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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wheeling is a seller's market

Buyer's
Market

Difference Since November 2022

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

Key Takeaway

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

Housing Prices in Wheeling, IL

How much do homes in Wheeling, IL cost?

Median Sold Price

$270,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

+$20,400(+8.2%)

Key Takeaway

Homes in Wheeling have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in Wheeling was $270,000 in November 2023, up 8.2% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $110.9K$145K
+30.7%
2 $211.2K$216K
+2.2%
3 $270K$290K
+7.4%
4 $355K$400K
+12.7%
5+ $397.5K$527.5K
+32.7%

Summary: Wheeling housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 30.7%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 32.7%.

Median Sold Price Compared To Nearby Cities

Prospect Heights
+27.2%
Arlington Heights
+8.6%
Wheeling
+8.2%
Wheeling Township
+7.6%
Buffalo Grove
+5.8%

Housing Supply in Wheeling, IL

How many homes are available in Wheeling, IL?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
91103+13.2%

Summary: The Wheeling real estate market had 103 homes for sale in November 2023, a 13.2% increase compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 79
+28.6%
2 3541
+17.1%
3 3743
+16.2%
4 97
-22.2%
5+ 33
0.0%

Summary: The Wheeling housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 16.2%, 4 bedroom homes decreased by 22.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
23230.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wheeling, you may be able to get a good deal. 43.5% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Wheeling in November 2023, the same as the previous month. Of the 23 sold homes, 43% were sold under asking, 17% were sold at asking, and 39% were sold over asking.

Days on Market for Wheeling, IL

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

Average Sale Time

Nov 2022Nov 2023CHANGE
29 Days8 Days-71.7%

Summary: Homes in Wheeling had an average of 8 days on market in Nov 2023, down by 71.7% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2023, 23 homes were sold in Wheeling; 100% of homes were sold within 30 days, 0% 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 1 Day Ago

Newest Listings in Wheeling, IL

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