Is Ela Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Ela Township has remained a Seller's Market.
Housing Prices in Ela Township, IL
How much do homes in Ela Township, IL cost?
Median Sold Price
$564,595
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ela Township was $564,595 in May 2024, up 5.5% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | - | N/A |
2 Bedrooms | $255K | $269.3K | +5.6% |
3 Bedrooms | $395K | $437K | +10.6% |
4 Bedrooms | $607.5K | $640K | +5.3% |
5+ Bedrooms | $709.3K | $820.5K | +15.7% |
Summary: Ela Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 15.7%.
Median Sold Price Compared To Nearby Cities
Kildeer | $755K | $847.5K | +12.3% |
Long Grove | $750K | $825K | +10.0% |
Lake Zurich | $384.3K | $421.6K | +9.7% |
Ela Township | $535K | $564.5K | +5.5% |
Deer Park | $555K | $540K | -2.7% |
Housing Supply in Ela Township, IL
How many homes are available in Ela Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
157 | 215 | +36.9% |
Summary: The Ela Township real estate market had 215 homes for sale in May 2024, a 36.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 12 | +50.0% |
3 Bedrooms | 49 | 61 | +24.5% |
4 Bedrooms | 75 | 100 | +33.3% |
5+ Bedrooms | 25 | 42 | +68.0% |
Summary: The Ela Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 24.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 68%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
42 | 49 | +16.7% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 49 homes were sold or pending in Ela Township in May 2024, up by 16.7% month-over-month. Of the 49 sold homes, 37% were sold under asking, 14% were sold at asking, and 49% were sold over asking.
Days on Market for Ela Township, IL
How long does it take to sell a home in Ela Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 29 Days | +103.9% |
Summary: Homes in Ela Township had an average of 29 days on market in May 2024, up by 103.9% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 49 homes were sold in Ela Township; 88% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.