Home Values

Gurnee Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$224,600

  • 2.5% 1-year change
  • 1.1% 1-year forecast

Market Temperature

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

Cold

Buyers' Market
Sellers' Market

The median home value in Gurnee is $224,600. Gurnee home values have gone up 2.5% over the past year and Zillow predicts they will rise 1.1% within the next year. The median list price per square foot in Gurnee is $115, which is lower than the Chicago Metro average of $130. The median price of homes currently listed in Gurnee is $224,900 while the median price of homes that sold is $172,275. The median rent price in Gurnee is $1,600, which is lower than the Chicago Metro median of $1,629.

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 4.5%, which is lower than the national value of 6.3%. 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 20.5%, which is lower than Chicago Metro at 25.1%.

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Relative ZHVI
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Gurnee Market Overview

Data through Feb 28, 2015
  • $224,600 ZHVI
  • 1.1% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Feb 29, 2016)
  • $224,900 Median listing price
  • $172,275 Median sale price (Jan 31, 2015)
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Gurnee Market Health

Data through Feb 28, 2015
  • 1.2/10 Less healthy
    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
  • 20.5% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 4.5% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)
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Nearby Cities

Name Median ZHVI
Green Oaks $507,800
Libertyville $361,400
Wadsworth $268,100
Name Median ZHVI
Third Lake $226,600
Grayslake $179,200
Lindenhurst $172,100
Name Median ZHVI
Gages Lake $170,400
Waukegan $89,300
North Chicago $77,400

Listings & Sales

Data through Feb 28, 2015
  • $115 Median list price / sq ft
  • $113 Median sale price / sq ft (Jan 31, 2015)
  • 18.2% Listings with price cut
56.0%
Sold below listing
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Gurnee Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,812 Gurnee
    $1,600 Chicago Metro
    $1,355 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,600 Rent list price
  • $1.07 Rent list price / sq ft
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