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 March 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
$344,488
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Elk Grove Township was $344,488 in March 2024, up 16.6% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $145K | +11.5% |
2 Bedrooms | $190K | $217.5K | +14.5% |
3 Bedrooms | $344.6K | $374.9K | +8.8% |
4 Bedrooms | $445K | $459.9K | +3.4% |
5+ Bedrooms | $477.5K | $540K | +13.1% |
Summary: Elk Grove Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 13.1%.
Median Sold Price Compared To Nearby Cities
Elk Grove Township | $295.4K | $344.4K | +16.6% |
Elk Grove Village | $310.7K | $339.5K | +9.3% |
Mount Prospect | $352.2K | $380.2K | +7.9% |
Itasca | $365K | $385K | +5.5% |
Wood Dale | $310K | $315K | +1.6% |
Housing Supply in Elk Grove Township, IL
How many homes are available in Elk Grove Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
184 | 203 | +10.3% |
Summary: The Elk Grove Township real estate market had 203 homes for sale in March 2024, a 10.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 15 | 16 | +6.7% |
2 Bedrooms | 52 | 64 | +23.1% |
3 Bedrooms | 77 | 80 | +3.9% |
4 Bedrooms | 27 | 32 | +18.5% |
5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The Elk Grove Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
56 | 62 | +10.7% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Summary: A total of 62 homes were sold or pending in Elk Grove Township in March 2024, up by 10.7% month-over-month. Of the 61 sold homes, 36% were sold under asking, 18% were sold at asking, and 46% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 24 Days | -14.5% |
Summary: Homes in Elk Grove Township had an average of 24 days on market in Mar 2024, down by 14.5% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 62 homes were sold in Elk Grove Township; 76% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.