Embark on a journey through the serene real estate landscape of Galena, Ohio, where picturesque surroundings meet a dynamic housing market. In this blog post, we’ll delve into the key housing statistics and market trends that make Galena an enchanting destination for those seeking a harmonious blend of nature and real estate opportunities.
**1. Balanced Inventory Dynamics:**
Galena presents a market with balanced inventory dynamics, boasting 0.83 months of inventory. This equilibrium ensures a dynamic environment where properties are available for discerning buyers while maintaining a competitive edge for sellers.
**2. Pricing Precision and Consistency:**
Experience pricing precision and consistency in Galena with a remarkable 100.7% list-to-sold price ratio. This indicates a market where properties are valued accurately, fostering an environment where sellers achieve optimal returns on their investments.
**3. November’s Tranquility:**
November brought a touch of tranquility to Galena with 13 new listings entering the market. The median new listing price of $569,900 showcases the city’s commitment to providing a diverse range of homes that capture the essence of its serene surroundings.
**4. Active Listings Snapshot:**
Galena offers a curated selection of options with 11 active listings in November. The median active listing price is $684,900, reflecting the city’s dedication to providing upscale housing options that complement the natural beauty of the area.
**5. Efficient Transactions and Market Activity:**
Properties in Galena move efficiently, with an average of just 38 days on the market. November witnessed 13 properties successfully changing hands, with a median sold price of $608,000 on market. Additionally, 15 properties were sold off market, with a median price of $519,900.
**6. Value Appreciation:**
The estimated property value in Galena is $643,110, showcasing a thriving market with a positive 0.8% change from the previous month and an impressive 6.4% increase from the same period last year. This growth underscores Galena’s charm and potential for continued value appreciation.
Galena, Ohio, stands as a hidden gem where real estate opportunities harmonize with the tranquility of the surroundings. Whether you’re captivated by the new listings, the efficient transactions, or the potential for value appreciation, Galena invites you to experience a dynamic and picturesque real estate environment.