Is Addison Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Addison Township is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Addison Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Addison Township, IL

How much do homes in Addison Township, IL cost?

Median Sold Price

$363,281

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$29,577(+8.9%)

Key Takeaway

Homes in Addison Township have sold for 8.9% more than they did a year ago.

Summary: The median home sold price in Addison Township was $363,281 in October 2024, up 8.9% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $124.2K$135K
+8.7%
2 $240K$250K
+4.2%
3 $334.1K$367.3K
+9.9%
4 $475K$487K
+2.5%
5+ $562K$613.6K
+9.2%

Summary: Addison Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Cities

Bensenville
+16.4%
Wood Dale
+13.5%
Itasca
+11.3%
Addison Township
+8.9%
Addison
+4.1%

Housing Supply in Addison Township, IL

How many homes are available in Addison Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
234279+19.2%

Summary: The Addison Township real estate market had 279 homes for sale in October 2024, a 19.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 910
+11.1%
2 5671
+26.8%
3 110132
+20.0%
4 4650
+8.7%
5+ 1316
+23.1%

Summary: The Addison Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 26.8%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 23.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5465+20.4%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

30 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Addison Township, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 65 homes were sold or pending in Addison Township in October 2024, up by 20.4% month-over-month. Of the 65 sold homes, 42% were sold under asking, 12% were sold at asking, and 46% were sold over asking.

Days on Market for Addison Township, IL

How long does it take to sell a home in Addison Township, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
22 Days22 Days-1.5%

Summary: Homes in Addison Township had an average of 22 days on market in Oct 2024, down by 1.5% compared to last year.

Breakdown of Home Sale Times

50 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 65 homes were sold in Addison Township; 77% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% 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 16 Days Ago

Newest Listings in Addison Township, IL

Nearby Markets to Addison Township, IL

What housing markets are near Addison Township, IL?