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 September 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

$294,900

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$7,900(+2.8%)

Key Takeaway

Homes in Pingree Grove have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in Pingree Grove was $294,900 in September 2024, up 2.8% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $252K$272K
+7.9%
3 $284K$291K
+2.5%
4 $392.5K$390K
-0.6%
5+ $408K$455K
+11.5%

Summary: Pingree Grove housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 11.5%.

Median Sold Price Compared To Nearby Cities

Elgin
+11.5%
Plato Township
+6.0%
Rutland Township
+5.4%
Pingree Grove
+2.8%
Hampshire
-2.1%

Housing Supply in Pingree Grove, IL

How many homes are available in Pingree Grove, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6463-1.6%

Summary: The Pingree Grove real estate market had 63 homes for sale in September 2024, a 1.6% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 2829
+3.6%
3 2627
+3.8%
4 107
-30.0%
5+ 00
0.0%

Summary: The Pingree Grove housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 30%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2218-18.2%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pingree Grove, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Pingree Grove in September 2024, down by 18.2% month-over-month. Of the 18 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% 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

Sep 2023Sep 2024CHANGE
16 Days17 Days+6.7%

Summary: Homes in Pingree Grove had an average of 17 days on market in Sep 2024, up by 6.7% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

3 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 September 2024, 18 homes were sold in Pingree Grove; 83% of homes were sold within 30 days, 17% 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 Sep 1, 2024

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