Is Long Grove, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Long Grove is a seller's market

Buyer's
Market

Difference Since January 2022

Since last year, Long Grove has remained a Seller's Market.

Key Takeaway

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

How much do homes in Long Grove, IL cost?

Median Sold Price

$750,000

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$35,000(+4.9%)

Key Takeaway

Homes in Long Grove have sold for 4.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 --
N/A
2 $495K$485K
-2.0%
3 $580K$620K
+6.9%
4 $700K$744.5K
+6.4%
5+ $859.5K$855.7K
-0.4%

Median Sold Price Compared To Nearby Cities

Vernon Township
+11.4%
Kildeer
+11.2%
Vernon Hills
+8.7%
Ela Township
+8.5%
Long Grove
+4.9%

How many homes are available in Long Grove, IL?

Number of Homes For Sale

Dec 2022Jan 2023%
2122+4.8%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 00
0.0%
2 11
0.0%
3 57
+40.0%
4 96
-33.3%
5+ 68
+33.3%

Number of Homes Sold

Dec 2022Jan 2023%
96-33.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Long Grove, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
5 Days14 Days+152.9%

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Long Grove 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 Long Grove, IL

Homes for sale in Long Grove, IL have reached 22. Between December 2022 and January 2023, Long Grove, IL real estate market has seen increase in the number of listings by 4.8%. The median list price of listings available in January 2023 was $750,000, while the average time on the real estate market was 14 days. From December 2022 through January 2023, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 0% more expensive, the cost of 2 bedrooms properties went down by 2%, the cost of 3 bedrooms properties went up by 6.9%, prices of 4 bedrooms properties went up by 6.4%, the cost of 5 bedrooms properties went down by 0.4%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes did not move, 2 bedrooms homes did not move, the quantity of 3 bedrooms homes went up by 40%, volume of 4 bedrooms homes went down by 33.3%, volume of 5 bedrooms homes went up by 33.3%. Over 1 listings were sold over their listed price in January 2023 in Long Grove, IL. In the same period over 5 listings were sold below the listed price and 0 listings were sold for the listed price.

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