Is Prairie Grove, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Prairie Grove was a Neutral Market.
Housing Prices in Prairie Grove, IL
How much do homes in Prairie Grove, IL cost?
Median Sold Price
$492,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Prairie Grove was $492,500 in March 2024, down 0.4% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $344.9K | $242K | -29.8% |
3 Bedrooms | $412.4K | $283K | -31.4% |
4 Bedrooms | $545.6K | $594K | +8.9% |
5+ Bedrooms | $632K | $624.5K | -1.2% |
Summary: Prairie 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 decreased by 29.8%, 3 bedroom homes decreased by 31.4%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes decreased by 1.2%.
Median Sold Price Compared To Nearby Cities
Crystal Lake | $285K | $345.5K | +21.3% |
Oakwood Hills | $290K | $322.5K | +11.2% |
Nunda Township | $308.5K | $329K | +6.7% |
McHenry | $254.5K | $265K | +4.1% |
Prairie Grove | $494.3K | $492.5K | -0.4% |
Housing Supply in Prairie Grove, IL
How many homes are available in Prairie Grove, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 9 | +12.5% |
Summary: The Prairie Grove real estate market had 9 homes for sale in March 2024, a 12.5% 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 | 0 | 0 | 0.0% |
3 Bedrooms | 4 | 3 | -25.0% |
4 Bedrooms | 3 | 5 | +66.7% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Prairie 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 25%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Prairie Grove in March 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Prairie Grove, IL
How long does it take to sell a home in Prairie Grove, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
5 Days | 12 Days | +150.0% |
Summary: Homes in Prairie Grove had an average of 12 days on market in Mar 2024, up by 150% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 2 homes were sold in Prairie Grove; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.