Is Gurnee, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$338,666
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $118K | $135K | +14.4% |
2 Bedrooms | $198K | $220K | +11.1% |
3 Bedrooms | $302.9K | $314.5K | +3.8% |
4 Bedrooms | $400K | $427K | +6.8% |
5+ Bedrooms | $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 | $200K | $223.7K | +11.9% |
Warren Township | $304.2K | $338K | +11.1% |
Gurnee | $325K | $338.6K | +4.2% |
Housing Supply in Gurnee, IL
How many homes are available in Gurnee, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
81 | 88 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 20 | 20 | 0.0% |
3 Bedrooms | 32 | 31 | -3.1% |
4 Bedrooms | 18 | 28 | +55.6% |
5+ Bedrooms | 9 | 7 | -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 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 30 | +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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 32 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
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.