Is Downers Grove, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Downers Grove has remained a Seller's Market.
Housing Prices in Downers Grove, IL
How much do homes in Downers Grove, IL cost?
Median Sold Price
$436,300
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Downers Grove was $436,300 in May 2024, up 6.4% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $165K | +26.9% |
2 Bedrooms | $195K | $215.5K | +10.5% |
3 Bedrooms | $395K | $415.9K | +5.3% |
4 Bedrooms | $516K | $611.2K | +18.5% |
5+ Bedrooms | $823.5K | $812.4K | -1.3% |
Summary: Downers Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.9%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes decreased by 1.3%.
Housing Supply in Downers Grove, IL
How many homes are available in Downers Grove, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
216 | 249 | +15.3% |
Summary: The Downers Grove real estate market had 249 homes for sale in May 2024, a 15.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 10 | 9 | -10.0% |
2 Bedrooms | 41 | 45 | +9.8% |
3 Bedrooms | 74 | 84 | +13.5% |
4 Bedrooms | 67 | 84 | +25.4% |
5+ Bedrooms | 24 | 27 | +12.5% |
Summary: The Downers Grove housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 25.4%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
65 | 78 | +20.0% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
45 Homes Were Sold
Over Asking
Summary: A total of 78 homes were sold or pending in Downers Grove in May 2024, up by 20.0% month-over-month. Of the 78 sold homes, 31% were sold under asking, 12% were sold at asking, and 58% were sold over asking.
Days on Market for Downers Grove, IL
How long does it take to sell a home in Downers Grove, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 16 Days | +16.8% |
Summary: Homes in Downers Grove had an average of 16 days on market in May 2024, up by 16.8% compared to last year.
Breakdown of Home Sale Times
68 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 78 homes were sold in Downers Grove; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.