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 November 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

$282,333

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$11,583(+4.3%)

Key Takeaway

Homes in Wheeling have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in Wheeling was $282,333 in November 2024, up 4.3% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $145K$147K
+1.4%
2 $216K$235K
+8.8%
3 $290K$320K
+10.3%
4 $400K$468.7K
+17.2%
5+ $527.5K$402.5K
-23.7%

Summary: Wheeling housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 17.2%, and 5+ bedroom homes decreased by 23.7%.

Median Sold Price Compared To Nearby Cities

Buffalo Grove
+9.5%
Arlington Heights
+4.9%
Wheeling Township
+4.5%
Wheeling
+4.3%
Prospect Heights
-5.0%

Housing Supply in Wheeling, IL

How many homes are available in Wheeling, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
104103-1.0%

Summary: The Wheeling real estate market had 103 homes for sale in November 2024, a 1.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 67
+16.7%
2 4234
-19.0%
3 4146
+12.2%
4 1314
+7.7%
5+ 22
0.0%

Summary: The Wheeling housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 19%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2925-13.8%

Asking Price vs. Sold Price

14 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 Wheeling, you may be able to get a good deal. 56% of homes here sold below asking price last month.

Summary: A total of 25 homes were sold or pending in Wheeling in November 2024, down by 13.8% month-over-month. Of the 25 sold homes, 56% were sold under asking, 12% were sold at asking, and 32% 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

Nov 2023Nov 2024CHANGE
9 Days20 Days+120.8%

Summary: Homes in Wheeling had an average of 20 days on market in Nov 2024, up by 120.8% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

6 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 November 2024, 25 homes were sold in Wheeling; 72% of homes were sold within 30 days, 24% 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 2 Days Ago

Newest Listings in Wheeling, IL

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