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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Prairie Grove is a buyer's market

Buyer's
Market

Difference Since December 2023

At the same time last year, Prairie Grove was a Seller's Market.

Key Takeaway

Prairie Grove is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Prairie Grove, IL

How much do homes in Prairie Grove, IL cost?

Median Sold Price

$535,000

$184/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$10,000(+1.9%)

Key Takeaway

Homes in Prairie Grove have sold for 1.9% more than they did a year ago.

Summary: The median home sold price in Prairie Grove was $535,000 in December 2024, up 1.9% from last year, and the median price per square foot was $184.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 --
N/A
2 $242K$268K
+10.7%
3 $350K$339.9K
-2.9%
4 $551.4K$585.5K
+6.2%
5+ $660K$550K
-16.7%

Summary: Prairie Grove housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.7%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes decreased by 16.7%.

Median Sold Price Compared To Nearby Cities

McHenry
+9.8%
Crystal Lake
+4.8%
Nunda Township
+2.6%
Prairie Grove
+1.9%
Oakwood Hills
+1.4%

Housing Supply in Prairie Grove, IL

How many homes are available in Prairie Grove, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
1711-35.3%

Summary: The Prairie Grove real estate market had 11 homes for sale in December 2024, a 35.3% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 106
-40.0%
4 42
-50.0%
5+ 21
-50.0%

Summary: The Prairie Grove housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 40%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
71-85.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Prairie Grove, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Prairie Grove in December 2024, down by 85.7% month-over-month. Of the 1 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

Dec 2023Dec 2024CHANGE
27 Days18 Days-33.3%

Summary: Homes in Prairie Grove had an average of 18 days on market in Dec 2024, down by 33.3% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 1 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 12 Days Ago

Newest Listings in Prairie Grove, IL

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