Is Will County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Will County is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

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

+$22,166(+7.3%)

Key Takeaway

Homes in Will County have sold for 7.3% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $110K$116.5K
+5.9%
2 $225K$244.9K
+8.9%
3 $281.3K$300.2K
+6.7%
4 $400.6K$429.8K
+7.3%
5+ $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
+10.5%
Will County
+7.3%
Kankakee County
+5.5%
DuPage County
+4.4%
Cook County
+1.9%

Housing Supply in Will County, IL

How many homes are available in Will County, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,5941,801+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

# BEDSJan 2024Feb 2024CHANGE
1 1421
+50.0%
2 309347
+12.3%
3 593643
+8.4%
4 537607
+13.0%
5+ 141183
+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 2024Feb 2024CHANGE
454410-9.7%

Asking Price vs. Sold Price

187 Homes Were Sold
Under Asking

74 Homes Were Sold
At Asking

149 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Will County, you may be able to get a good deal. 45.6% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
36 Days31 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 27 Days Ago

Newest Listings in Will County, IL

Nearby Markets to Will County, IL

What housing markets are near Will County, IL?