Is Addison, 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, Addison has remained a Seller's Market.
Housing Prices in Addison, IL
How much do homes in Addison, IL cost?
Median Sold Price
$353,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Addison was $353,000 in April 2024, up 9% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $114K | $130.5K | +14.5% |
2 Bedrooms | $217.5K | $260K | +19.5% |
3 Bedrooms | $314.9K | $350K | +11.1% |
4 Bedrooms | $405K | $485K | +19.8% |
5+ Bedrooms | $465.2K | $570K | +22.5% |
Summary: Addison housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.5%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 19.8%, and 5+ bedroom homes increased by 22.5%.
Median Sold Price Compared To Nearby Cities
Addison | $323.8K | $353K | +9.0% |
Addison Township | $324.9K | $350K | +7.7% |
Wood Dale | $310K | $323.7K | +4.4% |
Villa Park | $305K | $310K | +1.6% |
Elmhurst | $523K | $529.9K | +1.3% |
Housing Supply in Addison, IL
How many homes are available in Addison, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
70 | 86 | +22.9% |
Summary: The Addison real estate market had 86 homes for sale in April 2024, a 22.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 11 | 18 | +63.6% |
3 Bedrooms | 39 | 40 | +2.6% |
4 Bedrooms | 10 | 16 | +60.0% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Addison 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 63.6%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
16 | 28 | +75.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Addison in April 2024, up by 75.0% month-over-month. Of the 28 sold homes, 29% were sold under asking, 25% were sold at asking, and 46% were sold over asking.
Days on Market for Addison, IL
How long does it take to sell a home in Addison, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
19 Days | 24 Days | +26.5% |
Summary: Homes in Addison had an average of 24 days on market in Apr 2024, up by 26.5% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 28 homes were sold in Addison; 75% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.