Is Will County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$330,095
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Will County was $330,095 in May 2024, up 7.5% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $128K | +16.4% |
2 Bedrooms | $228.8K | $250K | +9.2% |
3 Bedrooms | $285K | $306.2K | +7.5% |
4 Bedrooms | $403.5K | $437.9K | +8.5% |
5+ Bedrooms | $499.9K | $550K | +10.0% |
Summary: Will County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.4%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Counties
Kendall County | $304.2K | $339.8K | +11.7% |
Kankakee County | $179.9K | $200.3K | +11.3% |
Will County | $307.1K | $330K | +7.5% |
DuPage County | $359.9K | $385.3K | +7.0% |
Cook County | $304.9K | $324.7K | +6.5% |
Housing Supply in Will County, IL
How many homes are available in Will County, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2,209 | 2,591 | +17.3% |
Summary: The Will County real estate market had 2,591 homes for sale in May 2024, a 17.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 16 | 20 | +25.0% |
2 Bedrooms | 394 | 438 | +11.2% |
3 Bedrooms | 877 | 1,053 | +20.1% |
4 Bedrooms | 729 | 868 | +19.1% |
5+ Bedrooms | 193 | 212 | +9.8% |
Summary: The Will County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 20.1%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes increased by 9.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
648 | 683 | +5.4% |
Asking Price vs. Sold Price
222 Homes Were Sold
Under Asking
129 Homes Were Sold
At Asking
332 Homes Were Sold
Over Asking
Summary: A total of 683 homes were sold or pending in Will County in May 2024, up by 5.4% month-over-month. Of the 683 sold homes, 33% were sold under asking, 19% were sold at asking, and 49% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 16 Days | -22.7% |
Summary: Homes in Will County had an average of 16 days on market in May 2024, down by 22.7% compared to last year.
Breakdown of Home Sale Times
563 Homes Were Sold
Under 30 Days
106 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During May 2024, 683 homes were sold in Will County; 82% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.