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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Waukegan Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Waukegan Township, IL

How much do homes in Waukegan Township, IL cost?

Median Sold Price

$220,000

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$16,440(+8.1%)

Key Takeaway

Homes in Waukegan Township have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Waukegan Township was $220,000 in October 2024, up 8.1% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $63.5K$77K
+21.3%
2 $175K$195K
+11.4%
3 $210.6K$229.9K
+9.1%
4 $235K$235K
0.0%
5+ $227.5K$243K
+6.8%

Summary: Waukegan Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.3%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 9.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 6.8%.

Median Sold Price Compared To Nearby Cities

Beach Park
+17.4%
North Chicago
+14.7%
Waukegan
+9.4%
Waukegan Township
+8.1%

Housing Supply in Waukegan Township, IL

How many homes are available in Waukegan Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
170201+18.2%

Summary: The Waukegan Township real estate market had 201 homes for sale in October 2024, a 18.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 43
-25.0%
2 3443
+26.5%
3 7691
+19.7%
4 4141
0.0%
5+ 1523
+53.3%

Summary: The Waukegan Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 26.5%, 3 bedroom homes increased by 19.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 53.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3955+41.0%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Waukegan Township, you could pay more than the asking price. 41.8% of homes here sold above asking price last month.

Summary: A total of 55 homes were sold or pending in Waukegan Township in October 2024, up by 41.0% month-over-month. Of the 55 sold homes, 38% were sold under asking, 20% were sold at asking, and 42% were sold over asking.

Days on Market for Waukegan Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
19 Days15 Days-20.8%

Summary: Homes in Waukegan Township had an average of 15 days on market in Oct 2024, down by 20.8% compared to last year.

Breakdown of Home Sale Times

47 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 55 homes were sold in Waukegan Township; 85% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 2% 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 Waukegan Township, IL

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