Is Tower Lakes, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tower Lakes is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Tower Lakes was a Seller's Market.

Key Takeaway

Tower Lakes is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Tower Lakes, IL

How much do homes in Tower Lakes, IL cost?

Median Sold Price

$685,000

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$125,500(+22.4%)

Key Takeaway

Homes in Tower Lakes have sold for 22.4% more than they did a year ago.

Summary: The median home sold price in Tower Lakes was $685,000 in May 2024, up 22.4% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 --
N/A
3 $380K$425K
+11.8%
4 $562.5K$685K
+21.8%
5+ $675K$737K
+9.2%

Summary: Tower Lakes 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 did not change, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 21.8%, and 5+ bedroom homes increased by 9.2%.

Median Sold Price Compared To Nearby Cities

Tower Lakes
+22.4%
Wauconda Township
+6.2%
Cuba Township
+2.9%
Lake Barrington
0.2%

Housing Supply in Tower Lakes, IL

How many homes are available in Tower Lakes, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
36+100.0%

Summary: The Tower Lakes real estate market had 6 homes for sale in May 2024, a 100.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 12
+100.0%
4 23
+50.0%
5+ 01
+100.0%

Summary: The Tower Lakes 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tower Lakes, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Tower Lakes in May 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Tower Lakes, IL

How long does it take to sell a home in Tower Lakes, IL?

Average Sale Time

May 2023May 2024CHANGE
36 Days27 Days-26.5%

Summary: Homes in Tower Lakes had an average of 27 days on market in May 2024, down by 26.5% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 1 homes were sold in Tower Lakes; 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.

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

Report Updated 1 Day Ago

Newest Listings in Tower Lakes, IL

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