Is Buffalo Grove, 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, Buffalo Grove has remained a Seller's Market.
Housing Prices in Buffalo Grove, IL
How much do homes in Buffalo Grove, IL cost?
Median Sold Price
$375,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Buffalo Grove was $375,000 in March 2024, up 4.1% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $122.5K | $141K | +15.1% |
2 Bedrooms | $234K | $240K | +2.6% |
3 Bedrooms | $376K | $384.5K | +2.3% |
4 Bedrooms | $505K | $535K | +5.9% |
5+ Bedrooms | $650.3K | $671K | +3.2% |
Summary: Buffalo Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.1%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Cities
Wheeling | $256.5K | $272K | +6.0% |
Buffalo Grove | $360.4K | $375K | +4.1% |
Vernon Township | $459.8K | $474.6K | +3.2% |
Lincolnshire | $625K | $611K | -2.2% |
Housing Supply in Buffalo Grove, IL
How many homes are available in Buffalo Grove, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
123 | 146 | +18.7% |
Summary: The Buffalo Grove real estate market had 146 homes for sale in March 2024, a 18.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 8 | 0.0% |
2 Bedrooms | 39 | 45 | +15.4% |
3 Bedrooms | 38 | 52 | +36.8% |
4 Bedrooms | 33 | 35 | +6.1% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Buffalo Grove housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 36.8%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
26 | 44 | +69.2% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 44 homes were sold or pending in Buffalo Grove in March 2024, up by 69.2% month-over-month. Of the 44 sold homes, 36% were sold under asking, 14% were sold at asking, and 50% were sold over asking.
Days on Market for Buffalo Grove, IL
How long does it take to sell a home in Buffalo Grove, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 24 Days | -14.1% |
Summary: Homes in Buffalo Grove had an average of 24 days on market in Mar 2024, down by 14.1% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 44 homes were sold in Buffalo Grove; 75% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.