Is Warren Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Warren Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Warren Township, IL

How much do homes in Warren Township, IL cost?

Median Sold Price

$334,780

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$9,785(+3.0%)

Key Takeaway

Homes in Warren Township have sold for 3% more than they did a year ago.

Summary: The median home sold price in Warren Township was $334,780 in October 2024, up 3% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $132.5K$150K
+13.2%
2 $215K$225K
+4.7%
3 $299K$310K
+3.7%
4 $420K$450K
+7.1%
5+ $505K$505K
0.0%

Summary: Warren Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.2%, 2 bedroom homes increased by 4.7%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Waukegan
+9.4%
Gurnee
+3.4%
Warren Township
+3.0%

Housing Supply in Warren Township, IL

How many homes are available in Warren Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
195218+11.8%

Summary: The Warren Township real estate market had 218 homes for sale in October 2024, a 11.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 13
+200.0%
2 3855
+44.7%
3 7777
0.0%
4 5055
+10.0%
5+ 2928
-3.4%

Summary: The Warren Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 44.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 3.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
6063+5.0%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Warren Township, you may be able to get a good deal. 49.2% of homes here sold below asking price last month.

Summary: A total of 63 homes were sold or pending in Warren Township in October 2024, up by 5.0% month-over-month. Of the 63 sold homes, 49% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for Warren Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days23 Days+10.7%

Summary: Homes in Warren Township had an average of 23 days on market in Oct 2024, up by 10.7% compared to last year.

Breakdown of Home Sale Times

51 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 63 homes were sold in Warren Township; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% 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

Newest Listings in Warren Township, IL

Nearby Markets to Warren Township, IL

What housing markets are near Warren Township, IL?