Is Elk Grove Township, 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, Elk Grove Township has remained a Seller's Market.
Housing Prices in Elk Grove Township, IL
How much do homes in Elk Grove Township, IL cost?
Median Sold Price
$345,621
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Elk Grove Township was $345,621 in April 2024, up 13.4% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $150.2K | +15.5% |
2 Bedrooms | $192K | $225.7K | +17.6% |
3 Bedrooms | $345K | $378K | +9.6% |
4 Bedrooms | $448K | $459.9K | +2.7% |
5+ Bedrooms | $480K | $547.5K | +14.1% |
Summary: Elk Grove Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.5%, 2 bedroom homes increased by 17.6%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 14.1%.
Median Sold Price Compared To Nearby Cities
Elk Grove Township | $304.6K | $345.6K | +13.4% |
Mount Prospect | $351.9K | $380.1K | +8.0% |
Elk Grove Village | $315.8K | $339.5K | +7.5% |
Wood Dale | $310K | $323.7K | +4.4% |
Itasca | $370K | $385K | +4.1% |
Housing Supply in Elk Grove Township, IL
How many homes are available in Elk Grove Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
193 | 220 | +14.0% |
Summary: The Elk Grove Township real estate market had 220 homes for sale in April 2024, a 14.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 17 | 0.0% |
2 Bedrooms | 60 | 75 | +25.0% |
3 Bedrooms | 71 | 77 | +8.5% |
4 Bedrooms | 32 | 37 | +15.6% |
5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Elk Grove Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
66 | 80 | +21.2% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
44 Homes Were Sold
Over Asking
Summary: A total of 80 homes were sold or pending in Elk Grove Township in April 2024, up by 21.2% month-over-month. Of the 80 sold homes, 30% were sold under asking, 15% were sold at asking, and 55% were sold over asking.
Days on Market for Elk Grove Township, IL
How long does it take to sell a home in Elk Grove Township, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 12 Days | -47.3% |
Summary: Homes in Elk Grove Township had an average of 12 days on market in Apr 2024, down by 47.3% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 80 homes were sold in Elk Grove Township; 93% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.