Is Addison, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Addison has remained a Seller's Market.
Housing Prices in Addison, IL
How much do homes in Addison, IL cost?
Median Sold Price
$350,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Addison was $350,000 in May 2024, up 6.1% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $116K | $130.5K | +12.5% |
2 Bedrooms | $220K | $257.5K | +17.0% |
3 Bedrooms | $319K | $350K | +9.7% |
4 Bedrooms | $415K | $479K | +15.4% |
5+ Bedrooms | $470.2K | $572.5K | +21.7% |
Summary: Addison housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 21.7%.
Median Sold Price Compared To Nearby Cities
Addison Township | $327.5K | $350K | +6.9% |
Addison | $329.9K | $350K | +6.1% |
Wood Dale | $310K | $327K | +5.5% |
Villa Park | $299.4K | $316K | +5.5% |
Elmhurst | $524.5K | $529.9K | +1.0% |
Housing Supply in Addison, IL
How many homes are available in Addison, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
80 | 75 | -6.3% |
Summary: The Addison real estate market had 75 homes for sale in May 2024, a 6.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 2 | -60.0% |
2 Bedrooms | 15 | 20 | +33.3% |
3 Bedrooms | 40 | 34 | -15.0% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Addison housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 60%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 15%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
30 | 20 | -33.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Addison in May 2024, down by 33.3% month-over-month. Of the 20 sold homes, 50% were sold under asking, 5% were sold at asking, and 45% were sold over asking.
Days on Market for Addison, IL
How long does it take to sell a home in Addison, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 15 Days | -37.7% |
Summary: Homes in Addison had an average of 15 days on market in May 2024, down by 37.7% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 20 homes were sold in Addison; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.