Is Downers Grove Township, 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 Township has remained a Seller's Market.
Housing Prices in Downers Grove Township, IL
How much do homes in Downers Grove Township, IL cost?
Median Sold Price
$430,474
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Downers Grove Township was $430,474 in May 2024, up 7.4% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $126K | $142K | +12.7% |
2 Bedrooms | $234.5K | $254.2K | +8.4% |
3 Bedrooms | $380K | $410K | +7.9% |
4 Bedrooms | $611.5K | $634.6K | +3.8% |
5+ Bedrooms | $1.1M | $1.2M | +10.1% |
Summary: Downers Grove Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 10.1%.
Median Sold Price Compared To Nearby Cities
Darien | $340K | $397.3K | +16.9% |
Downers Grove Township | $400.9K | $430.4K | +7.4% |
Clarendon Hills | $575K | $599.9K | +4.3% |
Willowbrook | $274.4K | $284K | +3.5% |
Burr Ridge | $692.5K | $674K | -2.7% |
Housing Supply in Downers Grove Township, IL
How many homes are available in Downers Grove Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
598 | 663 | +10.9% |
Summary: The Downers Grove Township real estate market had 663 homes for sale in May 2024, a 10.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 21 | +10.5% |
2 Bedrooms | 118 | 136 | +15.3% |
3 Bedrooms | 181 | 204 | +12.7% |
4 Bedrooms | 189 | 203 | +7.4% |
5+ Bedrooms | 91 | 99 | +8.8% |
Summary: The Downers Grove Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 8.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
187 | 196 | +4.8% |
Asking Price vs. Sold Price
67 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
101 Homes Were Sold
Over Asking
Summary: A total of 196 homes were sold or pending in Downers Grove Township in May 2024, up by 4.8% month-over-month. Of the 196 sold homes, 34% were sold under asking, 14% were sold at asking, and 52% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 15 Days | -10.2% |
Summary: Homes in Downers Grove Township had an average of 15 days on market in May 2024, down by 10.2% compared to last year.
Breakdown of Home Sale Times
176 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 196 homes were sold in Downers Grove Township; 90% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.