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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gurnee is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Gurnee, IL

How much do homes in Gurnee, IL cost?

Median Sold Price

$338,666

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$13,666(+4.2%)

Key Takeaway

Homes in Gurnee have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in Gurnee was $338,666 in March 2024, up 4.2% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $118K$135K
+14.4%
2 $198K$220K
+11.1%
3 $302.9K$314.5K
+3.8%
4 $400K$427K
+6.8%
5+ $537.5K$499K
-7.2%

Summary: Gurnee housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 7.2%.

Median Sold Price Compared To Nearby Cities

Waukegan
+11.9%
Warren Township
+11.1%
Gurnee
+4.2%

Housing Supply in Gurnee, IL

How many homes are available in Gurnee, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
8188+8.6%

Summary: The Gurnee real estate market had 88 homes for sale in March 2024, a 8.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 2020
0.0%
3 3231
-3.1%
4 1828
+55.6%
5+ 97
-22.2%

Summary: The Gurnee housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 55.6%, and 5+ bedroom homes decreased by 22.2%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2530+20.0%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gurnee, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in Gurnee in March 2024, up by 20.0% month-over-month. Of the 30 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% 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

Mar 2023Mar 2024CHANGE
30 Days32 Days+5.0%

Summary: Homes in Gurnee had an average of 32 days on market in Mar 2024, up by 5% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 30 homes were sold in Gurnee; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% 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 25 Days Ago

Newest Listings in Gurnee, IL

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