Is Burr Ridge, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burr Ridge is a seller's market

Buyer's
Market

Difference Since September 2021

At the same time last year, Burr Ridge was a Neutral Market.

Key Takeaway

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

How much do homes in Burr Ridge, IL cost?

Median Sold Price

$772,000

$220/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$137,000(+21.6%)

Key Takeaway

Homes in Burr Ridge have sold for 21.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $315K$364K
+15.6%
2 $417.5K$410K
-1.8%
3 $553.2K$550K
-0.6%
4 $691.5K$784K
+13.4%
5+ $1.1M$1.1M
-0.2%

Median Sold Price Compared To Nearby Cities

Burr Ridge
+21.6%
Willow Springs
+8.7%
Indian Head Park
+4.5%
Downers Grove Township
+2.8%
Willowbrook
-6.5%

How many homes are available in Burr Ridge, IL?

Number of Homes For Sale

Aug 2022Sep 2022%
7186+21.1%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 12
+100.0%
2 99
0.0%
3 1415
+7.1%
4 2533
+32.0%
5+ 2227
+22.7%

Number of Homes Sold

Aug 2022Sep 2022%
1518+20.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burr Ridge, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
31 Days42 Days+35.4%

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Burr Ridge 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 Burr Ridge, IL

There are 86 homes are for sale in Burr Ridge, IL real estate market. The number of homes for sale in Burr Ridge, IL increased by 21.1% between August 2022 and September 2022. The median list price of listings available in September 2022 was $772,000, while the average time on the real estate market was 42 days. Between August 2022 and September 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties increased by 15.6%, prices of 2 bedrooms properties went down by 1.8%, the cost of 3 bedrooms properties went down by 0.6%, the cost of 4 bedrooms properties went up by 13.4%, the cost of 5 bedrooms properties went down by 0.2%. Volume of homes for sale changed: volume of 1 bedroom homes went up by 100%, volume of 2 bedrooms homes stayed the same, 3 bedrooms homes inventory increased by 7.1%, the quantity of 4 bedrooms homes went up by 32%, the quantity of 5 bedrooms homes went up by 22.7%. Over 3 listings were sold over their listed price in September 2022 in Burr Ridge, IL. In the same period over 12 listings were sold below the listed price and 3 listings were sold for the listed price.

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