Is North Chicago, 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, North Chicago has remained a Seller's Market.
Key Takeaway
North Chicago is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Chicago, IL
How much do homes in North Chicago, IL cost?
Median Sold Price
$185,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in North Chicago have sold for 11.3% more than they did a year ago.
Summary: The median home sold price in North Chicago was $185,000 in March 2024, up 11.3% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $93.5K | $107K | +14.4% |
| 2 Bedrooms | $151K | $175K | +15.9% |
| 3 Bedrooms | $167.2K | $197.8K | +18.3% |
| 4 Bedrooms | $173K | $195K | +12.7% |
| 5+ Bedrooms | $190.7K | $224.5K | +17.7% |
Summary: North Chicago 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 15.9%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 17.7%.
Median Sold Price Compared To Nearby Cities
| Waukegan Township | $187K | $211.1K | +12.9% |
| North Chicago | $166.1K | $185K | +11.3% |
| Shields Township | $599K | $607.9K | +1.5% |
| Lake Bluff | $720K | $570K | -20.8% |
Housing Supply in North Chicago, IL
How many homes are available in North Chicago, IL?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 30 | 28 | -6.7% |
Summary: The North Chicago real estate market had 28 homes for sale in March 2024, a 6.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 9 | 7 | -22.2% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The North Chicago housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Chicago, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in North Chicago in March 2024, the same as the previous month. Of the 8 sold homes, 25% were sold under asking, 38% were sold at asking, and 38% were sold over asking.
Days on Market for North Chicago, IL
How long does it take to sell a home in North Chicago, IL?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 19 Days | -59.4% |
Summary: Homes in North Chicago had an average of 19 days on market in Mar 2024, down by 59.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Chicago are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in North Chicago; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Midwest Real Estate Data as distributed by MLS GRID.
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