Is Lake Bluff, 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 Bluff has remained a Seller's Market.
Housing Prices in Lake Bluff, IL
How much do homes in Lake Bluff, IL cost?
Median Sold Price
$630,000
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Bluff was $630,000 in May 2024, up 0.8% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $240K | N/A |
2 Bedrooms | $282.5K | $241.2K | -14.6% |
3 Bedrooms | $482.5K | $565K | +17.1% |
4 Bedrooms | $877K | $765.2K | -12.7% |
5+ Bedrooms | $850K | $975K | +14.7% |
Summary: Lake Bluff 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 decreased by 14.6%, 3 bedroom homes increased by 17.1%, 4 bedroom homes decreased by 12.7%, and 5+ bedroom homes increased by 14.7%.
Median Sold Price Compared To Nearby Cities
Shields Township | $546.2K | $634.1K | +16.1% |
North Chicago | $170K | $182.5K | +7.4% |
Lake Bluff | $625K | $630K | +0.8% |
Lake Forest | $1.0M | $981K | -7.1% |
Housing Supply in Lake Bluff, IL
How many homes are available in Lake Bluff, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
54 | 56 | +3.7% |
Summary: The Lake Bluff real estate market had 56 homes for sale in May 2024, a 3.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 11 | 12 | +9.1% |
3 Bedrooms | 11 | 16 | +45.5% |
4 Bedrooms | 22 | 20 | -9.1% |
5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Lake Bluff 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 9.1%, 3 bedroom homes increased by 45.5%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
13 | 15 | +15.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Lake Bluff in May 2024, up by 15.4% month-over-month. Of the 15 sold homes, 53% were sold under asking, 7% were sold at asking, and 40% were sold over asking.
Days on Market for Lake Bluff, IL
How long does it take to sell a home in Lake Bluff, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 32 Days | +40.1% |
Summary: Homes in Lake Bluff had an average of 32 days on market in May 2024, up by 40.1% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Lake Bluff; 80% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.