Is Waukegan, 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, Waukegan has remained a Seller's Market.
Housing Prices in Waukegan, IL
How much do homes in Waukegan, IL cost?
Median Sold Price
$224,991
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Waukegan was $224,991 in May 2024, up 12.5% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $63K | $72K | +14.3% |
2 Bedrooms | $173K | $190K | +9.8% |
3 Bedrooms | $205K | $225K | +9.8% |
4 Bedrooms | $237K | $268K | +13.1% |
5+ Bedrooms | $249.5K | $255K | +2.2% |
Summary: Waukegan housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
Waukegan | $200K | $224.9K | +12.5% |
Waukegan Township | $189.9K | $211.6K | +11.4% |
Warren Township | $310K | $336.2K | +8.5% |
Beach Park | $245K | $248K | +1.2% |
Housing Supply in Waukegan, IL
How many homes are available in Waukegan, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
131 | 150 | +14.5% |
Summary: The Waukegan real estate market had 150 homes for sale in May 2024, a 14.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 31 | 37 | +19.4% |
3 Bedrooms | 55 | 64 | +16.4% |
4 Bedrooms | 34 | 34 | 0.0% |
5+ Bedrooms | 9 | 13 | +44.4% |
Summary: The Waukegan housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 16.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 44.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
46 | 41 | -10.9% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 41 homes were sold or pending in Waukegan in May 2024, down by 10.9% month-over-month. Of the 41 sold homes, 37% were sold under asking, 22% were sold at asking, and 41% were sold over asking.
Days on Market for Waukegan, IL
How long does it take to sell a home in Waukegan, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
31 Days | 19 Days | -38.3% |
Summary: Homes in Waukegan had an average of 19 days on market in May 2024, down by 38.3% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 41 homes were sold in Waukegan; 80% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.