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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spring Grove is a buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Spring Grove, IL

How much do homes in Spring Grove, IL cost?

Median Sold Price

$375,000

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$37,500(-9.1%)

Key Takeaway

Homes in Spring Grove have sold for 9.1% less than they did a year ago.

Summary: The median home sold price in Spring Grove was $375,000 in March 2024, down 9.1% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$158.5K
N/A
2 $177.9K$222K
+24.8%
3 $412.5K$370K
-10.3%
4 $410K$445K
+8.5%
5+ $465K$495K
+6.5%

Summary: Spring 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 24.8%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 6.5%.

Median Sold Price Compared To Nearby Cities

Richmond Township
+23.1%
Burton Township
+8.0%
Fox Lake
+7.3%
Randall
+4.6%
Spring Grove
-9.1%

Housing Supply in Spring Grove, IL

How many homes are available in Spring Grove, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2024+20.0%

Summary: The Spring Grove real estate market had 24 homes for sale in March 2024, a 20.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 711
+57.1%
4 79
+28.6%
5+ 32
-33.3%

Summary: The Spring 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 decreased by 33.3%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes decreased by 33.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spring Grove, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Spring Grove in March 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.

Days on Market for Spring Grove, IL

How long does it take to sell a home in Spring Grove, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
35 Days33 Days-6.4%

Summary: Homes in Spring Grove had an average of 33 days on market in Mar 2024, down by 6.4% compared to last year.

Breakdown of Home Sale Times

2 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 Spring Grove are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 3 homes were sold in Spring Grove; 67% of homes were sold within 30 days, 33% 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 19 Days Ago

Newest Listings in Spring Grove, IL

Nearby Markets to Spring Grove, IL

What housing markets are near Spring Grove, IL?