Is Will County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Will County has remained a Seller's Market.
Housing Prices in Will County, IL
How much do homes in Will County, IL cost?
Median Sold Price
$324,690
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Will County was $324,690 in February 2024, up 7.3% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $116.5K | +5.9% |
2 Bedrooms | $225K | $244.9K | +8.9% |
3 Bedrooms | $281.3K | $300.2K | +6.7% |
4 Bedrooms | $400.6K | $429.8K | +7.3% |
5+ Bedrooms | $495.9K | $541.2K | +9.1% |
Summary: Will County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Counties
Kendall County | $300K | $331.5K | +10.5% |
Will County | $302.5K | $324.6K | +7.3% |
Kankakee County | $183.8K | $193.9K | +5.5% |
DuPage County | $360.5K | $376.5K | +4.4% |
Cook County | $309.6K | $315.6K | +1.9% |
Housing Supply in Will County, IL
How many homes are available in Will County, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1,594 | 1,801 | +13.0% |
Summary: The Will County real estate market had 1,801 homes for sale in February 2024, a 13.0% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 21 | +50.0% |
2 Bedrooms | 309 | 347 | +12.3% |
3 Bedrooms | 593 | 643 | +8.4% |
4 Bedrooms | 537 | 607 | +13.0% |
5+ Bedrooms | 141 | 183 | +29.8% |
Summary: The Will County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 29.8%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
454 | 410 | -9.7% |
Asking Price vs. Sold Price
187 Homes Were Sold
Under Asking
74 Homes Were Sold
At Asking
149 Homes Were Sold
Over Asking
Summary: A total of 410 homes were sold or pending in Will County in February 2024, down by 9.7% month-over-month. Of the 410 sold homes, 46% were sold under asking, 18% were sold at asking, and 36% were sold over asking.
Days on Market for Will County, IL
How long does it take to sell a home in Will County, IL?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
36 Days | 31 Days | -14.2% |
Summary: Homes in Will County had an average of 31 days on market in Feb 2024, down by 14.2% compared to last year.
Breakdown of Home Sale Times
269 Homes Were Sold
Under 30 Days
101 Homes Were Sold
In 30 - 90 Days
40 Homes Were Sold
Over 90 Days
Summary: During February 2024, 410 homes were sold in Will County; 66% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.