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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Addison Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Addison Township, IL

How much do homes in Addison Township, IL cost?

Median Sold Price

$344,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$19,110(+5.9%)

Key Takeaway

Homes in Addison Township have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in Addison Township was $344,000 in March 2024, up 5.9% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $120K$130K
+8.3%
2 $232.5K$250K
+7.5%
3 $320.5K$346.5K
+8.1%
4 $432K$477.5K
+10.5%
5+ $499K$575K
+15.2%

Summary: Addison Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 15.2%.

Median Sold Price Compared To Nearby Cities

Addison
+10.3%
Addison Township
+5.9%
Itasca
+5.5%
Bensenville
+2.8%
Wood Dale
+1.6%

Housing Supply in Addison Township, IL

How many homes are available in Addison Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
164204+24.4%

Summary: The Addison Township real estate market had 204 homes for sale in March 2024, a 24.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 46
+50.0%
2 2836
+28.6%
3 80102
+27.5%
4 3543
+22.9%
5+ 1717
0.0%

Summary: The Addison Township 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 28.6%, 3 bedroom homes increased by 27.5%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3751+37.8%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Addison Township, you may be able to get a good deal. 49% of homes here sold below asking price last month.

Summary: A total of 51 homes were sold or pending in Addison Township in March 2024, up by 37.8% month-over-month. Of the 51 sold homes, 49% were sold under asking, 8% were sold at asking, and 43% were sold over asking.

Days on Market for Addison Township, IL

How long does it take to sell a home in Addison Township, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
23 Days30 Days+28.9%

Summary: Homes in Addison Township had an average of 30 days on market in Mar 2024, up by 28.9% compared to last year.

Breakdown of Home Sale Times

31 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 51 homes were sold in Addison Township; 61% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 12% 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 25 Days Ago

Newest Listings in Addison Township, IL

Nearby Markets to Addison Township, IL

What housing markets are near Addison Township, IL?