Is Wheeling, 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, Wheeling has remained a Seller's Market.
Housing Prices in Wheeling, IL
How much do homes in Wheeling, IL cost?
Median Sold Price
$272,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Wheeling was $272,000 in March 2024, up 6% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $109K | $160K | +46.8% |
2 Bedrooms | $215K | $230K | +7.0% |
3 Bedrooms | $271K | $295K | +8.9% |
4 Bedrooms | $381.5K | $407.5K | +6.8% |
5+ Bedrooms | $366K | $527.5K | +44.1% |
Summary: Wheeling housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.8%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 44.1%.
Median Sold Price Compared To Nearby Cities
Arlington Heights | $383.3K | $410.5K | +7.1% |
Prospect Heights | $267.5K | $285K | +6.5% |
Wheeling | $256.5K | $272K | +6.0% |
Buffalo Grove | $360.4K | $375K | +4.1% |
Wheeling Township | $334.9K | $346.7K | +3.5% |
Housing Supply in Wheeling, IL
How many homes are available in Wheeling, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
74 | 95 | +28.4% |
Summary: The Wheeling real estate market had 95 homes for sale in March 2024, a 28.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 7 | +40.0% |
2 Bedrooms | 30 | 39 | +30.0% |
3 Bedrooms | 36 | 43 | +19.4% |
4 Bedrooms | 0 | 3 | +100.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Wheeling housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 25 | +8.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Wheeling in March 2024, up by 8.7% month-over-month. Of the 25 sold homes, 40% were sold under asking, 12% were sold at asking, and 48% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
18 Days | 43 Days | +131.3% |
Summary: Homes in Wheeling had an average of 43 days on market in Mar 2024, up by 131.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 25 homes were sold in Wheeling; 68% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.