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Featured local agent — Grayslake, IL
Sarah Mitchell
Compass Real Estate · Grayslake, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Grayslake, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$395,000median sale price
How is the Grayslake, IL housing market right now?
The median home sale price in Grayslake, IL is $395,000, up 27.6% year-over-year. Homes sell in an average of 48 days with 61 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Grayslake a buyer's or seller's market?
Grayslake, IL is currently a strong seller's market, based on 1.9 months of supply and homes selling in about 48 days. How we determine this →
Homes sold
32
Last 12 weeks
Days on market
48
Average pace
Active listings
61
1.9 months supply
Sale-to-list
101.7%
Above asking
What does the Grayslake housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $395,000 |
| Median list price | $435,000 |
| Year-over-year price change | +27.6% |
| Average days on market | 48 days |
| Active inventory | 61 listings |
| Months of supply | 1.9 months |
| Sale-to-list price ratio | 101.7% |
| Median price per sq ft | $230/sq ft |
| Homes sold (latest month) | 32 |
| New listings (latest month) | 41 |
| Listings with a price cut | 16.4% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Grayslake by property type?
How the Grayslake, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $430,000 | $242/sq ft | 23 | 50 days |
| Condo / Co-op | $212,000 | $185/sq ft | 1 | 35 days |
| Townhouse | $320,000 | $190/sq ft | 9 | 40 days |
Source: Redfin · Updated monthly
The Grayslake housing market is currently classified as a strong seller's market with a median sale price of $395,000. Prices have risen 27.6% compared to last year, with homes spending an average of 48 days on market, indicating 1.9 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.3x provides context for how home values compare to local earning capacity.
Homes for sale in Grayslake
There are currently 61 homes listed for sale in Grayslake, Illinois. The median listing price is $435K.
Active listings
61
Homes on market
Median list price
$435K
Avg. days on market
48
Days until sale
New this week
41
Newly listed
Who lives in Grayslake?
Population
20,707
Median income
$113,697/yr
Median age
35.9 years
Owner-occupied
76.3%
College grads
59.1%
Avg commute
27.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Grayslake?
Zillow home value
$376,258
Zillow rent index
$2,461/mo
Price-to-rent ratio
12.7x
Price-to-income
3.3x
Source: Zillow Research
What is it like to live in Grayslake?
Grayslake is a community of approximately 21K residents with a median age of 35.9 years.The median household income is $113,697, which reflects a relatively affluent area with strong earning potential. 59.1% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 76.3%, reflecting strong community stability and long-term resident commitment. The average commute time is 27.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Grayslake offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Grayslake?
9 schools tracked · 5,150 students
The largest public schools serving Grayslake, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Grayslake Central High School
Grades 9-12 · 1,375 students
Grayslake North High School
Grades 9-12 · 1,206 students
Grayslake Middle School
Grades 7-8 · 663 students
Frederick School
Grades 5-6 · 644 students
Woodview School
Grades K-4 · 455 students
Prairie Crossing Charter School
Grades K-8 · 432 students
Meadowview School
Grades K-4 · 375 students
Lake Co Collaborative Alop
Grades 7-12
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Grayslake, IL?
Want a head-to-head view? Compare Grayslake side-by-side with any other U.S. city using our market-comparison tool.
Is Grayslake a good real estate investment market?
For investors evaluating Grayslake, the price-to-rent ratio of 12.7x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has appreciated 27.6% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Grayslake's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Grayslake's median home price.
Frequently asked questions
What is the average home price in Grayslake?
The median home sale price in Grayslake is $395,000, up 27.6% from last year.
How long do homes stay on market in Grayslake?
Homes typically spend 48 days on market before going under contract.
What is the median income in Grayslake?
The median household income is $113,697 per year.
Is Grayslake a buyer's or seller's market?
With 1.9 months of supply, Grayslake is currently a strong seller's market.
What is the Zillow home value estimate for Grayslake?
The Zillow Home Value Index (ZHVI) for Grayslake is $376,258, representing the typical home value in the area.
What is the median condo price in Grayslake?
The median condo/co-op sale price in Grayslake, IL is $212,000, compared to $430,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Grayslake?
The median single-family home price in Grayslake, IL is $430,000 (about $242 per square foot).
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