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 2023

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.

Housing Prices in Buffalo Grove, IL

How much do homes in Buffalo Grove, IL cost?

Median Sold Price

$399,600

$223/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$35,100(+9.6%)

Key Takeaway

Homes in Buffalo Grove have sold for 9.6% more than they did a year ago.

Summary: The median home sold price in Buffalo Grove was $399,600 in September 2024, up 9.6% from last year, and the median price per square foot was $223.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $145K$143.5K
-1.0%
2 $230K$265K
+15.2%
3 $366K$420K
+14.8%
4 $529.4K$561K
+6.0%
5+ $650.6K$833K
+28.0%

Summary: Buffalo Grove housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 28%.

Median Sold Price Compared To Nearby Cities

Riverwoods
+18.9%
Vernon Township
+10.6%
Lincolnshire
+10.6%
Buffalo Grove
+9.6%
Wheeling
+3.1%

Housing Supply in Buffalo Grove, IL

How many homes are available in Buffalo Grove, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
167137-18.0%

Summary: The Buffalo Grove real estate market had 137 homes for sale in September 2024, a 18.0% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 105
-50.0%
2 4743
-8.5%
3 6049
-18.3%
4 4134
-17.1%
5+ 96
-33.3%

Summary: The Buffalo Grove housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 8.5%, 3 bedroom homes decreased by 18.3%, 4 bedroom homes decreased by 17.1%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
7046-34.3%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

16 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. 43.5% of homes here sold below asking price last month.

Summary: A total of 46 homes were sold or pending in Buffalo Grove in September 2024, down by 34.3% month-over-month. Of the 46 sold homes, 43% were sold under asking, 22% were sold at asking, and 35% 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

Sep 2023Sep 2024CHANGE
14 Days20 Days+43.6%

Summary: Homes in Buffalo Grove had an average of 20 days on market in Sep 2024, up by 43.6% compared to last year.

Breakdown of Home Sale Times

37 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 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.

Summary: During September 2024, 46 homes were sold in Buffalo Grove; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% 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 9 Days Ago

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