Real Estate Market Conditions
Addison Real Estate
Single Family Homes for sale
Condos and Townhomes for sale
multi-unit buildings for sale
The Addison real estate market is healthy but a bit sluggish for
March 2016. Inventory is super tight, market times are up slightly, new
listings and closings are down over this time last year. As
of April 1, 2016, there is a 3.1 months supply of single family homes for sale
in Addison compared to 3.5 last year. For condos/townhomes, the
supply has decreased drastically from a 5.2 months’ supply last year to
a 3.1 months supply as April 1, 2016. Anything under 5 months is
definitely a sellers market.
The time a home stays on the market in Addison is 137 days which 10%
higher than last year when homes were on the market 125 days. Condos
and townhomes are on the market 141 days compared to last year at this
time when they were at 134 days. Prior to 2014, market times were
hugely volatile, but since 2014 around this time, while market times
have fluctuated for both property types, they’ve stayed under 150 days.
closings are down from this time last year with only 4 condos/townhomes
closed compared to 10 last year. Last year at this time 27 homes
closed, and this year only 21 closed. 2015 was a strong year for
closings with an unprecedented 40 single family homes closed in July
The Village of
founded in 1884 and continues to
with its current number of residents being over 36,000. Addison is a
family oriented area, and offers a wide spectrum of home styles to meet
a wide range of incomes.
Addison is a community that
offers a one-of-a-kind living
environment. Homes within the village range in style from highly
affordable starter homes to more expensive luxury models. There are
several Addison subdivisions that offer distinct housing styles.
The split level and ranch home seem to be most
Addison has the fourth largest
industrial park in the state of
Illinois. Addison's industrial sector encompasses much of the village's
west and south sides. Twenty percent of all manufacturing operations in
Du Page County are located in Addison. To encourage business and
industrial development and facilitate the expansion of existing sites,
the village offers a wide variety of economic incentives that are
molded to the needs of each individual business seeking a home in
Addison is a business friendly
community, hosting more than 45
businesses with over 100 employees each. United Parcel Service
is its largest employer. The Pampered Chef is
headquartered in Addison. In addition, Nabisco has a major operating
facility in the village.
The Village does not rely solely
on the employment
large companies. Businesses with less than 20 employees comprise
upwards of two-thirds of all Addison-based business.
In addition, Addison has recently
undergone a tremendous
spurt of new retail shops and restaurants along Lake Street between
Route 53 and Mill Road. There is no shortage of good food choices in
Addison. Whether you want a fast food lunch from Portillo's to a fine
dining experience at Zsa Zsa's steakhouse, there are plenty of choices
to satisfy the entire family's taste buds.
Caputo's Fresh Fruit Market
proudly calls Addison home, and
a staple of the town for years, offering excellent fruit, meat and deli
items at very reasonable prices.
The Addison Park District offers
a variety of programs to
every age. In addition to youth sport programs and adult leisure
activities, the park offers golf facilities, an aquatic center, a
fitness center, and over 20 parks.
Addison Elementary School District 4
elementary schools, a primary school, and one middle school. In
addition, there are three parochial elementary schools located in the
area. High school students can either attend Addison Trail High School
located within Du Page High School District 88.
residents have easy access to either the North-South
(I-355) which lies to their west or the Eisenhower Expressway (I-290)
which lies to the north. From Addison it is about a 35-minute drive
into the Loop. Chicago O'Hare International Airport is a 20 minute
drive, while a trip to Chicago Midway Airport will take 35 minutes.
Commuters may use the Metra station in Wood Dale for a 48-minute trip
downtown, or the Union Pacific station in Villa Park for a 35 minute
ride into the Loop.
Wonder how the property taxes in Addison
compare to other Du
Page suburbs? Check here.
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