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 November 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

$338,666

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$3,541(+1.1%)

Key Takeaway

Homes in Gurnee have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Gurnee was $338,666 in November 2024, up 1.1% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $135K$165K
+22.2%
2 $217.9K$225K
+3.3%
3 $309K$320K
+3.6%
4 $420K$459.4K
+9.4%
5+ $560K$500K
-10.7%

Summary: Gurnee housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.2%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes decreased by 10.7%.

Median Sold Price Compared To Nearby Cities

Waukegan
+8.5%
Gurnee
+1.1%
Warren Township
+1.1%

Housing Supply in Gurnee, IL

How many homes are available in Gurnee, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
124121-2.4%

Summary: The Gurnee real estate market had 121 homes for sale in November 2024, a 2.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 33
0.0%
2 3232
0.0%
3 4541
-8.9%
4 3333
0.0%
5+ 1112
+9.1%

Summary: The Gurnee housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 8.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3731-16.2%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gurnee, you may be able to get a good deal. 54.8% of homes here sold below asking price last month.

Summary: A total of 31 homes were sold or pending in Gurnee in November 2024, down by 16.2% month-over-month. Of the 31 sold homes, 55% were sold under asking, 10% were sold at asking, and 35% 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

Nov 2023Nov 2024CHANGE
24 Days18 Days-26.7%

Summary: Homes in Gurnee had an average of 18 days on market in Nov 2024, down by 26.7% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 November 2024, 31 homes were sold in Gurnee; 81% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 3% 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 2 Days Ago

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