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Galesburg Reporter

Wednesday, December 25, 2024

Rio home prices fall in the second half of 2017

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The median sale price of a home sold in the second half of 2017 in Rio fell by $7,500 while total sales decreased by 40%, according to BlockShopper.com.

From July through December of 2017, there were three homes sold, with a median sale price of $35,000 - a 17.6% decrease over the $42,500 median sale price for the same period of the previous year. There were five homes sold in Rio in the second half of 2016.

The median sales tax in Rio for 2017 was $1,704. In 2016, the median sales tax was $1,945. This marks an decrease of 12.4%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 4.9%.

The following table compares Rio to other Knox County cities with similar median sales prices in the second half of 2017:

CityJuly - Dec. 2017 Home SalesJuly - Dec. 2016 Home Sales% change (Total Home Sales)July - Dec. 2017 Median Sales PriceJuly - Dec. 2016 Median Sales Price% change (Median Sales Price)
Galesburg2682631.9%$70,000$61,00014.8%
Yates City47-42.9%$70,000$20,000250%
Altona58-37.5%$61,000$50,50020.8%
Wataga8714.3%$56,750$80,000-29.1%
Williamsfield9812.5%$56,500$44,00028.4%
Knoxville1842-57.1%$54,000$75,000-28%
Abingdon2636-27.8%$53,500$46,75014.4%
Gilson10-$51,000$0-
East Galesburg57-28.6%$48,000$91,500-47.5%
Rio35-40%$35,000$42,500-17.6%
Oneida7475%$34,000$90,000-62.2%

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