Is Inverness, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$678,500
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Inverness was $678,500 in March 2024, down 0.9% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $660K | N/A |
2 Bedrooms | $405K | $491.2K | +21.3% |
3 Bedrooms | $517.5K | $545K | +5.3% |
4 Bedrooms | $750K | $802.5K | +7.0% |
5+ Bedrooms | $856K | $910K | +6.3% |
Summary: Inverness housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.3%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
Palatine | $279.9K | $323.4K | +15.5% |
Barrington | $543.5K | $605K | +11.3% |
South Barrington | $949.4K | $1.0M | +11.0% |
Palatine Township | $317.2K | $340.1K | +7.2% |
Inverness | $685K | $678.5K | -0.9% |
Housing Supply in Inverness, IL
How many homes are available in Inverness, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
13 | 20 | +53.8% |
Summary: The Inverness real estate market had 20 homes for sale in March 2024, a 53.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 2 | +100.0% |
3 Bedrooms | 3 | 4 | +33.3% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The Inverness housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 4 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Inverness in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 29 Days | -22.1% |
Summary: Homes in Inverness had an average of 29 days on market in Mar 2024, down by 22.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Inverness; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.