Is Mundelein, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mundelein is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Mundelein, IL

How much do homes in Mundelein, IL cost?

Median Sold Price

$359,764

$199/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$11,624(-3.1%)

Key Takeaway

Homes in Mundelein have sold for 3.1% less than they did a year ago.

Summary: The median home sold price in Mundelein was $359,764 in October 2024, down 3.1% from last year, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$160K
N/A
2 $344.9K$299K
-13.3%
3 $334.7K$342.5K
+2.3%
4 $455K$477.5K
+4.9%
5+ $545.5K$565K
+3.6%

Summary: Mundelein housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.3%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 3.6%.

Median Sold Price Compared To Nearby Cities

Hawthorn Woods
+17.5%
Libertyville
+10.1%
Fremont Township
+2.9%
Mundelein
-3.1%

Housing Supply in Mundelein, IL

How many homes are available in Mundelein, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
9994-5.1%

Summary: The Mundelein real estate market had 94 homes for sale in October 2024, a 5.1% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1412
-14.3%
3 4842
-12.5%
4 3131
0.0%
5+ 58
+60.0%

Summary: The Mundelein housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 60%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3927-30.8%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mundelein, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Mundelein in October 2024, down by 30.8% month-over-month. Of the 27 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% were sold over asking.

Days on Market for Mundelein, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
29 Days20 Days-31.2%

Summary: Homes in Mundelein had an average of 20 days on market in Oct 2024, down by 31.2% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 27 homes were sold in Mundelein; 70% of homes were sold within 30 days, 30% 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 16 Days Ago

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