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 seller's market

Buyer's
Market

Difference Since October 2021

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.

How much do homes in North Chicago, IL cost?

Median Sold Price

$169,000

$137/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$23,000(+15.8%)

Key Takeaway

Homes in North Chicago have sold for 15.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $75K$94.2K
+25.7%
2 $144.5K$151K
+4.5%
3 $160K$176K
+10.0%
4 $147.4K$169.5K
+15.0%
5+ $145K$187.5K
+29.3%

Median Sold Price Compared To Nearby Cities

Green Oaks
+27.3%
North Chicago
+15.8%
Lake Bluff
+3.4%
Shields Township
+0.7%

How many homes are available in North Chicago, IL?

Number of Homes For Sale

Sep 2022Oct 2022%
65650.0%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 75
-28.6%
2 1617
+6.3%
3 2325
+8.7%
4 109
-10.0%
5+ 99
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
1415+7.1%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Chicago, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
48 Days22 Days-54.1%

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

3 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About North Chicago, IL

North Chicago, IL has 65 homes for sale to choose from. In October 2022 median list price was $169,000 and the average listing age was 22 days. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties prices increased by 25.7%, 2 bedrooms properties became 4.5% more expensive, prices of 3 bedrooms properties increased by 10%, prices of 4 bedrooms properties went up by 15%, the cost of 5 bedrooms properties went up by 29.3%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory decreased by 28.6%, number of 2 bedrooms homes increased by 6.3%, the quantity of 3 bedrooms homes went up by 8.7%, 4 bedrooms homes inventory decreased by 10%, number of 5 bedrooms homes remained the same. While more than 3 listings in North Chicago, IL in October 2022 were sold above asking price, there were more than 4 listings sold at asking price, and more than 8 were sold below.

Related Housing Market Reports