Is Elk Grove Township, 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, Elk Grove Township has remained a Seller's Market.
Housing Prices in Elk Grove Township, IL
How much do homes in Elk Grove Township, IL cost?
Median Sold Price
$347,056
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Elk Grove Township was $347,056 in June 2024, up 10.2% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $154.9K | +19.2% |
2 Bedrooms | $195.5K | $235K | +20.2% |
3 Bedrooms | $349.1K | $382.3K | +9.5% |
4 Bedrooms | $446.7K | $466.5K | +4.4% |
5+ Bedrooms | $468.5K | $562K | +20.0% |
Summary: Elk Grove Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.2%, 2 bedroom homes increased by 20.2%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 20%.
Median Sold Price Compared To Nearby Cities
Elk Grove Township | $315K | $347K | +10.2% |
Wood Dale | $310K | $331K | +6.8% |
Elk Grove Village | $320K | $341.3K | +6.7% |
Mount Prospect | $361K | $380K | +5.3% |
Itasca | $369.9K | $385K | +4.1% |
Housing Supply in Elk Grove Township, IL
How many homes are available in Elk Grove Township, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
234 | 262 | +12.0% |
Summary: The Elk Grove Township real estate market had 262 homes for sale in June 2024, a 12.0% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 21 | +10.5% |
2 Bedrooms | 74 | 83 | +12.2% |
3 Bedrooms | 88 | 94 | +6.8% |
4 Bedrooms | 43 | 54 | +25.6% |
5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Elk Grove Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 25.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
79 | 77 | -2.5% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 77 homes were sold or pending in Elk Grove Township in June 2024, down by 2.5% month-over-month. Of the 77 sold homes, 30% were sold under asking, 19% were sold at asking, and 51% were sold over asking.
Days on Market for Elk Grove Township, IL
How long does it take to sell a home in Elk Grove Township, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
9 Days | 14 Days | +55.8% |
Summary: Homes in Elk Grove Township had an average of 14 days on market in Jun 2024, up by 55.8% compared to last year.
Breakdown of Home Sale Times
68 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 77 homes were sold in Elk Grove Township; 88% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.