Is Elburn, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elburn is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Elburn was a Seller's Market.

Key Takeaway

Elburn is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Elburn, IL

How much do homes in Elburn, IL cost?

Median Sold Price

$429,450

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$14,450(+3.5%)

Key Takeaway

Homes in Elburn have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in Elburn was $429,450 in October 2024, up 3.5% from last year, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $120K$219.9K
+83.3%
2 $231.5K$250K
+8.0%
3 $375K$391.4K
+4.4%
4 $465K$465K
0.0%
5+ $520K$500K
-3.8%

Summary: Elburn housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 83.3%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 3.8%.

Median Sold Price Compared To Nearby Cities

Campton Township
+13.2%
Blackberry Township
+4.4%
Elburn
+3.5%
Maple Park
-6.8%

Housing Supply in Elburn, IL

How many homes are available in Elburn, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5466+22.2%

Summary: The Elburn real estate market had 66 homes for sale in October 2024, a 22.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 1928
+47.4%
4 2830
+7.1%
5+ 55
0.0%

Summary: The Elburn housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 47.4%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
119-18.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elburn, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Elburn in October 2024, down by 18.2% month-over-month. Of the 9 sold homes, 44% were sold under asking, 44% were sold at asking, and 11% were sold over asking.

Days on Market for Elburn, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
30 Days25 Days-14.4%

Summary: Homes in Elburn had an average of 25 days on market in Oct 2024, down by 14.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 9 homes were sold in Elburn; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% 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 Elburn, IL

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