Is Elmwood Park, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$350,666
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Elmwood Park was $350,666 in March 2024, up 15% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $119.3K | +8.5% |
2 Bedrooms | $193K | $211K | +9.3% |
3 Bedrooms | $332K | $376K | +13.3% |
4 Bedrooms | $360K | $410K | +13.9% |
5+ Bedrooms | $475K | $510K | +7.4% |
Summary: Elmwood Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 7.4%.
Median Sold Price Compared To Nearby Cities
Elmwood Park | $305K | $350.6K | +15.0% |
Leyden Township | $280K | $304.7K | +8.8% |
River Grove | $260K | $273K | +5.0% |
River Forest Township | $520K | $495K | -4.8% |
River Forest | $520K | $495K | -4.8% |
Housing Supply in Elmwood Park, IL
How many homes are available in Elmwood Park, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
86 | 99 | +15.1% |
Summary: The Elmwood Park real estate market had 99 homes for sale in March 2024, a 15.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 17 | +21.4% |
2 Bedrooms | 16 | 16 | 0.0% |
3 Bedrooms | 26 | 29 | +11.5% |
4 Bedrooms | 21 | 24 | +14.3% |
5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The Elmwood Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.4%, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 26 | +44.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Elmwood Park in March 2024, up by 44.4% month-over-month. Of the 26 sold homes, 38% were sold under asking, 19% were sold at asking, and 42% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 38 Days | -8.3% |
Summary: Homes in Elmwood Park had an average of 38 days on market in Mar 2024, down by 8.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 26 homes were sold in Elmwood Park; 58% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.