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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wheeling Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Wheeling Township, IL

How much do homes in Wheeling Township, IL cost?

Median Sold Price

$365,353

$228/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,830(+4.5%)

Key Takeaway

Homes in Wheeling Township have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Wheeling Township was $365,353 in November 2024, up 4.5% from last year, and the median price per square foot was $228.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $146K$156.5K
+7.2%
2 $230.3K$249.9K
+8.5%
3 $371.6K$400K
+7.6%
4 $511K$575K
+12.5%
5+ $604K$687.5K
+13.8%

Summary: Wheeling Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.2%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 13.8%.

Median Sold Price Compared To Nearby Cities

Mount Prospect
+5.9%
Arlington Heights
+4.9%
Wheeling Township
+4.5%
Wheeling
+4.3%
Prospect Heights
-5.0%

Housing Supply in Wheeling Township, IL

How many homes are available in Wheeling Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
473435-8.0%

Summary: The Wheeling Township real estate market had 435 homes for sale in November 2024, a 8.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 3128
-9.7%
2 148137
-7.4%
3 175161
-8.0%
4 9086
-4.4%
5+ 2923
-20.7%

Summary: The Wheeling Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.7%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes decreased by 20.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
160129-19.4%

Asking Price vs. Sold Price

68 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

45 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wheeling Township, you may be able to get a good deal. 52.7% of homes here sold below asking price last month.

Summary: A total of 129 homes were sold or pending in Wheeling Township in November 2024, down by 19.4% month-over-month. Of the 129 sold homes, 53% were sold under asking, 12% were sold at asking, and 35% were sold over asking.

Days on Market for Wheeling Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
12 Days21 Days+71.5%

Summary: Homes in Wheeling Township had an average of 21 days on market in Nov 2024, up by 71.5% compared to last year.

Breakdown of Home Sale Times

97 Homes Were Sold
Under 30 Days

26 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 129 homes were sold in Wheeling Township; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% 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 20 Days Ago

Newest Listings in Wheeling Township, IL

Nearby Markets to Wheeling Township, IL

What housing markets are near Wheeling Township, IL?