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 October 2021

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.

How much do homes in Wheeling, IL cost?

Median Sold Price

$246,125

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$17,125(+7.5%)

Key Takeaway

Homes in Wheeling have sold for 7.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $132K$112.9K
-14.5%
2 $177K$210K
+18.6%
3 $244.6K$265.6K
+8.6%
4 $361.5K$375K
+3.7%
5+ $345K$397.5K
+15.2%

Median Sold Price Compared To Nearby Cities

Wheeling
+7.5%
Buffalo Grove
+6.2%
Wheeling Township
+4.0%
Arlington Heights
+3.4%
Prospect Heights
-13.2%

How many homes are available in Wheeling, IL?

Number of Homes For Sale

Sep 2022Oct 2022%
111112+0.9%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 45
+25.0%
2 3431
-8.8%
3 6065
+8.3%
4 1110
-9.1%
5+ 21
-50.0%

Number of Homes Sold

Sep 2022Oct 2022%
3633-8.3%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

6 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. 53.1% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
28 Days13 Days-53.2%

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

5 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Wheeling, IL

Wheeling, IL has 112 homes for sale to choose from. The number of homes for sale in Wheeling, IL increased by 0.9% between September 2022 and October 2022. While the average time on the market in October 2022 was 13 days, the median list price was $246,125. This housing market listing prices have changed between September 2022 and October 2022: prices of 1 bedroom properties decreased by 14.5%, prices of 2 bedrooms properties went up by 18.6%, 3 bedrooms properties became 8.6% more expensive, 4 bedrooms properties prices increased by 3.7%, the cost of 5 bedrooms properties went up by 15.2%. Housing inventory have changed in this real estate market: 1 bedroom homes became 25% more available, number of 2 bedrooms homes decreased by 8.8%, the quantity of 3 bedrooms homes went up by 8.3%, number of 4 bedrooms homes decreased by 9.1%, the quantity of 5 bedrooms homes went down by 50%. In October 2022, from all listings sold in Wheeling, IL there were more than 9 sold above asking price, over 17 sold below and more than 6 were sold right at the asked price.

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