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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elm Grove Township is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Elm Grove Township, IL

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

Median Sold Price

$234,500

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$32,500(+16.1%)

Key Takeaway

Homes in Elm Grove Township have sold for 16.1% more than they did a year ago.

Summary: The median home sold price in Elm Grove Township was $234,500 in September 2024, up 16.1% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$55K
N/A
2 $100K$105K
+5.0%
3 $177.5K$230K
+29.6%
4 $228.5K$239K
+4.6%
5+ $289.9K$287.5K
-0.8%

Summary: Elm Grove Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 29.6%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes decreased by 0.8%.

Median Sold Price Compared To Nearby Cities

Elm Grove Township
+16.1%
Pekin Township
+9.2%
Pekin
+4.2%
Groveland
-2.3%
Tremont
-11.5%

Housing Supply in Elm Grove Township, IL

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

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
710+42.9%

Summary: The Elm Grove Township real estate market had 10 homes for sale in September 2024, a 42.9% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 23
+50.0%
4 22
0.0%
5+ 12
+100.0%

Summary: The Elm Grove Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elm Grove Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Elm Grove Township in September 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Elm Grove Township, IL

How long does it take to sell a home in Elm Grove Township, IL?

Average Sale Time

Sep 2023Sep 2024CHANGE
9 Days35 Days+288.9%

Summary: Homes in Elm Grove Township had an average of 35 days on market in Sep 2024, up by 288.9% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 2 homes were sold in Elm Grove Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 9 Days Ago

Newest Listings in Elm Grove Township, IL

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What housing markets are near Elm Grove Township, IL?