Is Long Grove, 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, Long Grove has remained a Seller's Market.
Housing Prices in Long Grove, IL
How much do homes in Long Grove, IL cost?
Median Sold Price
$802,223
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Long Grove was $802,223 in March 2024, up 5.6% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $502.5K | $1.3M | +168.7% |
3 Bedrooms | $605K | $635K | +5.0% |
4 Bedrooms | $754.9K | $828K | +9.7% |
5+ Bedrooms | $895K | $860K | -3.9% |
Summary: Long Grove housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 168.7%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 3.9%.
Median Sold Price Compared To Nearby Cities
Kildeer | $725K | $910K | +25.5% |
Vernon Hills | $376K | $400K | +6.4% |
Long Grove | $760K | $802.2K | +5.6% |
Vernon Township | $459.8K | $474.6K | +3.2% |
Ela Township | $540.7K | $543.1K | 0.4% |
Housing Supply in Long Grove, IL
How many homes are available in Long Grove, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 29 | +7.4% |
Summary: The Long Grove real estate market had 29 homes for sale in March 2024, a 7.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 4 | 2 | -50.0% |
4 Bedrooms | 9 | 11 | +22.2% |
5+ Bedrooms | 9 | 11 | +22.2% |
Summary: The Long Grove housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 22.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
7 | 7 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Long Grove in March 2024, the same as the previous month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Long Grove, IL
How long does it take to sell a home in Long Grove, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
22 Days | 22 Days | -1.3% |
Summary: Homes in Long Grove had an average of 22 days on market in Mar 2024, down by 1.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Long Grove; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.