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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Waukegan Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Waukegan Township, IL

How much do homes in Waukegan Township, IL cost?

Median Sold Price

$211,600

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$21,625(+11.4%)

Key Takeaway

Homes in Waukegan Township have sold for 11.4% more than they did a year ago.

Summary: The median home sold price in Waukegan Township was $211,600 in May 2024, up 11.4% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $63K$72K
+14.3%
2 $170K$182.5K
+7.4%
3 $200K$220K
+10.0%
4 $218.5K$235K
+7.6%
5+ $222.5K$230K
+3.4%

Summary: Waukegan Township 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 7.4%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 3.4%.

Median Sold Price Compared To Nearby Cities

Waukegan
+12.5%
Waukegan Township
+11.4%
North Chicago
+7.4%
Beach Park
+1.2%

Housing Supply in Waukegan Township, IL

How many homes are available in Waukegan Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
132150+13.6%

Summary: The Waukegan Township real estate market had 150 homes for sale in May 2024, a 13.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 2731
+14.8%
3 6370
+11.1%
4 2931
+6.9%
5+ 1116
+45.5%

Summary: The Waukegan Township 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 14.8%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 45.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4441-6.8%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Waukegan Township, you may be able to get a good deal. 46.3% of homes here sold below asking price last month.

Summary: A total of 41 homes were sold or pending in Waukegan Township in May 2024, down by 6.8% month-over-month. Of the 41 sold homes, 46% were sold under asking, 20% were sold at asking, and 34% were sold over asking.

Days on Market for Waukegan Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
34 Days23 Days-30.8%

Summary: Homes in Waukegan Township had an average of 23 days on market in May 2024, down by 30.8% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 41 homes were sold in Waukegan Township; 73% of homes were sold within 30 days, 22% 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 1 Day Ago

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