Is Lake Villa Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Villa Township is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Lake Villa Township has remained a Seller's Market.

Key Takeaway

Lake Villa Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lake Villa Township, IL

How much do homes in Lake Villa Township, IL cost?

Median Sold Price

$315,111

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$30,111(+10.6%)

Key Takeaway

Homes in Lake Villa Township have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Lake Villa Township was $315,111 in April 2024, up 10.6% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$101K
N/A
2 $209K$223.6K
+7.0%
3 $265K$300K
+13.2%
4 $343.7K$365K
+6.2%
5+ $425K$425K
0.0%

Summary: Lake Villa Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Lindenhurst
+14.1%
Lake Villa Township
+10.6%
Round Lake Beach
+9.9%
Lake Villa
-1.1%

Housing Supply in Lake Villa Township, IL

How many homes are available in Lake Villa Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
118161+36.4%

Summary: The Lake Villa Township real estate market had 161 homes for sale in April 2024, a 36.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 21
-50.0%
2 1623
+43.8%
3 5265
+25.0%
4 3858
+52.6%
5+ 1014
+40.0%

Summary: The Lake Villa Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 43.8%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 52.6%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3330-9.1%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Villa Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 30 homes were sold or pending in Lake Villa Township in April 2024, down by 9.1% month-over-month. Of the 30 sold homes, 27% were sold under asking, 23% were sold at asking, and 50% were sold over asking.

Days on Market for Lake Villa Township, IL

How long does it take to sell a home in Lake Villa Township, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
18 Days15 Days-14.8%

Summary: Homes in Lake Villa Township had an average of 15 days on market in Apr 2024, down by 14.8% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lake Villa Township are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 30 homes were sold in Lake Villa Township; 87% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated Apr 1, 2024

Newest Listings in Lake Villa Township, IL

Nearby Markets to Lake Villa Township, IL

What housing markets are near Lake Villa Township, IL?