Is Downers Grove Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Downers Grove Township is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Downers Grove Township has remained a Seller's Market.

Key Takeaway

Downers Grove Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Downers Grove Township, IL

How much do homes in Downers Grove Township, IL cost?

Median Sold Price

$426,402

$228/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$21,344(+5.3%)

Key Takeaway

Homes in Downers Grove Township have sold for 5.3% more than they did a year ago.

Summary: The median home sold price in Downers Grove Township was $426,402 in April 2024, up 5.3% from last year, and the median price per square foot was $228.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $125.3K$140.5K
+12.1%
2 $235K$250K
+6.4%
3 $380K$405K
+6.6%
4 $615K$641.7K
+4.4%
5+ $1.1M$1.2M
+6.6%

Summary: Downers Grove Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.1%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 6.6%.

Median Sold Price Compared To Nearby Cities

Darien
+14.9%
Willowbrook
+13.2%
Downers Grove Township
+5.3%
Clarendon Hills
-0.9%
Burr Ridge
-5.9%

Housing Supply in Downers Grove Township, IL

How many homes are available in Downers Grove Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
517624+20.7%

Summary: The Downers Grove Township real estate market had 624 homes for sale in April 2024, a 20.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1317
+30.8%
2 107123
+15.0%
3 152192
+26.3%
4 167197
+18.0%
5+ 7895
+21.8%

Summary: The Downers Grove Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 30.8%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 26.3%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 21.8%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
136173+27.2%

Asking Price vs. Sold Price

57 Homes Were Sold
Under Asking

36 Homes Were Sold
At Asking

80 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Downers Grove Township, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 173 homes were sold or pending in Downers Grove Township in April 2024, up by 27.2% month-over-month. Of the 173 sold homes, 33% were sold under asking, 21% were sold at asking, and 46% were sold over asking.

Days on Market for Downers Grove Township, IL

How long does it take to sell a home in Downers Grove Township, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
23 Days20 Days-12.2%

Summary: Homes in Downers Grove Township had an average of 20 days on market in Apr 2024, down by 12.2% compared to last year.

Breakdown of Home Sale Times

148 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

12 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Downers Grove Township are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 173 homes were sold in Downers Grove Township; 86% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

Newest Listings in Downers Grove Township, IL

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