Is Elk Grove Village, 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 Village has remained a Seller's Market.
Housing Prices in Elk Grove Village, IL
How much do homes in Elk Grove Village, IL cost?
Median Sold Price
$339,500
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Elk Grove Village was $339,500 in April 2024, up 7.5% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $158.5K | +13.3% |
2 Bedrooms | $217K | $243K | +12.0% |
3 Bedrooms | $328.9K | $357.5K | +8.7% |
4 Bedrooms | $400K | $415K | +3.8% |
5+ Bedrooms | $462K | $473.5K | +2.5% |
Summary: Elk Grove Village housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Cities
Elk Grove Township | $304.6K | $345.6K | +13.4% |
Addison Township | $324.9K | $350K | +7.7% |
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 Village, IL
How many homes are available in Elk Grove Village, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
72 | 89 | +23.6% |
Summary: The Elk Grove Village real estate market had 89 homes for sale in April 2024, a 23.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 18 | 31 | +72.2% |
3 Bedrooms | 33 | 33 | 0.0% |
4 Bedrooms | 13 | 15 | +15.4% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Elk Grove Village housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 72.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 31 | +29.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Elk Grove Village in April 2024, up by 29.2% month-over-month. Of the 31 sold homes, 35% were sold under asking, 6% were sold at asking, and 58% were sold over asking.
Days on Market for Elk Grove Village, IL
How long does it take to sell a home in Elk Grove Village, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 8 Days | -65.3% |
Summary: Homes in Elk Grove Village had an average of 8 days on market in Apr 2024, down by 65.3% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 31 homes were sold in Elk Grove Village; 97% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.