Is Gurnee, 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, Gurnee has remained a Seller's Market.
Housing Prices in Gurnee, IL
How much do homes in Gurnee, IL cost?
Median Sold Price
$337,083
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Gurnee was $337,083 in May 2024, up 3.7% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $122.4K | $140K | +14.3% |
2 Bedrooms | $200.5K | $220K | +9.7% |
3 Bedrooms | $300K | $315K | +5.0% |
4 Bedrooms | $400.5K | $427K | +6.6% |
5+ Bedrooms | $515K | $500K | -2.9% |
Summary: Gurnee 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 9.7%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
Waukegan | $200K | $224.9K | +12.5% |
Third Lake | $323K | $354.5K | +9.8% |
Warren Township | $310K | $336.2K | +8.5% |
Gurnee | $325K | $337K | +3.7% |
Housing Supply in Gurnee, IL
How many homes are available in Gurnee, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
91 | 116 | +27.5% |
Summary: The Gurnee real estate market had 116 homes for sale in May 2024, a 27.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 16 | 24 | +50.0% |
3 Bedrooms | 35 | 42 | +20.0% |
4 Bedrooms | 31 | 42 | +35.5% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Gurnee housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 35.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
33 | 27 | -18.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Gurnee in May 2024, down by 18.2% month-over-month. Of the 27 sold homes, 22% were sold under asking, 7% were sold at asking, and 70% were sold over asking.
Days on Market for Gurnee, IL
How long does it take to sell a home in Gurnee, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 8 Days | -25.4% |
Summary: Homes in Gurnee had an average of 8 days on market in May 2024, down by 25.4% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 27 homes were sold in Gurnee; 96% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.