Is North Chicago, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Chicago is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in North Chicago, IL

How much do homes in North Chicago, IL cost?

Median Sold Price

$185,000

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$15,000(+8.8%)

Key Takeaway

Homes in North Chicago have sold for 8.8% more than they did a year ago.

Summary: The median home sold price in North Chicago was $185,000 in April 2024, up 8.8% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $94.2K$107K
+13.5%
2 $151K$172.5K
+14.2%
3 $165K$210K
+27.3%
4 $180K$175K
-2.8%
5+ $196.7K$214.7K
+9.1%

Summary: North Chicago housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.5%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 27.3%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 9.1%.

Median Sold Price Compared To Nearby Cities

Shields Township
+12.6%
Waukegan Township
+12.0%
North Chicago
+8.8%
Lake Bluff
-3.2%

Housing Supply in North Chicago, IL

How many homes are available in North Chicago, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2531+24.0%

Summary: The North Chicago real estate market had 31 homes for sale in April 2024, a 24.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 43
-25.0%
2 44
0.0%
3 611
+83.3%
4 68
+33.3%
5+ 55
0.0%

Summary: The North Chicago housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 83.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
97-22.2%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Chicago, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in North Chicago in April 2024, down by 22.2% month-over-month. Of the 7 sold homes, 14% were sold under asking, 29% were sold at asking, and 57% were sold over asking.

Days on Market for North Chicago, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
16 Days12 Days-27.5%

Summary: Homes in North Chicago had an average of 12 days on market in Apr 2024, down by 27.5% compared to last year.

Breakdown of Home Sale Times

7 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 North Chicago are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 7 homes were sold in North Chicago; 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 22 Days Ago

Newest Listings in North Chicago, IL

Nearby Markets to North Chicago, IL

What housing markets are near North Chicago, IL?