Is Gurnee, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gurnee is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Gurnee has remained a Seller's Market.

Key Takeaway

Gurnee is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Gurnee, IL

How much do homes in Gurnee, IL cost?

Median Sold Price

$340,000

$170/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$20,050(+6.3%)

Key Takeaway

Homes in Gurnee have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in Gurnee was $340,000 in April 2024, up 6.3% from last year, and the median price per square foot was $170.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $121.5K$140K
+15.2%
2 $201K$220K
+9.5%
3 $286K$315K
+10.1%
4 $400K$428K
+7.0%
5+ $515K$499K
-3.1%

Summary: Gurnee housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 3.1%.

Median Sold Price Compared To Nearby Cities

Warren Township
+12.5%
Waukegan
+12.5%
Gurnee
+6.3%

Housing Supply in Gurnee, IL

How many homes are available in Gurnee, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
8792+5.7%

Summary: The Gurnee real estate market had 92 homes for sale in April 2024, a 5.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 32
-33.3%
2 2116
-23.8%
3 2935
+20.7%
4 2733
+22.2%
5+ 76
-14.3%

Summary: The Gurnee housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 23.8%, 3 bedroom homes increased by 20.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3229-9.4%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gurnee, you could pay more than the asking price. 48.3% of homes here sold above asking price last month.

Summary: A total of 29 homes were sold or pending in Gurnee in April 2024, down by 9.4% month-over-month. Of the 29 sold homes, 24% were sold under asking, 28% were sold at asking, and 48% were sold over asking.

Days on Market for Gurnee, IL

How long does it take to sell a home in Gurnee, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
21 Days19 Days-9.0%

Summary: Homes in Gurnee had an average of 19 days on market in Apr 2024, down by 9% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gurnee are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 29 homes were sold in Gurnee; 83% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Gurnee, IL

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