Is Ela 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, Ela Township has remained a Seller's Market.
Housing Prices in Ela Township, IL
How much do homes in Ela Township, IL cost?
Median Sold Price
$543,136
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Ela Township was $543,136 in March 2024, up 0.4% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | - | N/A |
2 Bedrooms | $257K | $255K | -0.8% |
3 Bedrooms | $380K | $412.5K | +8.6% |
4 Bedrooms | $610K | $614.1K | +0.7% |
5+ Bedrooms | $726.5K | $775K | +6.7% |
Summary: Ela Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 6.7%.
Median Sold Price Compared To Nearby Cities
Kildeer | $725K | $910K | +25.5% |
Lake Zurich | $377K | $412K | +9.3% |
Long Grove | $760K | $802.2K | +5.6% |
Ela Township | $540.7K | $543.1K | 0.4% |
Deer Park | $553K | $545K | -1.4% |
Housing Supply in Ela Township, IL
How many homes are available in Ela Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
110 | 137 | +24.5% |
Summary: The Ela Township real estate market had 137 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 | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 11 | +10.0% |
3 Bedrooms | 33 | 40 | +21.2% |
4 Bedrooms | 47 | 61 | +29.8% |
5+ Bedrooms | 20 | 25 | +25.0% |
Summary: The Ela Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 21.2%, 4 bedroom homes increased by 29.8%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 35 | +52.2% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Ela Township in March 2024, up by 52.2% month-over-month. Of the 35 sold homes, 34% were sold under asking, 17% were sold at asking, and 49% were sold over asking.
Days on Market for Ela Township, IL
How long does it take to sell a home in Ela Township, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 30 Days | -5.3% |
Summary: Homes in Ela Township had an average of 30 days on market in Mar 2024, down by 5.3% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 35 homes were sold in Ela Township; 83% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.