Is Galesburg, IL 61401 a buyer’s or seller’s market?

The Galesburg housing market right now

In the three months ending August 31, 2026, 28% of homes in Galesburg, IL 61401 sold above their list price, the typical home went under contract in 39 days and there were 2.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 120 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 25%, homes sold about as fast and the median sale price fell 10% to $119,948. Overall, Galesburg is more competitive than a year ago, so tougher for buyers.

Within Knox County, homes here sell faster than in 77% of the county’s ZIP codes, and sell more often over asking than in 77%. On our competition score, Galesburg ranks #381 of 464 IL ZIP codes with enough sales (score 47 out of 100).

Nearby, buyers who want less competition could look at Williamsfield 61489 (0% sold over asking) or Wataga 61488 (0% sold over asking), while Maquon 61458 (50% sold over asking) and Victoria 61485 (50% sold over asking) are even more competitive.