Gurnee Home Prices & Values

$220,500 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 5.6% 1-year change
  • 1.3% 1-year forecast

Market Temperature: WarmWhat's This?
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Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Buyers' Market Sellers' Market

The median home value in Gurnee is $220,500. Gurnee home values have gone up 5.6% over the past year and Zillow predicts they will rise 1.3% within the next year. The median list price per square foot in Gurnee is $119, which is lower than the Chicago Metro average of $135. The median price of homes currently listed in Gurnee is $229,000 while the median price of homes that sold is $235,250. The median rent price in Gurnee is $1,450, which is lower than the Chicago Metro median of $1,550.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Gurnee is 4.9%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Gurnee homeowners underwater on their mortgage is 23.2%, which is lower than Chicago Metro at 27.1%.

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Relative ZHVI
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Gurnee Market Overview

Data through Aug 31, 2014
  • $220,500 ZHVI
  • 1.3% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Aug 31, 2015)
  • $229,000 Median listing price
  • $235,250 Median sale price
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Gurnee Market Health

Data through Aug 31, 2014
  • 1.1/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average days on Zillow
  • 23.2% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 4.9% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Green Oaks $542,800 Libertyville $370,300 Wadsworth $276,900
Third Lake $234,100 Grayslake $187,100 Lindenhurst $181,100
Gages Lake $175,000 Waukegan $96,700 North Chicago $83,900

Listings & Sales

Data through Aug 31, 2014
  • $119 Median list price / sq ft
  • $116 Median sale price / sq ft
  • 44.8% Listings with price cut
52.7%
Sold below listing
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Gurnee Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,840 Gurnee
$1,645 Chicago Metro
$1,328 United States
  • 2.1 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2014)
  • $1,450 Rent list price
  • $1.04 Rent list price / sq ft
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