Is Buffalo Grove, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Buffalo Grove is a seller's market

Buyer's
Market

Difference Since September 2021

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

Key Takeaway

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

How much do homes in Buffalo Grove, IL cost?

Median Sold Price

$333,700

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$13,116(+4.1%)

Key Takeaway

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

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $109K$119K
+9.2%
2 $190K$220.7K
+16.2%
3 $325K$369.5K
+13.7%
4 $435K$485K
+11.5%
5+ $528K$645.4K
+22.2%

Median Sold Price Compared To Nearby Cities

Lincolnshire
+14.8%
Vernon Township
+8.5%
Wheeling
+8.3%
Buffalo Grove
+4.1%
Riverwoods
-0.4%

How many homes are available in Buffalo Grove, IL?

Number of Homes For Sale

Aug 2022Sep 2022%
193158-18.1%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 118
-27.3%
2 5844
-24.1%
3 5559
+7.3%
4 6241
-33.9%
5+ 76
-14.3%

Number of Homes Sold

Aug 2022Sep 2022%
8757-34.5%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Buffalo Grove, you may be able to get a good deal. 54.4% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
19 Days10 Days-46.0%

Breakdown of Home Sale Times

54 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Buffalo Grove 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 Buffalo Grove, IL

Buffalo Grove, IL has 158 homes on the market. The number of homes for sale in Buffalo Grove, IL decreased by 18.1% between August 2022 and September 2022. In September 2022, listings were on the market for 10 days. During the same period, the median list price in this real estate market was $333,700. Real estate listing prices changed between August 2022 and September 2022: 1 bedroom properties prices increased by 9.2%, prices of 2 bedrooms properties increased by 16.2%, the cost of 3 bedrooms properties went up by 13.7%, 4 bedrooms properties became 11.5% more expensive, prices of 5 bedrooms properties increased by 22.2%. This housing market inventory have changed: volume of 1 bedroom homes went down by 27.3%, number of 2 bedrooms homes decreased by 24.1%, number of 3 bedrooms homes increased by 7.3%, 4 bedrooms homes inventory decreased by 33.9%, 5 bedrooms homes inventory decreased by 14.3%. In September 2022, from all listings sold in Buffalo Grove, IL there were more than 21 sold above asking price, over 31 sold below and more than 5 were sold right at the asked price.

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