Is Downers 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, Downers Grove has remained a Seller's Market.
Housing Prices in Downers Grove, IL
How much do homes in Downers Grove, IL cost?
Median Sold Price
$427,000
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Downers Grove was $427,000 in March 2024, up 4.1% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $150K | +15.4% |
2 Bedrooms | $200K | $209.5K | +4.8% |
3 Bedrooms | $390K | $407K | +4.4% |
4 Bedrooms | $507K | $615K | +21.3% |
5+ Bedrooms | $716K | $910K | +27.1% |
Summary: Downers Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.4%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 27.1%.
Housing Supply in Downers Grove, IL
How many homes are available in Downers Grove, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
151 | 188 | +24.5% |
Summary: The Downers Grove real estate market had 188 homes for sale in March 2024, a 24.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 7 | +75.0% |
2 Bedrooms | 34 | 37 | +8.8% |
3 Bedrooms | 44 | 57 | +29.5% |
4 Bedrooms | 53 | 64 | +20.8% |
5+ Bedrooms | 16 | 23 | +43.8% |
Summary: The Downers Grove housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 29.5%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 43.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
30 | 45 | +50.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Downers Grove in March 2024, up by 50.0% month-over-month. Of the 45 sold homes, 40% were sold under asking, 16% were sold at asking, and 44% were sold over asking.
Days on Market for Downers Grove, IL
How long does it take to sell a home in Downers Grove, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
47 Days | 23 Days | -50.8% |
Summary: Homes in Downers Grove had an average of 23 days on market in Mar 2024, down by 50.8% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 45 homes were sold in Downers Grove; 82% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.