Is Grayslake, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Grayslake is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Grayslake, IL

How much do homes in Grayslake, IL cost?

Median Sold Price

$296,203

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$6,203(+2.1%)

Key Takeaway

Homes in Grayslake have sold for 2.1% more than they did a year ago.

Summary: The median home sold price in Grayslake was $296,203 in October 2024, up 2.1% from last year, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $114.4K$110K
-3.9%
2 $215.2K$235K
+9.2%
3 $295.2K$305K
+3.3%
4 $415K$439.9K
+6.0%
5+ $374.9K$491K
+31.0%

Summary: Grayslake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.9%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 31%.

Median Sold Price Compared To Nearby Cities

Round Lake Beach
+10.5%
Avon Township
+9.1%
Grayslake
+2.1%
Hainesville
-3.4%

Housing Supply in Grayslake, IL

How many homes are available in Grayslake, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
138140+1.4%

Summary: The Grayslake real estate market had 140 homes for sale in October 2024, a 1.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 4949
0.0%
3 4851
+6.3%
4 3329
-12.1%
5+ 79
+28.6%

Summary: The Grayslake housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes increased by 28.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4246+9.5%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Grayslake, you may be able to get a good deal. 52.2% of homes here sold below asking price last month.

Summary: A total of 46 homes were sold or pending in Grayslake in October 2024, up by 9.5% month-over-month. Of the 46 sold homes, 52% were sold under asking, 15% were sold at asking, and 33% were sold over asking.

Days on Market for Grayslake, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days21 Days+1.4%

Summary: Homes in Grayslake had an average of 21 days on market in Oct 2024, up by 1.4% compared to last year.

Breakdown of Home Sale Times

37 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 46 homes were sold in Grayslake; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

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