Is Warren Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Warren Township is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Warren Township, IL

How much do homes in Warren Township, IL cost?

Median Sold Price

$335,000

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$33,500(+11.1%)

Key Takeaway

Homes in Warren Township have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in Warren Township was $335,000 in February 2024, up 11.1% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $118K$135K
+14.4%
2 $192K$220K
+14.6%
3 $280K$305K
+8.9%
4 $395K$428K
+8.4%
5+ $495.6K$493K
-0.5%

Summary: Warren Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes decreased by 0.5%.

Median Sold Price Compared To Nearby Cities

Warren Township
+11.1%
Waukegan
+10.8%
Gurnee
+3.4%

Housing Supply in Warren Township, IL

How many homes are available in Warren Township, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
122119-2.5%

Summary: The Warren Township real estate market had 119 homes for sale in February 2024, a 2.5% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 02
+100.0%
2 2023
+15.0%
3 5043
-14.0%
4 3936
-7.7%
5+ 1315
+15.4%

Summary: The Warren Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 15%, 3 bedroom homes decreased by 14%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 15.4%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4135-14.6%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Warren Township, you may be able to get a good deal. 48.6% of homes here sold below asking price last month.

Summary: A total of 35 homes were sold or pending in Warren Township in February 2024, down by 14.6% month-over-month. Of the 35 sold homes, 49% were sold under asking, 17% were sold at asking, and 34% were sold over asking.

Days on Market for Warren Township, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
46 Days40 Days-13.5%

Summary: Homes in Warren Township had an average of 40 days on market in Feb 2024, down by 13.5% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 35 homes were sold in Warren Township; 51% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 17% 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 28 Days Ago

Newest Listings in Warren Township, IL

Nearby Markets to Warren Township, IL

What housing markets are near Warren Township, IL?