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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spring Grove Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Spring Grove Township, IL

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

Median Sold Price

$391,500

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$41,500(+11.9%)

Key Takeaway

Homes in Spring Grove Township have sold for 11.9% more than they did a year ago.

Summary: The median home sold price in Spring Grove Township was $391,500 in October 2024, up 11.9% from last year, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $122.6K$168.5K
+37.4%
2 $160.5K$165K
+2.8%
3 $355K$371K
+4.5%
4 $402.5K$515K
+28.0%
5+ $486.2K$450K
-7.5%

Summary: Spring Grove Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.4%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 28%, and 5+ bedroom homes decreased by 7.5%.

Housing Supply in Spring Grove Township, IL

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

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
58580.0%

Summary: The Spring Grove Township real estate market had 58 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 1314
+7.7%
3 1718
+5.9%
4 1817
-5.6%
5+ 99
0.0%

Summary: The Spring Grove Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13130.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spring Grove Township, expect to pay close to the asking price. 46.2% of homes here sold near the asking price last month.

Summary: A total of 13 homes were sold or pending in Spring Grove Township in October 2024, the same as the previous month. Of the 13 sold homes, 23% were sold under asking, 46% were sold at asking, and 31% were sold over asking.

Days on Market for Spring Grove Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
19 Days21 Days+9.2%

Summary: Homes in Spring Grove Township had an average of 21 days on market in Oct 2024, up by 9.2% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 13 homes were sold in Spring Grove Township; 62% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% 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 21 Days Ago

Newest Listings in Spring Grove Township, IL

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