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Featured local agent — Mount Prospect, IL
Sarah Mitchell
Compass Real Estate · Mount Prospect, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Mount Prospect, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$433,750median sale price
How is the Mount Prospect, IL housing market right now?
The median home sale price in Mount Prospect, IL is $433,750, down 7.3% year-over-year. Homes sell in an average of 41 days with 123 active listings. The market is currently a 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 Mount Prospect a buyer's or seller's market?
Mount Prospect, IL is currently a seller's market, based on 2.1 months of supply and homes selling in about 41 days. How we determine this →
Homes sold
60
Last 12 weeks
Days on market
41
Average pace
Active listings
123
2.1 months supply
Sale-to-list
101.8%
Above asking
What does the Mount Prospect housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $433,750 |
| Median list price | $499,450 |
| Year-over-year price change | -7.3% |
| Average days on market | 41 days |
| Active inventory | 123 listings |
| Months of supply | 2.1 months |
| Sale-to-list price ratio | 101.8% |
| Median price per sq ft | $288/sq ft |
| Homes sold (latest month) | 60 |
| New listings (latest month) | 78 |
| Listings with a price cut | 15.4% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Mount Prospect by property type?
How the Mount Prospect, 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 | $560,000 | $324/sq ft | 35 | 43 days |
| Condo / Co-op | $268,000 | $229/sq ft | 20 | 40 days |
| Townhouse | $335,000 | $282/sq ft | 5 | 36 days |
Source: Redfin · Updated monthly
The Mount Prospect housing market is currently classified as a seller's market with a median sale price of $433,750. Prices have fallen 7.3% compared to last year, with homes spending an average of 41 days on market, indicating 2.1 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 4.4x provides context for how home values compare to local earning capacity.
Homes for sale in Mount Prospect
There are currently 123 homes listed for sale in Mount Prospect, Illinois. The median listing price is $499K.
Active listings
123
Homes on market
Median list price
$499K
Avg. days on market
41
Days until sale
New this week
78
Newly listed
Who lives in Mount Prospect?
Population
55,648
Median income
$103,911/yr
Median age
41.7 years
Owner-occupied
70.0%
College grads
48.6%
Avg commute
27 min
Source: U.S. Census Bureau ACS
What are homes worth in Mount Prospect?
Zillow home value
$458,867
Zillow rent index
$1,718/mo
Price-to-rent ratio
22.3x
Price-to-income
4.4x
Source: Zillow Research
What is it like to live in Mount Prospect?
Mount Prospect is a community of approximately 56K residents with a median age of 41.7 years.The median household income is $103,911, which reflects a relatively affluent area with strong earning potential. 48.6% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 70.0%, reflecting strong community stability and long-term resident commitment. The average commute time is 27 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Mount Prospect offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Mount Prospect?
9 schools tracked · 4,136 students
The largest public schools serving Mount Prospect, 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.
Lincoln Middle School
Grades 6-8 · 762 students
Robert Frost Elem School
Grades PK-5 · 572 students
River Trails Middle School
Grades 6-8 · 500 students
Indian Grove Elem School
Grades 1-5 · 456 students
Holmes Jr High School
Grades 6-8 · 453 students
Euclid Elem School
Grades PK-5 · 366 students
John Jay Elem School
Grades K-5 · 364 students
Robert Frost Elem School
Grades K-5 · 338 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 Mount Prospect, IL?
Want a head-to-head view? Compare Mount Prospect side-by-side with any other U.S. city using our market-comparison tool.
Is Mount Prospect a good real estate investment market?
For investors evaluating Mount Prospect, the price-to-rent ratio of 22.3x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 7.3% 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 Mount Prospect's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Mount Prospect's median home price.
Frequently asked questions
What is the average home price in Mount Prospect?
The median home sale price in Mount Prospect is $433,750, down 7.3% from last year.
How long do homes stay on market in Mount Prospect?
Homes typically spend 41 days on market before going under contract.
What is the median income in Mount Prospect?
The median household income is $103,911 per year.
Is Mount Prospect a buyer's or seller's market?
With 2.1 months of supply, Mount Prospect is currently a seller's market.
What is the Zillow home value estimate for Mount Prospect?
The Zillow Home Value Index (ZHVI) for Mount Prospect is $458,867, representing the typical home value in the area.
What is the median condo price in Mount Prospect?
The median condo/co-op sale price in Mount Prospect, IL is $268,000, compared to $560,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Mount Prospect?
The median single-family home price in Mount Prospect, IL is $560,000 (about $324 per square foot).
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