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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Downers Grove Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Downers Grove Township, IL

How much do homes in Downers Grove Township, IL cost?

Median Sold Price

$469,625

$237/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$60,101(+14.7%)

Key Takeaway

Homes in Downers Grove Township have sold for 14.7% more than they did a year ago.

Summary: The median home sold price in Downers Grove Township was $469,625 in November 2024, up 14.7% from last year, and the median price per square foot was $237.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $133.7K$157K
+17.4%
2 $235K$265K
+12.8%
3 $389.1K$429K
+10.3%
4 $629.5K$706K
+12.2%
5+ $1.2M$1.3M
+9.6%

Summary: Downers Grove Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.4%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 9.6%.

Median Sold Price Compared To Nearby Cities

Darien
+17.8%
Burr Ridge
+17.8%
Downers Grove Township
+14.7%
Willowbrook
+7.9%
Clarendon Hills
0.2%

Housing Supply in Downers Grove Township, IL

How many homes are available in Downers Grove Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
552549-0.5%

Summary: The Downers Grove Township real estate market had 549 homes for sale in November 2024, a 0.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1712
-29.4%
2 136130
-4.4%
3 185195
+5.4%
4 141142
+0.7%
5+ 7370
-4.1%

Summary: The Downers Grove Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 29.4%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes decreased by 4.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
148131-11.5%

Asking Price vs. Sold Price

69 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

46 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Downers Grove Township, you may be able to get a good deal. 52.7% of homes here sold below asking price last month.

Summary: A total of 131 homes were sold or pending in Downers Grove Township in November 2024, down by 11.5% month-over-month. Of the 131 sold homes, 53% were sold under asking, 12% were sold at asking, and 35% were sold over asking.

Days on Market for Downers Grove Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
23 Days24 Days+4.0%

Summary: Homes in Downers Grove Township had an average of 24 days on market in Nov 2024, up by 4% compared to last year.

Breakdown of Home Sale Times

102 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 131 homes were sold in Downers Grove Township; 78% 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 21 Days Ago

Newest Listings in Downers Grove Township, IL

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