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 November 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

$357,200

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$16,967(-4.5%)

Key Takeaway

Homes in Mundelein have sold for 4.5% less than they did a year ago.

Summary: The median home sold price in Mundelein was $357,200 in November 2024, down 4.5% from last year, and the median price per square foot was $201.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$184K
N/A
2 $339.9K$295K
-13.2%
3 $343.6K$335K
-2.5%
4 $457.5K$477.5K
+4.4%
5+ $547.7K$565K
+3.1%

Summary: Mundelein housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.2%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 3.1%.

Median Sold Price Compared To Nearby Cities

Hawthorn Woods
+19.5%
Libertyville
+10.2%
Fremont Township
+2.2%
Mundelein
-4.5%

Housing Supply in Mundelein, IL

How many homes are available in Mundelein, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9388-5.4%

Summary: The Mundelein real estate market had 88 homes for sale in November 2024, a 5.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 137
-46.2%
3 4041
+2.5%
4 3132
+3.2%
5+ 87
-12.5%

Summary: The Mundelein 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 decreased by 46.2%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2921-27.6%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 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. 47.6% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in Mundelein in November 2024, down by 27.6% month-over-month. Of the 21 sold homes, 48% were sold under asking, 14% were sold at asking, and 38% 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

Nov 2023Nov 2024CHANGE
26 Days17 Days-31.3%

Summary: Homes in Mundelein had an average of 17 days on market in Nov 2024, down by 31.3% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

4 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 November 2024, 21 homes were sold in Mundelein; 81% of homes were sold within 30 days, 19% 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 17 Days Ago

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