Is Mount Prospect, 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, Mount Prospect has remained a Seller's Market.
Housing Prices in Mount Prospect, IL
How much do homes in Mount Prospect, IL cost?
Median Sold Price
$380,150
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Mount Prospect was $380,150 in April 2024, up 8% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $119K | $162.5K | +36.6% |
2 Bedrooms | $227K | $264.5K | +16.5% |
3 Bedrooms | $369.7K | $386K | +4.4% |
4 Bedrooms | $480K | $492.5K | +2.6% |
5+ Bedrooms | $599.9K | $585K | -2.5% |
Summary: Mount Prospect housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.6%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes decreased by 2.5%.
Median Sold Price Compared To Nearby Cities
Elk Grove Township | $304.6K | $345.6K | +13.4% |
Mount Prospect | $351.9K | $380.1K | +8.0% |
Prospect Heights | $274.7K | $290K | +5.5% |
Wheeling Township | $334.9K | $349.4K | +4.3% |
Des Plaines | $301.1K | $297.3K | -1.3% |
Housing Supply in Mount Prospect, IL
How many homes are available in Mount Prospect, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
128 | 139 | +8.6% |
Summary: The Mount Prospect real estate market had 139 homes for sale in April 2024, a 8.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 7 | -12.5% |
2 Bedrooms | 27 | 38 | +40.7% |
3 Bedrooms | 59 | 56 | -5.1% |
4 Bedrooms | 27 | 31 | +14.8% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Mount Prospect housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 40.7%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
42 | 47 | +11.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 47 homes were sold or pending in Mount Prospect in April 2024, up by 11.9% month-over-month. Of the 47 sold homes, 21% were sold under asking, 15% were sold at asking, and 64% were sold over asking.
Days on Market for Mount Prospect, IL
How long does it take to sell a home in Mount Prospect, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
19 Days | 11 Days | -41.3% |
Summary: Homes in Mount Prospect had an average of 11 days on market in Apr 2024, down by 41.3% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 47 homes were sold in Mount Prospect; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.