Elk Grove Village IL Median Home Prices
The graph displayed below is the median home prices in Elk Grove Village from June 2007 to June 2009. The median price is the point at which half of all homes are sold for more and half are sold for less.
It gives an idea of what priced properties are selling in the community. When the median price is on the lower end, more reasonably priced homes are selling vs. the higher end homes. In the current market since January 2009, you can see that the median priced home was $228,000 and then rebounded for June with a price of $282,000
This is also following the trend that I have personally seen with first time home buyers moving along the market. Foreclosures are traditionally priced below market and are also adjusting the price downward. There have been very few sales in the upper bracket homes for quite some time and indicates a very low amount of move-up sellers over the last year.
The market slowdown actually began to occur for Elk Grove Village in October 2007 and continues into today.
If you are thinking of purchasing or selling in Elk Grove Village, please consider me your neighborhood expert. I would welcome the opportunity to meet with you and discuss your options in today's marketplace.
Hi
Good information, interesting as we have many residents here at Vanderbilt Country Club that are from the Chicago suburbs. We would do well to send each other referrals. From Naples Florida
The Bear
www.MLSofNaples.com