Is Pingree Grove, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pingree Grove is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Pingree Grove has remained a Seller's Market.

Key Takeaway

Pingree Grove is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Pingree Grove, IL

How much do homes in Pingree Grove, IL cost?

Median Sold Price

$301,500

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$18,850(+6.7%)

Key Takeaway

Homes in Pingree Grove have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Pingree Grove was $301,500 in May 2024, up 6.7% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $240K$271K
+12.9%
3 $270K$285K
+5.6%
4 $389K$398.7K
+2.5%
5+ $400K$455K
+13.8%

Summary: Pingree Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 13.8%.

Median Sold Price Compared To Nearby Cities

Elgin
+16.5%
Plato Township
+8.2%
Pingree Grove
+6.7%
Rutland Township
+6.5%
Hampshire
+1.3%

Housing Supply in Pingree Grove, IL

How many homes are available in Pingree Grove, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5855-5.2%

Summary: The Pingree Grove real estate market had 55 homes for sale in May 2024, a 5.2% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1619
+18.8%
3 3028
-6.7%
4 107
-30.0%
5+ 21
-50.0%

Summary: The Pingree Grove housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.8%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1924+26.3%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pingree Grove, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.

Summary: A total of 24 homes were sold or pending in Pingree Grove in May 2024, up by 26.3% month-over-month. Of the 24 sold homes, 38% were sold under asking, 17% were sold at asking, and 46% were sold over asking.

Days on Market for Pingree Grove, IL

How long does it take to sell a home in Pingree Grove, IL?

Average Sale Time

May 2023May 2024CHANGE
13 Days11 Days-16.8%

Summary: Homes in Pingree Grove had an average of 11 days on market in May 2024, down by 16.8% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Pingree Grove are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 24 homes were sold in Pingree Grove; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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