Is Elburn, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elburn is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Elburn has remained a Seller's Market.

Key Takeaway

Elburn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Elburn, IL

How much do homes in Elburn, IL cost?

Median Sold Price

$421,175

$180/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$31,175(+8.0%)

Key Takeaway

Homes in Elburn have sold for 8% more than they did a year ago.

Summary: The median home sold price in Elburn was $421,175 in May 2024, up 8% from last year, and the median price per square foot was $180.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $120K$219.9K
+83.3%
2 $207.5K$255K
+22.9%
3 $365K$387K
+6.0%
4 $435K$459.9K
+5.7%
5+ $474.3K$510K
+7.5%

Summary: Elburn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 83.3%, 2 bedroom homes increased by 22.9%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 7.5%.

Median Sold Price Compared To Nearby Cities

Maple Park
+46.7%
Campton Township
+10.5%
Elburn
+8.0%
Blackberry Township
+7.8%

Housing Supply in Elburn, IL

How many homes are available in Elburn, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7765-15.6%

Summary: The Elburn real estate market had 65 homes for sale in May 2024, a 15.6% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 3723
-37.8%
4 3135
+12.9%
5+ 87
-12.5%

Summary: The Elburn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 37.8%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3320-39.4%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elburn, you could pay more than the asking price. 40% of homes here sold above asking price last month.

Summary: A total of 20 homes were sold or pending in Elburn in May 2024, down by 39.4% month-over-month. Of the 20 sold homes, 30% were sold under asking, 30% were sold at asking, and 40% were sold over asking.

Days on Market for Elburn, IL

How long does it take to sell a home in Elburn, IL?

Average Sale Time

May 2023May 2024CHANGE
14 Days30 Days+116.4%

Summary: Homes in Elburn had an average of 30 days on market in May 2024, up by 116.4% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Elburn are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 20 homes were sold in Elburn; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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