Is Inverness, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Inverness has remained a Seller's Market.
Housing Prices in Inverness, IL
How much do homes in Inverness, IL cost?
Median Sold Price
$715,000
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Inverness was $715,000 in June 2024, up 4.6% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $660K | - | N/A |
2 Bedrooms | $393K | $520K | +32.3% |
3 Bedrooms | $560K | $525K | -6.3% |
4 Bedrooms | $765K | $780K | +2.0% |
5+ Bedrooms | $825K | $930.2K | +12.8% |
Summary: Inverness housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 32.3%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 12.8%.
Median Sold Price Compared To Nearby Cities
Barrington | $549.9K | $635K | +15.5% |
South Barrington | $953.7K | $1.0M | +14.8% |
Palatine | $293.9K | $327K | +11.3% |
Palatine Township | $322.5K | $355.9K | +10.3% |
Inverness | $683.5K | $715K | +4.6% |
Housing Supply in Inverness, IL
How many homes are available in Inverness, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
36 | 34 | -5.6% |
Summary: The Inverness real estate market had 34 homes for sale in June 2024, a 5.6% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 4 | -20.0% |
3 Bedrooms | 7 | 7 | 0.0% |
4 Bedrooms | 11 | 11 | 0.0% |
5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The Inverness housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
12 | 11 | -8.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Inverness in June 2024, down by 8.3% month-over-month. Of the 11 sold homes, 45% were sold under asking, 18% were sold at asking, and 36% were sold over asking.
Days on Market for Inverness, IL
How long does it take to sell a home in Inverness, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
12 Days | 10 Days | -14.6% |
Summary: Homes in Inverness had an average of 10 days on market in Jun 2024, down by 14.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 11 homes were sold in Inverness; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.