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Featured local agent — Elk Grove Village, IL
Sarah Mitchell
Compass Real Estate · Elk Grove Village, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Elk Grove Village, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$381,750median sale price
How is the Elk Grove Village, IL housing market right now?
The median home sale price in Elk Grove Village, IL is $381,750, down 4.6% year-over-year. Homes sell in an average of 38 days with 73 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Elk Grove Village a buyer's or seller's market?
Elk Grove Village, IL is currently a strong seller's market, based on 1.7 months of supply and homes selling in about 38 days. How we determine this →
Homes sold
44
Last 12 weeks
Days on market
38
Average pace
Active listings
73
1.7 months supply
Sale-to-list
100.8%
Above asking
What does the Elk Grove Village housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $381,750 |
| Median list price | $364,950 |
| Year-over-year price change | -4.6% |
| Average days on market | 38 days |
| Active inventory | 73 listings |
| Months of supply | 1.7 months |
| Sale-to-list price ratio | 100.8% |
| Median price per sq ft | $261/sq ft |
| Homes sold (latest month) | 44 |
| New listings (latest month) | 49 |
| Listings with a price cut | 15.1% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Elk Grove Village by property type?
How the Elk Grove Village, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $499,000 | $275/sq ft | 23 | 35 days |
| Condo / Co-op | $238,000 | $238/sq ft | 16 | 51 days |
| Townhouse | $376,000 | $250/sq ft | 5 | 37 days |
Source: Redfin · Updated monthly
The Elk Grove Village housing market is currently classified as a strong seller's market with a median sale price of $381,750. Prices have fallen 4.6% compared to last year, with homes spending an average of 38 days on market, indicating 1.7 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.3x provides context for how home values compare to local earning capacity.
Homes for sale in Elk Grove Village
There are currently 73 homes listed for sale in Elk Grove Village, Illinois. The median listing price is $365K.
Active listings
73
Homes on market
Median list price
$365K
Avg. days on market
38
Days until sale
New this week
49
Newly listed
Who lives in Elk Grove Village?
Population
32,132
Median income
$95,216/yr
Median age
43.9 years
Owner-occupied
73.7%
College grads
40.9%
Avg commute
26.2 min
Source: U.S. Census Bureau ACS
What are homes worth in Elk Grove Village?
Zillow home value
$406,675
Zillow rent index
$1,781/mo
Price-to-rent ratio
19.0x
Price-to-income
4.3x
Source: Zillow Research
What is it like to live in Elk Grove Village?
Elk Grove Village is a community of approximately 32K residents with a median age of 43.9 years.The median household income is $95,216, which reflects a relatively affluent area with strong earning potential. 40.9% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 73.7%, reflecting strong community stability and long-term resident commitment. The average commute time is 26.2 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Elk Grove Village offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Elk Grove Village?
10 schools tracked · 6,149 students
The largest public schools serving Elk Grove Village, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Elk Grove High School
Grades 9-12 · 1,976 students
Grove Jr High School
Grades 6-8 · 788 students
Margaret Mead JHS
Grades 7-8 · 637 students
Adolph Link Elem School
Grades K-6 · 617 students
Adlai Stevenson Elem School
Grades K-6 · 496 students
Salt Creek Elem School
Grades K-5 · 423 students
Clearmont Elem School
Grades K-5 · 402 students
Adm Richard E Byrd Elem School
Grades K-5 · 317 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Elk Grove Village, IL?
Want a head-to-head view? Compare Elk Grove Village side-by-side with any other U.S. city using our market-comparison tool.
Is Elk Grove Village a good real estate investment market?
For investors evaluating Elk Grove Village, the price-to-rent ratio of 19.0x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 4.6% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Elk Grove Village's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Elk Grove Village's median home price.
Frequently asked questions
What is the average home price in Elk Grove Village?
The median home sale price in Elk Grove Village is $381,750, down 4.6% from last year.
How long do homes stay on market in Elk Grove Village?
Homes typically spend 38 days on market before going under contract.
What is the median income in Elk Grove Village?
The median household income is $95,216 per year.
Is Elk Grove Village a buyer's or seller's market?
With 1.7 months of supply, Elk Grove Village is currently a strong seller's market.
What is the Zillow home value estimate for Elk Grove Village?
The Zillow Home Value Index (ZHVI) for Elk Grove Village is $406,675, representing the typical home value in the area.
What is the median condo price in Elk Grove Village?
The median condo/co-op sale price in Elk Grove Village, IL is $238,000, compared to $499,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Elk Grove Village?
The median single-family home price in Elk Grove Village, IL is $499,000 (about $275 per square foot).
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