Is Lake Villa Township, 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 Villa Township has remained a Seller's Market.
Housing Prices in Lake Villa Township, IL
How much do homes in Lake Villa Township, IL cost?
Median Sold Price
$318,500
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Villa Township was $318,500 in May 2024, up 11.8% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $152K | $50K | -67.1% |
2 Bedrooms | $205K | $225K | +9.8% |
3 Bedrooms | $270K | $300K | +11.1% |
4 Bedrooms | $345K | $367K | +6.4% |
5+ Bedrooms | $425K | $425.5K | 0.1% |
Summary: Lake Villa Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 67.1%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 0.1%.
Median Sold Price Compared To Nearby Cities
Lindenhurst | $277K | $318.2K | +14.9% |
Lake Villa Township | $285K | $318.5K | +11.8% |
Round Lake Beach | $204.5K | $226.6K | +10.8% |
Lake Villa | $325K | $325.5K | 0.2% |
Housing Supply in Lake Villa Township, IL
How many homes are available in Lake Villa Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
157 | 184 | +17.2% |
Summary: The Lake Villa Township real estate market had 184 homes for sale in May 2024, a 17.2% 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 | 21 | 26 | +23.8% |
3 Bedrooms | 66 | 77 | +16.7% |
4 Bedrooms | 56 | 62 | +10.7% |
5+ Bedrooms | 13 | 18 | +38.5% |
Summary: The Lake Villa Township 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 23.8%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
34 | 56 | +64.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Summary: A total of 56 homes were sold or pending in Lake Villa Township in May 2024, up by 64.7% month-over-month. Of the 56 sold homes, 20% were sold under asking, 13% were sold at asking, and 68% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 15 Days | -35.2% |
Summary: Homes in Lake Villa Township had an average of 15 days on market in May 2024, down by 35.2% compared to last year.
Breakdown of Home Sale Times
49 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 56 homes were sold in Lake Villa Township; 88% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.