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 April 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

$327,819

$178/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$22,610(+7.4%)

Key Takeaway

Homes in Will County have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in Will County was $327,819 in April 2024, up 7.4% from last year, and the median price per square foot was $178.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $110K$120K
+9.1%
2 $227.1K$249.2K
+9.7%
3 $284.9K$304.9K
+7.0%
4 $401.8K$437.7K
+8.9%
5+ $501.2K$550K
+9.7%

Summary: Will County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 9.7%.

Median Sold Price Compared To Nearby Counties

Kankakee County
+11.8%
Kendall County
+10.6%
Will County
+7.4%
DuPage County
+6.4%
Cook County
+4.6%

Housing Supply in Will County, IL

How many homes are available in Will County, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
1,9412,278+17.4%

Summary: The Will County real estate market had 2,278 homes for sale in April 2024, a 17.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 2115
-28.6%
2 362395
+9.1%
3 757904
+19.4%
4 627757
+20.7%
5+ 174207
+19.0%

Summary: The Will County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 28.6%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 19%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
543607+11.8%

Asking Price vs. Sold Price

209 Homes Were Sold
Under Asking

121 Homes Were Sold
At Asking

277 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. 45.6% of homes here sold above asking price last month.

Summary: A total of 607 homes were sold or pending in Will County in April 2024, up by 11.8% month-over-month. Of the 607 sold homes, 34% were sold under asking, 20% were sold at asking, and 46% 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

Apr 2023Apr 2024CHANGE
25 Days19 Days-21.4%

Summary: Homes in Will County had an average of 19 days on market in Apr 2024, down by 21.4% compared to last year.

Breakdown of Home Sale Times

495 Homes Were Sold
Under 30 Days

83 Homes Were Sold
In 30 - 90 Days

29 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 April 2024, 607 homes were sold in Will County; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% 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 10 Days Ago

Newest Listings in Will County, IL

Nearby Markets to Will County, IL

What housing markets are near Will County, IL?