Is La Grange, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing La Grange is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, La Grange has remained a Seller's Market.

Key Takeaway

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

Housing Prices in La Grange, IL

How much do homes in La Grange, IL cost?

Median Sold Price

$532,500

$276/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$12,500(-2.3%)

Key Takeaway

Homes in La Grange have sold for 2.3% less than they did a year ago.

Summary: The median home sold price in La Grange was $532,500 in May 2024, down 2.3% from last year, and the median price per square foot was $276.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $165K$186K
+12.7%
2 $225K$295.5K
+31.3%
3 $475K$535.7K
+12.8%
4 $767.5K$769.5K
0.3%
5+ $950K$884.1K
-6.9%

Summary: La Grange housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 31.3%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 6.9%.

Median Sold Price Compared To Nearby Cities

Brookfield
+11.1%
La Grange Park
-1.7%
La Grange
-2.3%
Countryside
-2.8%

Housing Supply in La Grange, IL

How many homes are available in La Grange, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6681+22.7%

Summary: The La Grange real estate market had 81 homes for sale in May 2024, a 22.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 54
-20.0%
2 139
-30.8%
3 1424
+71.4%
4 2231
+40.9%
5+ 1213
+8.3%

Summary: The La Grange housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 40.9%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2622-15.4%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in La Grange, you could pay more than the asking price. 63.6% of homes here sold above asking price last month.

Summary: A total of 22 homes were sold or pending in La Grange in May 2024, down by 15.4% month-over-month. Of the 22 sold homes, 27% were sold under asking, 9% were sold at asking, and 64% were sold over asking.

Days on Market for La Grange, IL

How long does it take to sell a home in La Grange, IL?

Average Sale Time

May 2023May 2024CHANGE
35 Days14 Days-58.0%

Summary: Homes in La Grange had an average of 14 days on market in May 2024, down by 58% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in La Grange are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 22 homes were sold in La Grange; 82% of homes were sold within 30 days, 18% 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 18 Days Ago

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