Altos Market Data for Realtors
Hanover Park, IL
Single-Family Homes
Schedule a demo today at AltosResearch.com
Hanover Park, IL
Tue May 30 2023
This week the median list price for Hanover Park, IL is $375,000 with the market action index hovering around 90. This is about the same as last month's market action index of 90. Inventory has decreased to 5.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Real-Time Market Profile
| Median List Price | $375,000 | |
| Median Price of New Listings | $319,000 | |
| Per Square Foot | $216 | |
| Average Days on Market | 48 | |
| Median Days on Market | 0 | |
| Price Decreased | 20% | |
| Price Increased | 20% | |
| Relisted | 20% | |
| Inventory | 5 | |
| Median Rent | ||
| Market Action | 90 | |
| Strong Seller's Market | ||
This week saw relatively little price change from last week. However, prices continue demonstrate a nice up trend in general over the last several weeks.
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 |
|---|---|---|---|---|---|---|---|---|
| $448,990 | 2,182 | 6,500 - 8,000 sqft | 4 | 2.5 | 31 | 0 | 0 | 217 |
| $379,900 | 1,753 | 0.25 - 0.5 acre | 4 | 2.5 | 56 | 0 | 1 | 21 |
| $375,000 | 1,508 | - | 3 | 2.5 | 28 | 1 | 1 | 0 |
| $317,000 | 1,524 | 8,000 - 10,000 sqft | 3 | 1.8 | 53 | 2 | 2 | 0 |