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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Elm Grove Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Elm Grove Township, IL

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

Median Sold Price

$225,000

$105/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$20,000(+9.8%)

Key Takeaway

Homes in Elm Grove Township have sold for 9.8% more than they did a year ago.

Summary: The median home sold price in Elm Grove Township was $225,000 in November 2024, up 9.8% from last year, and the median price per square foot was $105.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$55K
N/A
2 $100K$99.9K
-0.1%
3 $184.7K$222.5K
+20.4%
4 $237K$285K
+20.3%
5+ $289.9K$990K
+241.5%

Summary: Elm Grove 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 decreased by 0.1%, 3 bedroom homes increased by 20.4%, 4 bedroom homes increased by 20.3%, and 5+ bedroom homes increased by 241.5%.

Median Sold Price Compared To Nearby Cities

Elm Grove Township
+9.8%
Pekin Township
+7.3%
Groveland
+3.7%
Pekin
+3.3%
Tremont
-7.1%

Housing Supply in Elm Grove Township, IL

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

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
97-22.2%

Summary: The Elm Grove Township real estate market had 7 homes for sale in November 2024, a 22.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 24
+100.0%
4 20
-100.0%
5+ 21
-50.0%

Summary: The Elm Grove 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 decreased by 33.3%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
24+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Elm Grove Township, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in Elm Grove Township in November 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.

Days on Market for Elm Grove Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
58 Days98 Days+67.5%

Summary: Homes in Elm Grove Township had an average of 98 days on market in Nov 2024, up by 67.5% compared to last year.

Breakdown of Home Sale Times

2 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 Elm Grove Township are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 4 homes were sold in Elm Grove Township; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 20 Days Ago

Newest Listings in Elm Grove Township, IL

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