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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fox Lake is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Fox Lake, IL

How much do homes in Fox Lake, IL cost?

Median Sold Price

$230,000

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$23,333(+11.3%)

Key Takeaway

Homes in Fox Lake have sold for 11.3% more than they did a year ago.

Summary: The median home sold price in Fox Lake was $230,000 in May 2024, up 11.3% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $75K$85K
+13.3%
2 $175K$193.7K
+10.7%
3 $237K$252.5K
+6.5%
4 $309.1K$447.5K
+44.8%
5+ $507.5K$470K
-7.4%

Summary: Fox Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 44.8%, and 5+ bedroom homes decreased by 7.4%.

Median Sold Price Compared To Nearby Cities

Fox Lake
+11.3%
Grant Township
+7.3%
Burton Township
+4.2%
Antioch Township
+3.7%
Spring Grove
-4.1%

Housing Supply in Fox Lake, IL

How many homes are available in Fox Lake, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7384+15.1%

Summary: The Fox Lake real estate market had 84 homes for sale in May 2024, a 15.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 59
+80.0%
2 2322
-4.3%
3 2126
+23.8%
4 1517
+13.3%
5+ 910
+11.1%

Summary: The Fox Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 80%, 2 bedroom homes decreased by 4.3%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1924+26.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fox Lake, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Fox Lake in May 2024, up by 26.3% month-over-month. Of the 24 sold homes, 46% were sold under asking, 42% were sold at asking, and 13% were sold over asking.

Days on Market for Fox Lake, IL

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

Average Sale Time

May 2023May 2024CHANGE
23 Days14 Days-37.6%

Summary: Homes in Fox Lake had an average of 14 days on market in May 2024, down by 37.6% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 24 homes were sold in Fox Lake; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

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