Is Elk Grove Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elk Grove Township is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Elk Grove Township has remained a Seller's Market.

Key Takeaway

Elk Grove Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Elk Grove Township, IL cost?

Median Sold Price

$285,000

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$6,943(+2.5%)

Key Takeaway

Homes in Elk Grove Township have sold for 2.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $108K$121.2K
+12.3%
2 $162.5K$175K
+7.6%
3 $309.5K$334.9K
+8.2%
4 $400K$429K
+7.2%
5+ $472K$527.5K
+11.8%

Median Sold Price Compared To Nearby Cities

Elk Grove Village
+11.1%
Mount Prospect
+6.0%
Itasca
+4.4%
Elk Grove Township
+2.5%
Wood Dale
-0.4%

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

Number of Homes For Sale

Jul 2022Aug 2022%
381385+1.0%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 4241
-2.4%
2 10091
-9.0%
3 149152
+2.0%
4 7481
+9.5%
5+ 1620
+25.0%

Number of Homes Sold

Jul 2022Aug 2022%
108117+8.3%

Asking Price vs. Sold Price

62 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

34 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elk Grove Township, you may be able to get a good deal. 53% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
18 Days14 Days-20.0%

Breakdown of Home Sale Times

99 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Elk Grove Township are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Elk Grove Township, IL

Elk Grove Township, IL has 385 homes for sale to choose from. The number of homes for sale in Elk Grove Township, IL increased by 1% between July 2022 and August 2022. Listings spent 14 days on the market in August 2022, and had a median list price of $285,000 during the same period. Real estate listing prices changed between July 2022 and August 2022: 1 bedroom properties prices increased by 12.3%, 2 bedrooms properties became 7.6% more expensive, the cost of 3 bedrooms properties went up by 8.2%, prices of 4 bedrooms properties increased by 7.2%, 5 bedrooms properties became 11.8% more expensive. This housing market inventory have changed: 1 bedroom homes inventory decreased by 2.4%, volume of 2 bedrooms homes went down by 9%, 3 bedrooms homes became 2% more available, 4 bedrooms homes inventory increased by 9.5%, 5 bedrooms homes inventory increased by 25%. In August 2022, from all listings sold in Elk Grove Township, IL there were more than 34 sold above asking price, over 62 sold below and more than 21 were sold right at the asked price.

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