Is Elmwood Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Elmwood Park has remained a Seller's Market.
Housing Prices in Elmwood Park, IL
How much do homes in Elmwood Park, IL cost?
Median Sold Price
$355,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Elmwood Park was $355,000 in June 2024, up 12.7% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $130.5K | +18.6% |
2 Bedrooms | $217.5K | $203K | -6.7% |
3 Bedrooms | $332K | $379.4K | +14.3% |
4 Bedrooms | $372.5K | $402K | +7.9% |
5+ Bedrooms | $499.9K | $510K | +2.0% |
Summary: Elmwood Park housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.6%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
River Forest Township | $482K | $560K | +16.2% |
River Forest | $482K | $560K | +16.2% |
Elmwood Park | $315K | $355K | +12.7% |
Leyden Township | $285.1K | $308.9K | +8.4% |
River Grove | $260K | $273K | +5.0% |
Housing Supply in Elmwood Park, IL
How many homes are available in Elmwood Park, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
91 | 114 | +25.3% |
Summary: The Elmwood Park real estate market had 114 homes for sale in June 2024, a 25.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 13 | 14 | +7.7% |
2 Bedrooms | 19 | 26 | +36.8% |
3 Bedrooms | 23 | 33 | +43.5% |
4 Bedrooms | 29 | 33 | +13.8% |
5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Elmwood Park housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 36.8%, 3 bedroom homes increased by 43.5%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
21 | 21 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Elmwood Park in June 2024, the same as the previous month. Of the 21 sold homes, 38% were sold under asking, 19% were sold at asking, and 43% were sold over asking.
Days on Market for Elmwood Park, IL
How long does it take to sell a home in Elmwood Park, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
26 Days | 24 Days | -7.3% |
Summary: Homes in Elmwood Park had an average of 24 days on market in Jun 2024, down by 7.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During June 2024, 21 homes were sold in Elmwood Park; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.