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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Grayslake is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Grayslake, IL

How much do homes in Grayslake, IL cost?

Median Sold Price

$295,460

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$6,835(+2.4%)

Key Takeaway

Homes in Grayslake have sold for 2.4% more than they did a year ago.

Summary: The median home sold price in Grayslake was $295,460 in May 2024, up 2.4% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $80K$114.4K
+43.1%
2 $220K$230K
+4.5%
3 $285K$305K
+7.0%
4 $392.7K$426K
+8.5%
5+ $360K$416K
+15.6%

Summary: Grayslake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 43.1%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 15.6%.

Median Sold Price Compared To Nearby Cities

Hainesville
+12.5%
Avon Township
+12.0%
Round Lake Beach
+10.8%
Third Lake
+9.8%
Grayslake
+2.4%

Housing Supply in Grayslake, IL

How many homes are available in Grayslake, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
136128-5.9%

Summary: The Grayslake real estate market had 128 homes for sale in May 2024, a 5.9% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 4852
+8.3%
3 5742
-26.3%
4 2628
+7.7%
5+ 45
+25.0%

Summary: The Grayslake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.3%, 3 bedroom homes decreased by 26.3%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4944-10.2%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Grayslake, you could pay more than the asking price. 56.8% of homes here sold above asking price last month.

Summary: A total of 44 homes were sold or pending in Grayslake in May 2024, down by 10.2% month-over-month. Of the 44 sold homes, 30% were sold under asking, 14% were sold at asking, and 57% were sold over asking.

Days on Market for Grayslake, IL

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

Average Sale Time

May 2023May 2024CHANGE
22 Days18 Days-18.2%

Summary: Homes in Grayslake had an average of 18 days on market in May 2024, down by 18.2% compared to last year.

Breakdown of Home Sale Times

39 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 Grayslake are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 44 homes were sold in Grayslake; 89% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 5% 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 1 Day Ago

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