Is Elmwood Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elmwood Park is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Elmwood Park has remained a Seller's Market.

Key Takeaway

Elmwood Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Elmwood Park, IL cost?

Median Sold Price

$313,666

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$17,586(+5.9%)

Key Takeaway

Homes in Elmwood Park have sold for 5.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $99.9K$107K
+7.1%
2 $200K$185K
-7.5%
3 $326.7K$339K
+3.7%
4 $335K$380K
+13.4%
5+ $442K$479K
+8.4%

Median Sold Price Compared To Nearby Cities

Elmwood Park
+5.9%
Leyden Township
+2.6%
River Grove
-0.4%
River Forest Township
-4.6%
River Forest
-4.6%

How many homes are available in Elmwood Park, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
104115+10.6%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 1212
0.0%
2 2729
+7.4%
3 3940
+2.6%
4 1320
+53.8%
5+ 1314
+7.7%

Number of Homes Sold

Oct 2022Nov 2022%
1820+11.1%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elmwood Park, you may be able to get a good deal. 55% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
26 Days33 Days+28.4%

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Elmwood Park 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 Elmwood Park, IL

Homes for sale in Elmwood Park, IL have reached 115. The number of listings in Elmwood Park, IL increased by 10.6% between October 2022 and November 2022. In November 2022 median list price was $313,666 and the average listing age was 33 days. This housing market listing prices have changed between October 2022 and November 2022: prices of 1 bedroom properties increased by 7.1%, 2 bedrooms properties prices decreased by 7.5%, 3 bedrooms properties became 3.7% more expensive, prices of 4 bedrooms properties went up by 13.4%, 5 bedrooms properties became 8.4% more expensive. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, the quantity of 2 bedrooms homes went up by 7.4%, number of 3 bedrooms homes increased by 2.6%, 4 bedrooms homes became 53.8% more available, 5 bedrooms homes inventory increased by 7.7%. In November 2022 more than 4 listings in Elmwood Park, IL were sold above the asking price. During the same period more than 5 listings were sold at asking price, while more than 11 were sold below.

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