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 May 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

$330,095

$179/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$22,983(+7.5%)

Key Takeaway

Homes in Will County have sold for 7.5% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 $110K$128K
+16.4%
2 $228.8K$250K
+9.2%
3 $285K$306.2K
+7.5%
4 $403.5K$437.9K
+8.5%
5+ $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
+11.7%
Kankakee County
+11.3%
Will County
+7.5%
DuPage County
+7.0%
Cook County
+6.5%

Housing Supply in Will County, IL

How many homes are available in Will County, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2,2092,591+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

# BEDSApr 2024May 2024CHANGE
1 1620
+25.0%
2 394438
+11.2%
3 8771,053
+20.1%
4 729868
+19.1%
5+ 193212
+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 2024May 2024CHANGE
648683+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Will County, you could pay more than the asking price. 48.6% of homes here sold above asking price last month.

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 2023May 2024CHANGE
21 Days16 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

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 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.

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

Report Updated 7 Days Ago

Newest Listings in Will County, IL

Nearby Markets to Will County, IL

What housing markets are near Will County, IL?