Is Wheaton, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wheaton is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Wheaton, IL

How much do homes in Wheaton, IL cost?

Median Sold Price

$421,000

$229/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$37,475(+9.8%)

Key Takeaway

Homes in Wheaton have sold for 9.8% more than they did a year ago.

Summary: The median home sold price in Wheaton was $421,000 in February 2024, up 9.8% from last year, and the median price per square foot was $229.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $126K$190K
+50.8%
2 $208K$222K
+6.7%
3 $346.6K$380.5K
+9.8%
4 $570.3K$582.5K
+2.1%
5+ $675K$712.4K
+5.5%

Summary: Wheaton housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50.8%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 5.5%.

Median Sold Price Compared To Nearby Cities

Winfield
+12.0%
Wheaton
+9.8%
Milton Township
+5.7%
Carol Stream
+5.3%
Glen Ellyn
0.0%

Housing Supply in Wheaton, IL

How many homes are available in Wheaton, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
90118+31.1%

Summary: The Wheaton real estate market had 118 homes for sale in February 2024, a 31.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 03
+100.0%
2 1926
+36.8%
3 3040
+33.3%
4 3036
+20.0%
5+ 1113
+18.2%

Summary: The Wheaton 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 36.8%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 18.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2432+33.3%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wheaton, you could pay more than the asking price. 59.4% of homes here sold above asking price last month.

Summary: A total of 32 homes were sold or pending in Wheaton in February 2024, up by 33.3% month-over-month. Of the 32 sold homes, 25% were sold under asking, 16% were sold at asking, and 59% were sold over asking.

Days on Market for Wheaton, IL

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

Average Sale Time

Feb 2023Feb 2024CHANGE
24 Days11 Days-53.3%

Summary: Homes in Wheaton had an average of 11 days on market in Feb 2024, down by 53.3% compared to last year.

Breakdown of Home Sale Times

30 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 Wheaton are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 32 homes were sold in Wheaton; 94% of homes were sold within 30 days, 6% 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 28 Days Ago

Newest Listings in Wheaton, IL

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