How Competitive is the Buffalo Grove, IL Housing Market?

by Christopher Paul

Buffalo Grove, a city near Chicago, IL, is a highly competitive housing market. About 56% of homes sold above list price in the 3 months ending June 2026, with homes selling at 101% of asking on average.

2421 Chambourd Dr

The National Picture

Nationally, about 25% of homes sold above asking in June 2026 with a median of 50 days on market. Buffalo Grove far exceeds that pace—its 56.5% sold-above rate is more than double the national figure, and homes here spend a median of just 47 days on market. Buyers in this area face significantly more pressure than in the typical U.S. market.

Sales Surge 32 Percent While Listings Pile Up

Sales surged 32% year over year, the largest volume increase in this comparison. Active listings grew 23% and pending sales jumped 33%. At 100.7% sale-to-list, homes sell close to asking rather than well above it. The sold-above rate actually fell 7.5 points despite the demand surge, suggesting new inventory is absorbing buyers before bidding wars develop. Nearby Highland Park (104.1% sale-to-list) commands a far steeper premium.

Why is Buffalo Grove Highly Competitive?

Buffalo Grove is highly competitive because rapidly growing demand has compressed an already-short supply into fierce competition. At 2.5 months of supply, the market tilts firmly toward sellers. Pending sales surged 33% year over year, confirming strong buyer demand. Despite 18% of listings carrying price drops, the high sold-above rate shows correctly priced homes still attract bidding wars. A 4-day increase in days on market has not eased the competition.

Nearby Neighborhoods

Neighborhood	Sold Above List	Sale-to-List	Days on Market	Off Mkt in 2 Wks
Buffalo Grove	56.5%	100.7%	47 days	63.0%
The Woodlands at Fiore	64.2%	100.0%	51 days	67.6%
Highland Park, IL	56.5%	104.1%	35 days	60.8%
Mundelein, IL	45.3%	100.5%	49 days	63.0%
Grayslake, IL	59.7%	101.3%	42 days	75.7%
Deerfield, IL	52.4%	102.5%	35 days	65.0%

Limited to neighborhoods with at least 10 home sales in the period.

All data comes from Redfin and represents a three-month rolling average ending June 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.