Is Burr Ridge, 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, Burr Ridge has remained a Seller's Market.
Housing Prices in Burr Ridge, IL
How much do homes in Burr Ridge, IL cost?
Median Sold Price
$672,888
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Burr Ridge was $672,888 in April 2024, down 5.9% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $364K | $385K | +5.8% |
2 Bedrooms | $432.7K | $520K | +20.2% |
3 Bedrooms | $495K | $488K | -1.4% |
4 Bedrooms | $774.5K | $835K | +7.8% |
5+ Bedrooms | $1.1M | $1.0M | -12.2% |
Summary: Burr Ridge housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 20.2%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 12.2%.
Median Sold Price Compared To Nearby Cities
Indian Head Park | $320K | $362.5K | +13.3% |
Willowbrook | $265K | $300K | +13.2% |
Downers Grove Township | $405K | $426.4K | +5.3% |
Willow Springs | $357.5K | $353.7K | -1.1% |
Burr Ridge | $715K | $672.8K | -5.9% |
Housing Supply in Burr Ridge, IL
How many homes are available in Burr Ridge, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
57 | 71 | +24.6% |
Summary: The Burr Ridge real estate market had 71 homes for sale in April 2024, a 24.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 9 | 12 | +33.3% |
3 Bedrooms | 7 | 11 | +57.1% |
4 Bedrooms | 17 | 20 | +17.6% |
5+ Bedrooms | 24 | 27 | +12.5% |
Summary: The Burr Ridge housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 12 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Burr Ridge in April 2024, the same as the previous month. Of the 12 sold homes, 42% were sold under asking, 17% were sold at asking, and 42% were sold over asking.
Days on Market for Burr Ridge, IL
How long does it take to sell a home in Burr Ridge, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 45 Days | +55.2% |
Summary: Homes in Burr Ridge had an average of 45 days on market in Apr 2024, up by 55.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 12 homes were sold in Burr Ridge; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.