Is Buffalo Grove, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$383,546
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Buffalo Grove was $383,546 in April 2024, up 7.7% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $143.5K | +14.8% |
2 Bedrooms | $232.5K | $247K | +6.2% |
3 Bedrooms | $370K | $392.3K | +6.0% |
4 Bedrooms | $502.4K | $537.5K | +7.0% |
5+ Bedrooms | $650K | $667K | +2.6% |
Summary: Buffalo Grove housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Cities
Buffalo Grove | $356K | $383.5K | +7.7% |
Riverwoods | $735K | $777.5K | +5.8% |
Vernon Township | $459.7K | $483.3K | +5.1% |
Wheeling | $260K | $273.2K | +5.1% |
Lincolnshire | $635.4K | $599.9K | -5.6% |
Housing Supply in Buffalo Grove, IL
How many homes are available in Buffalo Grove, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
142 | 162 | +14.1% |
Summary: The Buffalo Grove real estate market had 162 homes for sale in April 2024, a 14.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 8 | +33.3% |
2 Bedrooms | 44 | 51 | +15.9% |
3 Bedrooms | 51 | 59 | +15.7% |
4 Bedrooms | 36 | 38 | +5.6% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Buffalo Grove housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
46 | 55 | +19.6% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 55 homes were sold or pending in Buffalo Grove in April 2024, up by 19.6% month-over-month. Of the 55 sold homes, 33% were sold under asking, 15% were sold at asking, and 53% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
13 Days | 20 Days | +52.4% |
Summary: Homes in Buffalo Grove had an average of 20 days on market in Apr 2024, up by 52.4% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 55 homes were sold in Buffalo Grove; 84% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.