How Competitive is the Grayslake, IL Housing Market?

by Christopher Paul

Grayslake, a city near Chicago, IL, is a highly competitive housing market. About 59% of homes sold above list price in the 3 months ending June 2026, with homes selling at 101% of asking on average.

34128 N Wooded Glen Dr

The National Picture

Across the U.S., 24.6% of homes sold above list price in June 2026. Grayslake more than doubles that rate at 59.7%, making it one of the more intense markets in the Chicago metro. The national sale-to-list ratio of 98.3% also pales next to the local 101.3%.

Three-Quarters of Listings Go Pending in Two Weeks

An extraordinary 76% of Grayslake listings went under contract within two weeks—the highest off-market rate in this entire metro comparison. Combined with a 60% sold-above rate, the data points to a market where hesitation costs buyers opportunities. Nearby Round Lake (65% off-market) shows a similar pace, but Grayslake's higher price point ($395,000 vs. $305,000) makes its speed all the more notable.

Why is Grayslake Highly Competitive?

Grayslake is highly competitive because buyers outnumber available homes by a wide margin, driving most sales above asking price. At 2.5 months of supply, the market tilts firmly toward sellers. Price drops affect just 15% of active listings, showing most sellers price accurately. The pace remains fast at 42 days, unchanged from a year ago.

Nearby Neighborhoods

Neighborhood	Sold Above List	Sale-to-List	Days on Market	Off Mkt in 2 Wks
Grayslake	59.7%	101.3%	42 days	75.7%
Round Lake, IL	45.8%	100.1%	44 days	64.7%
Mundelein, IL	45.3%	100.5%	49 days	63.0%
Buffalo Grove, IL	56.5%	100.7%	47 days	63.0%
Fox Lake, IL	35.1%	98.7%	49 days	57.5%
Highland Park, IL	56.5%	104.1%	35 days	60.8%

Limited to neighborhoods with at least 10 home sales in the period.

All data comes from Redfin and represents a three-month rolling average ending June 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.