Is Burr Ridge, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Burr Ridge has remained a Seller's Market.
Housing Prices in Burr Ridge, IL
How much do homes in Burr Ridge, IL cost?
Median Sold Price
$750,000
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Burr Ridge was $750,000 in June 2024, up 13.6% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $357K | $385K | +7.8% |
2 Bedrooms | $440.5K | $520K | +18.0% |
3 Bedrooms | $462.5K | $567.5K | +22.7% |
4 Bedrooms | $715K | $899K | +25.7% |
5+ Bedrooms | $1.1M | $1.3M | +15.2% |
Summary: Burr Ridge housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 22.7%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes increased by 15.2%.
Median Sold Price Compared To Nearby Cities
Burr Ridge | $660K | $750K | +13.6% |
Downers Grove Township | $396.7K | $440.6K | +11.1% |
Indian Head Park | $335K | $367.5K | +9.7% |
Willowbrook | $275K | $295K | +7.3% |
Willow Springs | $347.5K | $355.2K | +2.2% |
Housing Supply in Burr Ridge, IL
How many homes are available in Burr Ridge, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
70 | 81 | +15.7% |
Summary: The Burr Ridge real estate market had 81 homes for sale in June 2024, a 15.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 10 | 9 | -10.0% |
3 Bedrooms | 15 | 17 | +13.3% |
4 Bedrooms | 21 | 27 | +28.6% |
5+ Bedrooms | 23 | 28 | +21.7% |
Summary: The Burr Ridge housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 21.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
13 | 19 | +46.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Burr Ridge in June 2024, up by 46.2% month-over-month. Of the 19 sold homes, 58% were sold under asking, 5% were sold at asking, and 37% were sold over asking.
Days on Market for Burr Ridge, IL
How long does it take to sell a home in Burr Ridge, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
23 Days | 22 Days | -2.4% |
Summary: Homes in Burr Ridge had an average of 22 days on market in Jun 2024, down by 2.4% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During June 2024, 19 homes were sold in Burr Ridge; 89% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.