Wheaton, IL Market Snapshot

Wheaton, IL

Single Family Homes Sales, Prices and Inventory

Each data point is 12 months of activity.

Number of Home Sales

The real estate market in Wheaton continues to be strong at nearly all price points. Despite high buyer demand, the number of single family home sales in Wheaton has slightly decreased in the past year. This is due to constrained inventory - too few houses for sale - rather than a softening of the market.  

Average Sales Price

In Wheaton over the past year, the average sales price of about $430,000 increased by about 1.3%. Lower-priced homes sold for an average of just under $250,000 in the past year. The price of homes in the middle range of $300,000 to $500,000 increased by about 1.5% for an average of about $400,000.

Average Market Time

Market time is the number of days that a house was on the market when it went under contract. Over the past year, homes priced below $500,000 went under contract in an average of about 80 days, while homes priced over $500,000 were on the market an average of 3 to 4 months before selling. 

Average Months Supply

For several years Wheaton has been a solid seller's market for all but the most expensive homes. Despite an increase in the past year, the overall month's supply of about 5 months is one of the lowest in the western suburbs.

Under 4 months of supply indicates a seller's market with more active buyers than there are homes for sale, so sellers have the upper hand in pricing and negotiating. More than 7 months of supply shows a buyer's market with more homes for sale than active buyers, so buyers can expect to negotiate for more favorable deals. A balanced market with 4 to 6 months of inventory generally has steady sales and prices. 

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