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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wheaton is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Wheaton, IL

How much do homes in Wheaton, IL cost?

Median Sold Price

$434,500

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$45,545(+11.7%)

Key Takeaway

Homes in Wheaton have sold for 11.7% more than they did a year ago.

Summary: The median home sold price in Wheaton was $434,500 in May 2024, up 11.7% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $140K$217.5K
+55.4%
2 $215K$240.5K
+11.9%
3 $350K$400K
+14.3%
4 $570K$603.3K
+5.8%
5+ $659.5K$712.4K
+8.0%

Summary: Wheaton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 55.4%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 8%.

Median Sold Price Compared To Nearby Cities

Winfield
+13.8%
Wheaton
+11.7%
Carol Stream
+10.5%
Milton Township
+8.8%
Glen Ellyn
+3.7%

Housing Supply in Wheaton, IL

How many homes are available in Wheaton, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
163191+17.2%

Summary: The Wheaton real estate market had 191 homes for sale in May 2024, a 17.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 3337
+12.1%
3 4561
+35.6%
4 6269
+11.3%
5+ 2122
+4.8%

Summary: The Wheaton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 35.6%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 4.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
7256-22.2%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

35 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wheaton, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.

Summary: A total of 56 homes were sold or pending in Wheaton in May 2024, down by 22.2% month-over-month. Of the 56 sold homes, 23% were sold under asking, 14% were sold at asking, and 63% were sold over asking.

Days on Market for Wheaton, IL

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

Average Sale Time

May 2023May 2024CHANGE
16 Days14 Days-16.0%

Summary: Homes in Wheaton had an average of 14 days on market in May 2024, down by 16% compared to last year.

Breakdown of Home Sale Times

52 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 56 homes were sold in Wheaton; 93% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% 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 3 Days Ago

Newest Listings in Wheaton, IL

Nearby Markets to Wheaton, IL

What housing markets are near Wheaton, IL?