Is Elmwood Park, 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, Elmwood Park has remained a Seller's Market.
Housing Prices in Elmwood Park, IL
How much do homes in Elmwood Park, IL cost?
Median Sold Price
$353,100
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Elmwood Park was $353,100 in April 2024, up 15.8% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $108.5K | $129.9K | +19.8% |
2 Bedrooms | $195K | $215K | +10.3% |
3 Bedrooms | $330K | $379.4K | +15.0% |
4 Bedrooms | $372.5K | $414.5K | +11.3% |
5+ Bedrooms | $477K | $510K | +6.9% |
Summary: Elmwood Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.8%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
Elmwood Park | $305K | $353.1K | +15.8% |
Leyden Township | $280K | $304.9K | +8.9% |
River Grove | $259.5K | $274K | +5.6% |
River Forest Township | $503K | $497K | -1.2% |
River Forest | $503K | $497K | -1.2% |
Housing Supply in Elmwood Park, IL
How many homes are available in Elmwood Park, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
92 | 96 | +4.3% |
Summary: The Elmwood Park real estate market had 96 homes for sale in April 2024, a 4.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 15 | +7.1% |
2 Bedrooms | 14 | 16 | +14.3% |
3 Bedrooms | 27 | 32 | +18.5% |
4 Bedrooms | 26 | 26 | 0.0% |
5+ Bedrooms | 11 | 7 | -36.4% |
Summary: The Elmwood Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 18.5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 36.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
29 | 28 | -3.4% |
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 Elmwood Park in April 2024, down by 3.4% 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 Elmwood Park, IL
How long does it take to sell a home in Elmwood Park, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 31 Days | +65.9% |
Summary: Homes in Elmwood Park had an average of 31 days on market in Apr 2024, up by 65.9% compared to last year.
Breakdown of Home Sale Times
20 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, 28 homes were sold in Elmwood Park; 71% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.