Addison, IL 60101 Real Estate Market Update
If you’re thinking about buying or selling a home in Addison, IL 60101, understanding the current market conditions is key to making smart decisions. The Addison real estate market continues to show signs of steady demand, moderate price shifts, and competitive sales activity. Here’s a detailed look at the latest data for May 2025 to help you navigate the market confidently.
Market Overview
Based on the most recent figures from trusted sources — including Midwest Real Estate Data (MRED/MLS), Redfin, Zillow, Rocket Homes, and Realtor.com — Addison’s housing market is stable with some interesting trends worth noting.
Median Home Price
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The median sale price for homes in Addison hovers around $365,000, indicating a generally stable market year-over-year.
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While some data points show a slight decrease (about 3%) in the 60101 ZIP code specifically, other village-wide statistics reveal price increases up to 22%, reflecting demand variation by neighborhood and property type.
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This range shows that certain areas and home types are appreciating faster than others, especially well-maintained single-family homes and larger properties.
Price per Square Foot
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Homes are selling at approximately $210 to $230 per square foot, an 18–20% increase compared to last year.
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This increase indicates that buyers are willing to pay more for quality homes and that overall property values are rising steadily.
Market Speed — Days on Market
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Homes are selling relatively quickly with an average time on market between 25 and 30 days for well-priced properties.
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This fast pace suggests motivated buyers and relatively low inventory, making it important for sellers to be ready to list and buyers to act quickly.
Inventory and Sales Volume
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There are roughly 90 active listings available in Addison at the time of this update.
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May 2025 saw approximately 70 to 75 homes sold, showing consistent transaction volume compared to previous months.
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Inventory levels remain somewhat tight, which favors sellers but also keeps buyers engaged and competitive.
Sale Price vs. Asking Price
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Around 70% of homes are selling below their asking price, indicating that while the market favors sellers, buyers can still negotiate, especially on homes priced too high or with longer days on market.
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Proper pricing is crucial for sellers who want to attract strong offers quickly.
What Sellers Should Know
Sellers currently enjoy favorable market conditions in Addison:
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Strong Buyer Interest: Demand remains solid, especially for homes in move-in ready condition and competitive price points.
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Quick Turnaround: Homes priced correctly typically sell within 3–4 weeks.
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Multiple Offers Possible: Well-priced homes often receive several offers, sometimes driving prices closer to or above asking.
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Preparation Pays Off: Sellers who stage their homes, make necessary repairs, and market effectively can maximize sale price and minimize time on market.
What Buyers Should Expect
While sellers hold some advantage, buyers can still find opportunities:
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Act Quickly: Properties can sell within weeks, so having financing pre-approved and a clear offer strategy is essential.
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Negotiation Room: Since many homes sell below list price, careful market analysis and smart offers can pay off.
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Varied Options: Buyers seeking single-family homes, condos, or townhomes will find choices, though inventory is limited.
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Market Awareness: Understanding local market fluctuations helps buyers avoid overpaying and find the right property.
Neighborhood & Property Type Insights
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Single-Family Homes: These remain the most popular and stable segment, with steady appreciation and high demand.
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Condos & Townhomes: Inventory in these categories tends to move faster and sometimes commands premium per square foot prices, especially for updated or well-located units.
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Investment Properties: Addison’s location and market stability make it attractive for investors seeking rental properties or fix-and-flip opportunities.
Regional Comparison
Compared to broader DuPage County, where the median home price is approximately $425,000 and the market is largely flat year-over-year, Addison offers a more affordable alternative with comparable demand. This makes Addison appealing to first-time homebuyers, families, and investors looking for value within the Chicago metro area.
Final Thoughts
The Addison, IL 60101 housing market in May 2025 is characterized by steady pricing, brisk sales, and limited but active inventory. Sellers who price and prepare their homes well can expect strong interest and quick sales. Buyers who are prepared and strategic still have room to negotiate and find good deals.
If you’re considering a move, whether buying or selling, local market expertise can make all the difference. Reach out anytime for a personalized home valuation, neighborhood analysis, or guidance on your next real estate transaction in Addison.
Disclaimer
The data in this article were sourced from publicly available real estate platforms including Midwest Real Estate Data (MRED/MLS), Redfin, Zillow, Rocket Homes, and Realtor.com as of May 2025. While we strive for accuracy, market conditions change frequently. Please consult a licensed real estate professional for the most current information and personalized advice.
