Is North Chicago, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Chicago is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, North Chicago was a Seller's Market.

Key Takeaway

North Chicago is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in North Chicago, IL

How much do homes in North Chicago, IL cost?

Median Sold Price

$190,950

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$20,950(+12.3%)

Key Takeaway

Homes in North Chicago have sold for 12.3% more than they did a year ago.

Summary: The median home sold price in North Chicago was $190,950 in September 2024, up 12.3% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $96K$122K
+27.1%
2 $156K$185K
+18.6%
3 $177.4K$192.9K
+8.7%
4 $173K$202.4K
+17.0%
5+ $199.2K$237K
+18.9%

Summary: North Chicago housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.1%, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 18.9%.

Median Sold Price Compared To Nearby Cities

Shields Township
+39.2%
Lake Bluff
+21.1%
North Chicago
+12.3%
Waukegan Township
+10.4%

Housing Supply in North Chicago, IL

How many homes are available in North Chicago, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4244+4.8%

Summary: The North Chicago real estate market had 44 homes for sale in September 2024, a 4.8% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 23
+50.0%
2 76
-14.3%
3 1716
-5.9%
4 1212
0.0%
5+ 47
+75.0%

Summary: The North Chicago housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
104-60.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Chicago, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in North Chicago in September 2024, down by 60.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% 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

Sep 2023Sep 2024CHANGE
13 Days29 Days+116.4%

Summary: Homes in North Chicago had an average of 29 days on market in Sep 2024, up by 116.4% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 4 homes were sold in North Chicago; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% 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 5 Days Ago

Newest Listings in North Chicago, IL

Nearby Markets to North Chicago, IL

What housing markets are near North Chicago, IL?