Is Mundelein, 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, Mundelein has remained a Seller's Market.
Housing Prices in Mundelein, IL
How much do homes in Mundelein, IL cost?
Median Sold Price
$367,833
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mundelein was $367,833 in May 2024, up 13.3% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $270K | $300K | +11.1% |
3 Bedrooms | $286K | $349K | +22.0% |
4 Bedrooms | $400.9K | $472K | +17.7% |
5+ Bedrooms | $513.7K | $547.7K | +6.6% |
Summary: Mundelein housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 22%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 6.6%.
Median Sold Price Compared To Nearby Cities
Mundelein | $324.6K | $367.8K | +13.3% |
Hawthorn Woods | $609K | $682.5K | +12.1% |
Libertyville | $499.9K | $540K | +8.0% |
Fremont Township | $368.2K | $391.9K | +6.4% |
Housing Supply in Mundelein, IL
How many homes are available in Mundelein, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
109 | 118 | +8.3% |
Summary: The Mundelein real estate market had 118 homes for sale in May 2024, a 8.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 21 | 26 | +23.8% |
3 Bedrooms | 51 | 51 | 0.0% |
4 Bedrooms | 29 | 31 | +6.9% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Mundelein housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 23.8%, 3 bedroom homes remained the same, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
41 | 43 | +4.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 43 homes were sold or pending in Mundelein in May 2024, up by 4.9% month-over-month. Of the 43 sold homes, 26% were sold under asking, 19% were sold at asking, and 56% were sold over asking.
Days on Market for Mundelein, IL
How long does it take to sell a home in Mundelein, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 16 Days | -64.4% |
Summary: Homes in Mundelein had an average of 16 days on market in May 2024, down by 64.4% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 43 homes were sold in Mundelein; 91% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.