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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wayne Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Wayne Township, IL

How much do homes in Wayne Township, IL cost?

Median Sold Price

$370,000

$202/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$25,000(+7.2%)

Key Takeaway

Homes in Wayne Township have sold for 7.2% more than they did a year ago.

Summary: The median home sold price in Wayne Township was $370,000 in March 2024, up 7.2% from last year, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $225K$150K
-33.3%
2 $255K$280.9K
+10.2%
3 $315K$345K
+9.5%
4 $429.9K$479.9K
+11.6%
5+ $545K$548.8K
+0.7%

Summary: Wayne Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 0.7%.

Median Sold Price Compared To Nearby Cities

West Chicago
+15.1%
Hanover Park
+7.7%
Wayne Township
+7.2%
Bartlett
+5.7%

Housing Supply in Wayne Township, IL

How many homes are available in Wayne Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
106142+34.0%

Summary: The Wayne Township real estate market had 142 homes for sale in March 2024, a 34.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1521
+40.0%
3 4760
+27.7%
4 3651
+41.7%
5+ 810
+25.0%

Summary: The Wayne Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 27.7%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2752+92.6%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

34 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wayne Township, you could pay more than the asking price. 65.4% of homes here sold above asking price last month.

Summary: A total of 52 homes were sold or pending in Wayne Township in March 2024, up by 92.6% month-over-month. Of the 52 sold homes, 27% were sold under asking, 8% were sold at asking, and 65% were sold over asking.

Days on Market for Wayne Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
35 Days11 Days-67.9%

Summary: Homes in Wayne Township had an average of 11 days on market in Mar 2024, down by 67.9% compared to last year.

Breakdown of Home Sale Times

50 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 52 homes were sold in Wayne Township; 96% of homes were sold within 30 days, 2% of homes were sold within 30 to 90 days, and 2% 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 20 Days Ago

Newest Listings in Wayne Township, IL

Nearby Markets to Wayne Township, IL

What housing markets are near Wayne Township, IL?