$58,500 House For Sale
2 bed, 1.0 bath, 864 sqft
The median home value in Galesburg is $60,700. Galesburg home values have declined -0.7% over the past year. The median list price per square foot in Galesburg is $65, which is lower than the Galesburg Metro average of $71. The median price of homes currently listed in Galesburg is $89,500 while the median price of homes that sold is $56,700.
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Galesburg is 2.8%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Galesburg homeowners underwater on their mortgage is 13.5%.more
The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.