Is Grayslake, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Grayslake has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80K | $114.4K | +43.1% |
2 Bedrooms | $220K | $230K | +4.5% |
3 Bedrooms | $285K | $305K | +7.0% |
4 Bedrooms | $392.7K | $426K | +8.5% |
5+ Bedrooms | $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 | $240K | $270K | +12.5% |
Avon Township | $226.1K | $253.2K | +12.0% |
Round Lake Beach | $204.5K | $226.6K | +10.8% |
Third Lake | $323K | $354.5K | +9.8% |
Grayslake | $288.6K | $295.4K | +2.4% |
Housing Supply in Grayslake, IL
How many homes are available in Grayslake, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
136 | 128 | -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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 48 | 52 | +8.3% |
3 Bedrooms | 57 | 42 | -26.3% |
4 Bedrooms | 26 | 28 | +7.7% |
5+ Bedrooms | 4 | 5 | +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 2024 | May 2024 | CHANGE |
---|---|---|
49 | 44 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 18 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
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.