Is Waukegan, 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, Waukegan has remained a Seller's Market.
Housing Prices in Waukegan, IL
How much do homes in Waukegan, IL cost?
Median Sold Price
$223,750
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Waukegan was $223,750 in March 2024, up 11.9% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65K | $72K | +10.9% |
2 Bedrooms | $174.9K | $182.7K | +4.5% |
3 Bedrooms | $205K | $225K | +9.8% |
4 Bedrooms | $238.5K | $265.5K | +11.3% |
5+ Bedrooms | $240K | $261.5K | +9.0% |
Summary: Waukegan housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 9%.
Median Sold Price Compared To Nearby Cities
Waukegan Township | $187K | $211.1K | +12.9% |
Waukegan | $200K | $223.7K | +11.9% |
Warren Township | $304.2K | $338K | +11.1% |
Beach Park | $245K | $245.4K | 0.2% |
Housing Supply in Waukegan, IL
How many homes are available in Waukegan, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
125 | 139 | +11.2% |
Summary: The Waukegan real estate market had 139 homes for sale in March 2024, a 11.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 24 | 32 | +33.3% |
3 Bedrooms | 44 | 57 | +29.5% |
4 Bedrooms | 41 | 34 | -17.1% |
5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The Waukegan housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 29.5%, 4 bedroom homes decreased by 17.1%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
41 | 39 | -4.9% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 39 homes were sold or pending in Waukegan in March 2024, down by 4.9% month-over-month. Of the 39 sold homes, 51% were sold under asking, 8% were sold at asking, and 41% were sold over asking.
Days on Market for Waukegan, IL
How long does it take to sell a home in Waukegan, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 30 Days | -33.1% |
Summary: Homes in Waukegan had an average of 30 days on market in Mar 2024, down by 33.1% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 39 homes were sold in Waukegan; 69% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.