Is Wheeling, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Wheeling has remained a Seller's Market.
Housing Prices in Wheeling, IL
How much do homes in Wheeling, IL cost?
Median Sold Price
$274,533
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wheeling was $274,533 in May 2024, up 5.6% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $109K | $149.7K | +37.4% |
2 Bedrooms | $216K | $230K | +6.5% |
3 Bedrooms | $275K | $298K | +8.4% |
4 Bedrooms | $381.5K | $405K | +6.2% |
5+ Bedrooms | $536K | $440K | -17.9% |
Summary: Wheeling housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.4%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes decreased by 17.9%.
Median Sold Price Compared To Nearby Cities
Buffalo Grove | $356.2K | $394K | +10.6% |
Arlington Heights | $380.1K | $420.3K | +10.6% |
Wheeling | $260K | $274.5K | +5.6% |
Wheeling Township | $335.3K | $349.9K | +4.4% |
Prospect Heights | $295K | $278.8K | -5.5% |
Housing Supply in Wheeling, IL
How many homes are available in Wheeling, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
92 | 95 | +3.3% |
Summary: The Wheeling real estate market had 95 homes for sale in May 2024, a 3.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 4 | -33.3% |
2 Bedrooms | 38 | 36 | -5.3% |
3 Bedrooms | 42 | 45 | +7.1% |
4 Bedrooms | 4 | 9 | +125.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Wheeling housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 125%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
40 | 37 | -7.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Wheeling in May 2024, down by 7.5% month-over-month. Of the 37 sold homes, 32% were sold under asking, 14% were sold at asking, and 54% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 13 Days | +5.9% |
Summary: Homes in Wheeling had an average of 13 days on market in May 2024, up by 5.9% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 37 homes were sold in Wheeling; 95% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.