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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Prairie Grove is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Prairie Grove, IL

How much do homes in Prairie Grove, IL cost?

Median Sold Price

$549,950

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$110,450(+25.1%)

Key Takeaway

Homes in Prairie Grove have sold for 25.1% more than they did a year ago.

Summary: The median home sold price in Prairie Grove was $549,950 in November 2024, up 25.1% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $260K$268K
+3.1%
3 $355K$298.5K
-15.9%
4 $539.4K$609.5K
+13.0%
5+ $574.5K$605K
+5.3%

Summary: Prairie Grove 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 3.1%, 3 bedroom homes decreased by 15.9%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 5.3%.

Median Sold Price Compared To Nearby Cities

Prairie Grove
+25.1%
McHenry
+9.7%
Crystal Lake
+7.8%
Oakwood Hills
+5.9%
Nunda Township
+3.2%

Housing Supply in Prairie Grove, IL

How many homes are available in Prairie Grove, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
1217+41.7%

Summary: The Prairie Grove real estate market had 17 homes for sale in November 2024, a 41.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 58
+60.0%
4 45
+25.0%
5+ 22
0.0%

Summary: The Prairie Grove 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 100%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
05+100.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Prairie Grove, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Prairie Grove in November 2024, up by 100.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for Prairie Grove, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
7 Days29 Days+317.1%

Summary: Homes in Prairie Grove had an average of 29 days on market in Nov 2024, up by 317.1% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 5 homes were sold in Prairie Grove; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% 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 Prairie Grove, IL

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