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 October 2023

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.

Housing Prices in Addison, IL

How much do homes in Addison, IL cost?

Median Sold Price

$359,000

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$14,000(+4.1%)

Key Takeaway

Homes in Addison have sold for 4.1% more than they did a year ago.

Summary: The median home sold price in Addison was $359,000 in October 2024, up 4.1% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $115K$135K
+17.4%
2 $212.2K$262.5K
+23.7%
3 $334.5K$368.2K
+10.1%
4 $425K$455K
+7.1%
5+ $530K$550K
+3.8%

Summary: Addison housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.4%, 2 bedroom homes increased by 23.7%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 3.8%.

Median Sold Price Compared To Nearby Cities

Villa Park
+14.0%
Elmhurst
+13.6%
Wood Dale
+13.5%
Addison Township
+8.9%
Addison
+4.1%

Housing Supply in Addison, IL

How many homes are available in Addison, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
93103+10.8%

Summary: The Addison real estate market had 103 homes for sale in October 2024, a 10.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 55
0.0%
2 2425
+4.2%
3 4954
+10.2%
4 912
+33.3%
5+ 67
+16.7%

Summary: The Addison housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2229+31.8%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

12 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. 41.4% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in Addison in October 2024, up by 31.8% month-over-month. Of the 29 sold homes, 41% were sold under asking, 17% were sold at asking, and 41% 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

Oct 2023Oct 2024CHANGE
21 Days25 Days+19.0%

Summary: Homes in Addison had an average of 25 days on market in Oct 2024, up by 19% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was 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.

Summary: During October 2024, 29 homes were sold in Addison; 69% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 3% 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 11 Days Ago

Newest Listings in Addison, IL

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