Is Gages Lake, 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, Gages Lake has remained a Seller's Market.
Housing Prices in Gages Lake, IL
How much do homes in Gages Lake, IL cost?
Median Sold Price
$311,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Gages Lake was $311,000 in April 2024, up 13.1% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $155K | $172K | +11.0% |
2 Bedrooms | $195K | $215K | +10.3% |
3 Bedrooms | $256.1K | $300K | +17.1% |
4 Bedrooms | $369.5K | $444.9K | +20.4% |
5+ Bedrooms | $418.5K | $385.1K | -8.0% |
Summary: Gages Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes decreased by 8%.
Housing Supply in Gages Lake, IL
How many homes are available in Gages Lake, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 34 | +36.0% |
Summary: The Gages Lake real estate market had 34 homes for sale in April 2024, a 36.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 3 | 5 | +66.7% |
3 Bedrooms | 17 | 17 | 0.0% |
4 Bedrooms | 2 | 10 | +400.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Gages Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes remained the same, 4 bedroom homes increased by 400%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 11 | +22.2% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Gages Lake in April 2024, up by 22.2% month-over-month. Of the 11 sold homes, 0% were sold under asking, 9% were sold at asking, and 91% were sold over asking.
Days on Market for Gages Lake, IL
How long does it take to sell a home in Gages Lake, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
10 Days | 5 Days | -49.9% |
Summary: Homes in Gages Lake had an average of 5 days on market in Apr 2024, down by 49.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Gages Lake; 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.