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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Addison is a seller's market

Buyer's
Market

Difference Since September 2021

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

Key Takeaway

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

How much do homes in Addison, IL cost?

Median Sold Price

$310,000

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$20,000(+6.9%)

Key Takeaway

Homes in Addison have sold for 6.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $95.5K$108K
+13.1%
2 $199.7K$208K
+4.1%
3 $289K$304K
+5.2%
4 $379K$421K
+11.1%
5+ $425K$475K
+11.8%

Median Sold Price Compared To Nearby Cities

Glendale Heights
+7.7%
Villa Park
+7.0%
Addison
+6.9%
Addison Township
+4.0%
Wood Dale
+1.8%

How many homes are available in Addison, IL?

Number of Homes For Sale

Aug 2022Sep 2022%
10398-4.9%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 33
0.0%
2 1618
+12.5%
3 5148
-5.9%
4 2525
0.0%
5+ 84
-50.0%

Number of Homes Sold

Aug 2022Sep 2022%
3128-9.7%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Addison, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
19 Days17 Days-11.1%

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Addison, IL

Number of homes for sale in Addison, IL real estate market have reached 98. In September 2022 in Addison, IL there were 4.9% less homes for sale than in August 2022. While the average time on the market in September 2022 was 17 days, the median list price was $310,000. Real estate listing prices changed between August 2022 and September 2022: 1 bedroom properties became 13.1% more expensive, 2 bedrooms properties became 4.1% more expensive, the cost of 3 bedrooms properties went up by 5.2%, the cost of 4 bedrooms properties went up by 11.1%, 5 bedrooms properties became 11.8% more expensive. Housing inventory have changed in this real estate market: 1 bedroom homes inventory did not change, the quantity of 2 bedrooms homes went up by 12.5%, 3 bedrooms homes inventory decreased by 5.9%, 4 bedrooms homes inventory did not change, 5 bedrooms homes became 50% less available. In September 2022, from all listings sold in Addison, IL there were more than 7 sold above asking price, over 16 sold below and more than 5 were sold right at the asked price.

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