Is Lake Zurich, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$420,500
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Zurich was $420,500 in April 2024, up 10.7% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | - | N/A |
2 Bedrooms | $254.9K | $270K | +5.9% |
3 Bedrooms | $345K | $391K | +13.3% |
4 Bedrooms | $461K | $514K | +11.5% |
5+ Bedrooms | $552.5K | $612.5K | +10.9% |
Summary: Lake Zurich housing prices by bedroom type for April 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 13.3%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 10.9%.
Median Sold Price Compared To Nearby Cities
Kildeer | $735.6K | $850K | +15.5% |
North Barrington | $730K | $819K | +12.2% |
Lake Zurich | $380K | $420.5K | +10.7% |
Ela Township | $533.4K | $554.7K | +4.0% |
Deer Park | $550K | $540K | -1.8% |
Housing Supply in Lake Zurich, IL
How many homes are available in Lake Zurich, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
66 | 72 | +9.1% |
Summary: The Lake Zurich real estate market had 72 homes for sale in April 2024, a 9.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 4 | -55.6% |
3 Bedrooms | 25 | 28 | +12.0% |
4 Bedrooms | 21 | 32 | +52.4% |
5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The Lake Zurich housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 55.6%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 52.4%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 16 | -42.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Lake Zurich in April 2024, down by 42.9% month-over-month. Of the 16 sold homes, 25% were sold under asking, 19% were sold at asking, and 56% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
14 Days | 12 Days | -16.2% |
Summary: Homes in Lake Zurich had an average of 12 days on market in Apr 2024, down by 16.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 16 homes were sold in Lake Zurich; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.