Altos Market Data for Realtors

Mount Prospect, IL 60056

Single-Family Homes

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Mount Prospect, IL 60056

Mon May 20 2024
This week the median list price for Mount Prospect, IL 60056 is $475,000 with the market action index hovering around 80. This is about the same as last month's market action index of 80. Inventory has held steady at or around 15. Click here to stay informed with the Mount Prospect market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Mount Prospect, IL 60056

Mon May 20 2024
This week the median list price for Mount Prospect, IL 60056 is $475,000 with the market action index hovering around 80. This is about the same as last month's market action index of 80. Inventory has held steady at or around 15. Click here to stay informed with the Mount Prospect market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Mount Prospect market.
Median List Price $475,000
Median Price of New Listings $497,450
Per Square Foot $252
Average Days on Market 29
Median Days on Market 7
Price Decreased 20%
Price Increased 0%
Relisted 7%
Inventory 15
Median Rent
Market Action 80
Strong Seller's Market

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$640,000 2,645 8,000 - 10,000 sqft 4 2.5 54 2 1 7
$522,400 2,157 6,500 - 8,000 sqft 3 2.5 68 2 2 7
$462,499 2,047 8,000 - 10,000 sqft 3 2.5 61 2 0 7
$427,450 1,531 0.25 - 0.5 acre 3 2 64 2 1 28