Is Will County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Will County is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Will County, IL

How much do homes in Will County, IL cost?

Median Sold Price

$339,984

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,858(+7.9%)

Key Takeaway

Homes in Will County have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in Will County was $339,984 in October 2024, up 7.9% from last year, and the median price per square foot was $185.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $111K$130K
+17.1%
2 $240K$259.9K
+8.3%
3 $295K$315K
+6.8%
4 $415.7K$449.2K
+8.0%
5+ $510K$570.7K
+11.9%

Summary: Will County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 11.9%.

Median Sold Price Compared To Nearby Counties

Kankakee County
+10.8%
Kendall County
+10.2%
DuPage County
+8.6%
Cook County
+8.0%
Will County
+7.9%

Housing Supply in Will County, IL

How many homes are available in Will County, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2,4072,713+12.7%

Summary: The Will County real estate market had 2,713 homes for sale in October 2024, a 12.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 2426
+8.3%
2 458523
+14.2%
3 9591,078
+12.4%
4 773870
+12.5%
5+ 193216
+11.9%

Summary: The Will County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 11.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
650682+4.9%

Asking Price vs. Sold Price

315 Homes Were Sold
Under Asking

134 Homes Were Sold
At Asking

233 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Will County, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 682 homes were sold or pending in Will County in October 2024, up by 4.9% month-over-month. Of the 682 sold homes, 46% were sold under asking, 20% were sold at asking, and 34% were sold over asking.

Days on Market for Will County, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days23 Days+15.1%

Summary: Homes in Will County had an average of 23 days on market in Oct 2024, up by 15.1% compared to last year.

Breakdown of Home Sale Times

518 Homes Were Sold
Under 30 Days

137 Homes Were Sold
In 30 - 90 Days

27 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 682 homes were sold in Will County; 76% of homes were sold within 30 days, 20% 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 20 Days Ago

Newest Listings in Will County, IL

Nearby Markets to Will County, IL

What housing markets are near Will County, IL?