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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mundelein is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Mundelein, IL

How much do homes in Mundelein, IL cost?

Median Sold Price

$374,234

$191/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$67,859(+22.1%)

Key Takeaway

Homes in Mundelein have sold for 22.1% more than they did a year ago.

Summary: The median home sold price in Mundelein was $374,234 in March 2024, up 22.1% from last year, and the median price per square foot was $191.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $245K$300K
+22.4%
3 $275K$354.9K
+29.1%
4 $390K$475K
+21.8%
5+ $495K$540K
+9.1%

Summary: Mundelein housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 29.1%, 4 bedroom homes increased by 21.8%, and 5+ bedroom homes increased by 9.1%.

Median Sold Price Compared To Nearby Cities

Mundelein
+22.1%
Libertyville
+15.2%
Fremont Township
+9.4%
Hawthorn Woods
+6.9%
Indian Creek
+4.3%

Housing Supply in Mundelein, IL

How many homes are available in Mundelein, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
85109+28.2%

Summary: The Mundelein real estate market had 109 homes for sale in March 2024, a 28.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1623
+43.8%
3 3346
+39.4%
4 2327
+17.4%
5+ 1313
0.0%

Summary: The Mundelein 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 increased by 43.8%, 3 bedroom homes increased by 39.4%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2330+30.4%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mundelein, you may be able to get a good deal. 46.7% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in Mundelein in March 2024, up by 30.4% month-over-month. Of the 30 sold homes, 47% were sold under asking, 20% were sold at asking, and 33% were sold over asking.

Days on Market for Mundelein, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
17 Days28 Days+58.6%

Summary: Homes in Mundelein had an average of 28 days on market in Mar 2024, up by 58.6% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 30 homes were sold in Mundelein; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% 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 Mundelein, IL

Nearby Markets to Mundelein, IL

What housing markets are near Mundelein, IL?