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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wheeling is a seller's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Wheeling, IL

How much do homes in Wheeling, IL cost?

Median Sold Price

$289,500

$206/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$16,833(+6.2%)

Key Takeaway

Homes in Wheeling have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Wheeling was $289,500 in December 2024, up 6.2% from last year, and the median price per square foot was $206.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $146K$147K
+0.7%
2 $229.9K$240K
+4.4%
3 $291K$325K
+11.7%
4 $395K$482.5K
+22.2%
5+ $527.5K$410K
-22.3%

Summary: Wheeling housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.7%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 22.3%.

Median Sold Price Compared To Nearby Cities

Buffalo Grove
+8.7%
Wheeling
+6.2%
Wheeling Township
+5.9%
Arlington Heights
+4.5%
Prospect Heights
-1.7%

Housing Supply in Wheeling, IL

How many homes are available in Wheeling, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
82820.0%

Summary: The Wheeling real estate market had 82 homes for sale in December 2024, the same as November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 78
+14.3%
2 3126
-16.1%
3 3134
+9.7%
4 1212
0.0%
5+ 12
+100.0%

Summary: The Wheeling housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 16.1%, 3 bedroom homes increased by 9.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
2723-14.8%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wheeling, you may be able to get a good deal. 43.5% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Wheeling in December 2024, down by 14.8% month-over-month. Of the 23 sold homes, 43% were sold under asking, 22% were sold at asking, and 35% were sold over asking.

Days on Market for Wheeling, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
19 Days22 Days+13.1%

Summary: Homes in Wheeling had an average of 22 days on market in Dec 2024, up by 13.1% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 23 homes were sold in Wheeling; 74% of homes were sold within 30 days, 22% 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 4 Days Ago

Newest Listings in Wheeling, IL

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