Is Prairie Grove, 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, Prairie Grove has remained a Seller's Market.
Housing Prices in Prairie Grove, IL
How much do homes in Prairie Grove, IL cost?
Median Sold Price
$489,900
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Prairie Grove was $489,900 in May 2024, up 7.8% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $344.9K | $242K | -29.8% |
3 Bedrooms | $401.5K | $298.5K | -25.7% |
4 Bedrooms | $547.7K | $577.7K | +5.5% |
5+ Bedrooms | $615K | $589K | -4.2% |
Summary: Prairie Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 29.8%, 3 bedroom homes decreased by 25.7%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes decreased by 4.2%.
Median Sold Price Compared To Nearby Cities
Crystal Lake | $290.9K | $350K | +20.3% |
Nunda Township | $300K | $337K | +12.3% |
McHenry | $250.7K | $273.7K | +9.2% |
Prairie Grove | $454.4K | $489.9K | +7.8% |
Housing Supply in Prairie Grove, IL
How many homes are available in Prairie Grove, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 10 | +11.1% |
Summary: The Prairie Grove real estate market had 10 homes for sale in May 2024, a 11.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 3 | 2 | -33.3% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Prairie Grove 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 increased by 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Prairie Grove in May 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Prairie Grove, IL
How long does it take to sell a home in Prairie Grove, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
123 Days | 11 Days | -91.1% |
Summary: Homes in Prairie Grove had an average of 11 days on market in May 2024, down by 91.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Prairie Grove; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.