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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elk Grove Village is a seller's market

Buyer's
Market

Difference Since December 2020

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

Key Takeaway

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

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

Median Sold Price

$280,000

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2020

+$25,000(+9.8%)

Key Takeaway

Homes in Elk Grove Village have sold for 9.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2020Dec 2021%
1 $115.5K$116.5K
+0.9%
2 $185K$196K
+5.9%
3 $270K$295.7K
+9.5%
4 $333K$375.5K
+12.8%
5+ $375K$430K
+14.7%

Median Sold Price Compared To Nearby Cities

Addison Township
+16.9%
Wood Dale
+14.2%
Itasca
+13.8%
Elk Grove Village
+9.8%
Elk Grove Township
+5.9%

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

Number of Homes For Sale

Nov 2021Dec 2021%
148126-14.9%

Homes For Sale By Bedroom Count

# BEDSNov 2021Dec 2021%
1 75
-28.6%
2 4642
-8.7%
3 5240
-23.1%
4 3835
-7.9%
5+ 54
-20.0%

Number of Homes Sold

Nov 2021Dec 2021%
3841+7.9%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elk Grove Village, you may be able to get a good deal. 51.2% of homes here sold below asking price last month.

Average Sale Time

Dec 2020Dec 2021%
34 Days20 Days-39.3%

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

13 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 Village are selling fast, if you're buying plan to act quickly.

About Elk Grove Village, IL

Homes for sale in Elk Grove Village, IL have reached 126. The number of listings in Elk Grove Village, IL decreased by 14.9% between November 2021 and December 2021. While the average time on the market in December 2021 was 20 days, the median list price was $280,000. Listing prices have changed in this real estate market between November 2021 and December 2021: 1 bedroom properties prices increased by 0.9%, 2 bedrooms properties became 5.9% more expensive, 3 bedrooms properties became 9.5% more expensive, prices of 4 bedrooms properties went up by 12.8%, prices of 5 bedrooms properties went up by 14.7%. Housing inventory have changed in this real estate market: 1 bedroom homes became 28.6% less available, number of 2 bedrooms homes decreased by 8.7%, the quantity of 3 bedrooms homes went down by 23.1%, 4 bedrooms homes became 7.9% less available, number of 5 bedrooms homes decreased by 20%. In December 2021, from all listings sold in Elk Grove Village, IL there were more than 12 sold above asking price, over 21 sold below and more than 8 were sold right at the asked price.

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