Is Long Grove, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Long Grove was a Buyer's Market.
Housing Prices in Long Grove, IL
How much do homes in Long Grove, IL cost?
Median Sold Price
$802,223
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Long Grove was $802,223 in February 2024, up 7% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $485K | $1.3M | +178.4% |
3 Bedrooms | $620K | $613.7K | -1.0% |
4 Bedrooms | $749K | $836.1K | +11.6% |
5+ Bedrooms | $895K | $853K | -4.7% |
Summary: Long Grove housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 178.4%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes decreased by 4.7%.
Median Sold Price Compared To Nearby Cities
Kildeer | $721K | $910K | +26.2% |
Long Grove | $750K | $802.2K | +7.0% |
Vernon Hills | $375K | $397K | +5.8% |
Vernon Township | $459.7K | $467K | +1.6% |
Ela Township | $542.8K | $545.5K | 0.5% |
Housing Supply in Long Grove, IL
How many homes are available in Long Grove, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
21 | 29 | +38.1% |
Summary: The Long Grove real estate market had 29 homes for sale in February 2024, a 38.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 4 | 4 | 0.0% |
4 Bedrooms | 4 | 10 | +150.0% |
5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Long Grove housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 150%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
3 | 7 | +133.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 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 February 2024, up by 133.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
1 Days | 30 Days | +1957.1% |
Summary: Homes in Long Grove had an average of 30 days on market in Feb 2024, up by 1957.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 7 homes were sold in Long Grove; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.