Is Addison, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$348,750
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Addison was $348,750 in March 2024, up 10.3% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112K | $120.5K | +7.6% |
2 Bedrooms | $197.4K | $261K | +32.2% |
3 Bedrooms | $312K | $340K | +9.0% |
4 Bedrooms | $424K | $467K | +10.1% |
5+ Bedrooms | $465K | $572.5K | +23.1% |
Summary: Addison housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes increased by 32.2%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 23.1%.
Median Sold Price Compared To Nearby Cities
Addison | $316.2K | $348.7K | +10.3% |
Addison Township | $324.8K | $344K | +5.9% |
Wood Dale | $310K | $315K | +1.6% |
Villa Park | $305K | $309.5K | +1.5% |
Elmhurst | $538.5K | $514.7K | -4.4% |
Housing Supply in Addison, IL
How many homes are available in Addison, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
50 | 72 | +44.0% |
Summary: The Addison real estate market had 72 homes for sale in March 2024, a 44.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 9 | 12 | +33.3% |
3 Bedrooms | 25 | 41 | +64.0% |
4 Bedrooms | 9 | 9 | 0.0% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Addison housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 64%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 13 | +62.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Addison in March 2024, up by 62.5% month-over-month. Of the 13 sold homes, 23% were sold under asking, 8% were sold at asking, and 69% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
22 Days | 10 Days | -52.6% |
Summary: Homes in Addison had an average of 10 days on market in Mar 2024, down by 52.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in Addison; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.