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 December 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

$332,187

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$5,875(-1.7%)

Key Takeaway

Homes in Gurnee have sold for 1.7% less than they did a year ago.

Summary: The median home sold price in Gurnee was $332,187 in December 2024, down 1.7% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $137.5K$165K
+20.0%
2 $215.4K$230K
+6.8%
3 $309K$319.9K
+3.6%
4 $423K$464.5K
+9.8%
5+ $560K$500K
-10.7%

Summary: Gurnee housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes decreased by 10.7%.

Median Sold Price Compared To Nearby Cities

Waukegan
+6.8%
Warren Township
-0.7%
Gurnee
-1.7%

Housing Supply in Gurnee, IL

How many homes are available in Gurnee, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
111102-8.1%

Summary: The Gurnee real estate market had 102 homes for sale in December 2024, a 8.1% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 33
0.0%
2 2923
-20.7%
3 3839
+2.6%
4 3128
-9.7%
5+ 109
-10.0%

Summary: The Gurnee housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20.7%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 9.7%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
3234+6.3%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

8 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. 58.8% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in Gurnee in December 2024, up by 6.3% month-over-month. Of the 34 sold homes, 59% were sold under asking, 18% were sold at asking, and 24% 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

Dec 2023Dec 2024CHANGE
33 Days19 Days-42.7%

Summary: Homes in Gurnee had an average of 19 days on market in Dec 2024, down by 42.7% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

7 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 December 2024, 34 homes were sold in Gurnee; 79% of homes were sold within 30 days, 21% 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 4 Days Ago

Newest Listings in Gurnee, IL

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