Is Lake Zurich, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake Zurich has remained a Seller's Market.
Housing Prices in Lake Zurich, IL
How much do homes in Lake Zurich, IL cost?
Median Sold Price
$421,625
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Zurich was $421,625 in May 2024, up 9.7% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | - | N/A |
2 Bedrooms | $254.9K | $270K | +5.9% |
3 Bedrooms | $347K | $400K | +15.3% |
4 Bedrooms | $475K | $505K | +6.3% |
5+ Bedrooms | $510K | $620K | +21.6% |
Summary: Lake Zurich housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 21.6%.
Median Sold Price Compared To Nearby Cities
North Barrington | $720K | $925K | +28.5% |
Kildeer | $755K | $847.5K | +12.3% |
Lake Zurich | $384.3K | $421.6K | +9.7% |
Ela Township | $535K | $564.5K | +5.5% |
Deer Park | $555K | $540K | -2.7% |
Housing Supply in Lake Zurich, IL
How many homes are available in Lake Zurich, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
70 | 103 | +47.1% |
Summary: The Lake Zurich real estate market had 103 homes for sale in May 2024, a 47.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 9 | +50.0% |
3 Bedrooms | 30 | 43 | +43.3% |
4 Bedrooms | 29 | 39 | +34.5% |
5+ Bedrooms | 5 | 12 | +140.0% |
Summary: The Lake Zurich housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 43.3%, 4 bedroom homes increased by 34.5%, and 5+ bedroom homes increased by 140%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 20 | +17.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Lake Zurich in May 2024, up by 17.6% month-over-month. Of the 20 sold homes, 20% were sold under asking, 10% were sold at asking, and 70% were sold over asking.
Days on Market for Lake Zurich, IL
How long does it take to sell a home in Lake Zurich, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 8 Days | -36.2% |
Summary: Homes in Lake Zurich had an average of 8 days on market in May 2024, down by 36.2% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 20 homes were sold in Lake Zurich; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.