Is Downers Grove, 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, 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
$440,303
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Downers Grove was $440,303 in June 2024, up 7.4% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $134K | $165K | +23.1% |
2 Bedrooms | $195K | $223K | +14.4% |
3 Bedrooms | $395K | $420K | +6.3% |
4 Bedrooms | $537.5K | $620K | +15.3% |
5+ Bedrooms | $875K | $790K | -9.7% |
Summary: Downers Grove housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.1%, 2 bedroom homes increased by 14.4%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes decreased by 9.7%.
Housing Supply in Downers Grove, IL
How many homes are available in Downers Grove, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
246 | 255 | +3.7% |
Summary: The Downers Grove real estate market had 255 homes for sale in June 2024, a 3.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 13 | +44.4% |
2 Bedrooms | 46 | 52 | +13.0% |
3 Bedrooms | 84 | 77 | -8.3% |
4 Bedrooms | 80 | 86 | +7.5% |
5+ Bedrooms | 27 | 27 | 0.0% |
Summary: The Downers Grove housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 44.4%, 2 bedroom homes increased by 13%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
81 | 82 | +1.2% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Summary: A total of 82 homes were sold or pending in Downers Grove in June 2024, up by 1.2% month-over-month. Of the 82 sold homes, 34% were sold under asking, 15% were sold at asking, and 51% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
20 Days | 10 Days | -47.0% |
Summary: Homes in Downers Grove had an average of 10 days on market in Jun 2024, down by 47% compared to last year.
Breakdown of Home Sale Times
76 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 82 homes were sold in Downers Grove; 93% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.