prices are stable with the price of corn and soybeans and are a great cash rent value
in this uncertain stock market. Commercial real estate in our market is recovering
too, but with unemployment realistically around 7% 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®.
Foreclosures, interest rates are creeping upward and buyers looking for bargains
in the market did cause some decrease in sales. 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 STILL NOW! Before it is too late! The
homes and properties that are selling are the ones that are priced properly for today’s
market and have the proper exposure (advertising). All very good reasons to use a
professional Realtor® to list, sell and help you buy 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: Oct. 3rd, 2014
