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 March 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

$420,875

$226/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$16,021(+4.0%)

Key Takeaway

Homes in Downers Grove Township have sold for 4% more than they did a year ago.

Summary: The median home sold price in Downers Grove Township was $420,875 in March 2024, up 4% from last year, and the median price per square foot was $226.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $125K$140K
+12.0%
2 $236.1K$242.5K
+2.7%
3 $382K$400K
+4.7%
4 $615K$640K
+4.1%
5+ $1.1M$1.2M
+5.2%

Summary: Downers Grove Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 5.2%.

Median Sold Price Compared To Nearby Cities

Willowbrook
+16.3%
Darien
+13.7%
Clarendon Hills
+4.2%
Downers Grove Township
+4.0%
Burr Ridge
-12.9%

Housing Supply in Downers Grove Township, IL

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

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
415524+26.3%

Summary: The Downers Grove Township real estate market had 524 homes for sale in March 2024, a 26.3% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1115
+36.4%
2 87107
+23.0%
3 122154
+26.2%
4 135170
+25.9%
5+ 6078
+30.0%

Summary: The Downers Grove Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 36.4%, 2 bedroom homes increased by 23%, 3 bedroom homes increased by 26.2%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes increased by 30%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
90127+41.1%

Asking Price vs. Sold Price

64 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

47 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Downers Grove Township, you may be able to get a good deal. 50.4% of homes here sold below asking price last month.

Summary: A total of 127 homes were sold or pending in Downers Grove Township in March 2024, up by 41.1% month-over-month. Of the 127 sold homes, 50% were sold under asking, 13% were sold at asking, and 37% 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

Mar 2023Mar 2024CHANGE
38 Days29 Days-24.6%

Summary: Homes in Downers Grove Township had an average of 29 days on market in Mar 2024, down by 24.6% compared to last year.

Breakdown of Home Sale Times

93 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

16 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 March 2024, 127 homes were sold in Downers Grove Township; 73% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 13% 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 23 Days Ago

Newest Listings in Downers Grove Township, IL

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