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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ela Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Ela Township, IL

How much do homes in Ela Township, IL cost?

Median Sold Price

$600,000

$218/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$57,586(+10.6%)

Key Takeaway

Homes in Ela Township have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Ela Township was $600,000 in November 2024, up 10.6% from last year, and the median price per square foot was $218.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $254.9K$312.5K
+22.6%
3 $420K$444.7K
+5.9%
4 $622.2K$680K
+9.3%
5+ $755K$887.4K
+17.5%

Summary: Ela Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 17.5%.

Median Sold Price Compared To Nearby Cities

Deer Park
+23.9%
Long Grove
+13.8%
Ela Township
+10.6%
Lake Zurich
+10.1%
Kildeer
-8.2%

Housing Supply in Ela Township, IL

How many homes are available in Ela Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
166150-9.6%

Summary: The Ela Township real estate market had 150 homes for sale in November 2024, a 9.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1418
+28.6%
3 4740
-14.9%
4 7364
-12.3%
5+ 3228
-12.5%

Summary: The Ela Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes decreased by 14.9%, 4 bedroom homes decreased by 12.3%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4834-29.2%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ela Township, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in Ela Township in November 2024, down by 29.2% month-over-month. Of the 34 sold homes, 47% were sold under asking, 21% were sold at asking, and 32% were sold over asking.

Days on Market for Ela Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
14 Days20 Days+46.6%

Summary: Homes in Ela Township had an average of 20 days on market in Nov 2024, up by 46.6% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 34 homes were sold in Ela Township; 79% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 9% 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 17 Days Ago

Newest Listings in Ela Township, IL

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