Is Downers Grove, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Downers Grove has remained a Seller's Market.
Housing Prices in Downers Grove, IL
How much do homes in Downers Grove, IL cost?
Median Sold Price
$432,941
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Downers Grove was $432,941 in April 2024, up 5.6% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $157.5K | +21.2% |
2 Bedrooms | $192.5K | $213.5K | +10.9% |
3 Bedrooms | $390K | $414.5K | +6.3% |
4 Bedrooms | $508.5K | $620K | +21.9% |
5+ Bedrooms | $722.5K | $850K | +17.6% |
Summary: Downers Grove housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.2%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes increased by 17.6%.
Housing Supply in Downers Grove, IL
How many homes are available in Downers Grove, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
188 | 226 | +20.2% |
Summary: The Downers Grove real estate market had 226 homes for sale in April 2024, a 20.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 10 | +66.7% |
2 Bedrooms | 36 | 43 | +19.4% |
3 Bedrooms | 57 | 77 | +35.1% |
4 Bedrooms | 65 | 72 | +10.8% |
5+ Bedrooms | 24 | 24 | 0.0% |
Summary: The Downers Grove housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 35.1%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
49 | 59 | +20.4% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 59 homes were sold or pending in Downers Grove in April 2024, up by 20.4% month-over-month. Of the 59 sold homes, 24% were sold under asking, 24% were sold at asking, and 53% were sold over asking.
Days on Market for Downers Grove, IL
How long does it take to sell a home in Downers Grove, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
19 Days | 20 Days | +1.5% |
Summary: Homes in Downers Grove had an average of 20 days on market in Apr 2024, up by 1.5% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 59 homes were sold in Downers Grove; 86% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.