Is Wheeling Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wheeling Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Wheeling Township, IL

How much do homes in Wheeling Township, IL cost?

Median Sold Price

$349,910

$217/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$14,610(+4.4%)

Key Takeaway

Homes in Wheeling Township have sold for 4.4% more than they did a year ago.

Summary: The median home sold price in Wheeling Township was $349,910 in May 2024, up 4.4% from last year, and the median price per square foot was $217.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $129.9K$150K
+15.5%
2 $215K$243.2K
+13.1%
3 $355.7K$380.2K
+6.9%
4 $484.1K$539.8K
+11.5%
5+ $553.8K$682.5K
+23.2%

Summary: Wheeling Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.5%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 23.2%.

Median Sold Price Compared To Nearby Cities

Arlington Heights
+10.6%
Mount Prospect
+6.3%
Wheeling
+5.6%
Wheeling Township
+4.4%
Prospect Heights
-5.5%

Housing Supply in Wheeling Township, IL

How many homes are available in Wheeling Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
490519+5.9%

Summary: The Wheeling Township real estate market had 519 homes for sale in May 2024, a 5.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 3429
-14.7%
2 159161
+1.3%
3 170179
+5.3%
4 100122
+22.0%
5+ 2728
+3.7%

Summary: The Wheeling Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.7%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 3.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
190180-5.3%

Asking Price vs. Sold Price

56 Homes Were Sold
Under Asking

31 Homes Were Sold
At Asking

93 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wheeling Township, you could pay more than the asking price. 51.7% of homes here sold above asking price last month.

Summary: A total of 180 homes were sold or pending in Wheeling Township in May 2024, down by 5.3% month-over-month. Of the 180 sold homes, 31% were sold under asking, 17% were sold at asking, and 52% were sold over asking.

Days on Market for Wheeling Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
12 Days18 Days+54.1%

Summary: Homes in Wheeling Township had an average of 18 days on market in May 2024, up by 54.1% compared to last year.

Breakdown of Home Sale Times

157 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 180 homes were sold in Wheeling Township; 87% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 4% 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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