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 September 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

$337,416

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$11,249(+3.4%)

Key Takeaway

Homes in Gurnee have sold for 3.4% more than they did a year ago.

Summary: The median home sold price in Gurnee was $337,416 in September 2024, up 3.4% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $130K$155K
+19.2%
2 $215K$225K
+4.7%
3 $305K$315K
+3.3%
4 $420K$450K
+7.1%
5+ $560K$495.9K
-11.4%

Summary: Gurnee housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.2%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 11.4%.

Median Sold Price Compared To Nearby Cities

Waukegan
+10.6%
Gurnee
+3.4%
Warren Township
+3.1%

Housing Supply in Gurnee, IL

How many homes are available in Gurnee, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1211210.0%

Summary: The Gurnee real estate market had 121 homes for sale in September 2024, the same as August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 41
-75.0%
2 2229
+31.8%
3 4547
+4.4%
4 3427
-20.6%
5+ 1617
+6.3%

Summary: The Gurnee housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 75%, 2 bedroom homes increased by 31.8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 20.6%, and 5+ bedroom homes increased by 6.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
4434-22.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

17 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. 50% of homes here sold above asking price last month.

Summary: A total of 34 homes were sold or pending in Gurnee in September 2024, down by 22.7% month-over-month. Of the 34 sold homes, 26% were sold under asking, 24% were sold at asking, and 50% 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

Sep 2023Sep 2024CHANGE
16 Days13 Days-17.5%

Summary: Homes in Gurnee had an average of 13 days on market in Sep 2024, down by 17.5% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 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 September 2024, 34 homes were sold in Gurnee; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% 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 29 Days Ago

Newest Listings in Gurnee, IL

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