Is Downers Grove Township, 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 Township has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $140K | +12.0% |
2 Bedrooms | $236.1K | $242.5K | +2.7% |
3 Bedrooms | $382K | $400K | +4.7% |
4 Bedrooms | $615K | $640K | +4.1% |
5+ Bedrooms | $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 | $260K | $302.5K | +16.3% |
Darien | $340K | $386.5K | +13.7% |
Clarendon Hills | $575K | $599K | +4.2% |
Downers Grove Township | $404.8K | $420.8K | +4.0% |
Burr Ridge | $735K | $640.3K | -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 2024 | Mar 2024 | CHANGE |
---|---|---|
415 | 524 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 15 | +36.4% |
2 Bedrooms | 87 | 107 | +23.0% |
3 Bedrooms | 122 | 154 | +26.2% |
4 Bedrooms | 135 | 170 | +25.9% |
5+ Bedrooms | 60 | 78 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
90 | 127 | +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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 29 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
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.