Is Inverness, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Inverness is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Inverness has remained a Seller's Market.

Key Takeaway

Inverness is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Inverness, IL cost?

Median Sold Price

$685,000

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$77,500(+12.8%)

Key Takeaway

Homes in Inverness have sold for 12.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 --
N/A
2 $380K$397.5K
+4.6%
3 $488.9K$502K
+2.7%
4 $611.2K$740K
+21.1%
5+ $750K$822K
+9.6%

Median Sold Price Compared To Nearby Cities

Inverness
+12.8%
South Barrington
+8.5%
Barrington
+7.2%
Palatine Township
+4.2%
Palatine
0.2%

How many homes are available in Inverness, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
3631-13.9%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 01
+100.0%
2 42
-50.0%
3 1011
+10.0%
4 139
-30.8%
5+ 98
-11.1%

Number of Homes Sold

Oct 2022Nov 2022%
116-45.5%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Inverness, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
26 Days27 Days+5.8%

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Inverness are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Inverness, IL

Inverness, IL has 31 homes on the market. The number of homes for sale in Inverness, IL decreased by 13.9% between October 2022 and November 2022. The median list price of listings available in November 2022 was $685,000, while the average time on the real estate market was 27 days. Between October 2022 and November 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 0%, 2 bedrooms properties became 4.6% more expensive, the cost of 3 bedrooms properties went up by 2.7%, the cost of 4 bedrooms properties went up by 21.1%, prices of 5 bedrooms properties increased by 9.6%. This housing market inventory have changed: 1 bedroom homes became 100% more available, volume of 2 bedrooms homes went down by 50%, 3 bedrooms homes inventory increased by 10%, the quantity of 4 bedrooms homes went down by 30.8%, 5 bedrooms homes became 11.1% less available. While more than 0 listings in Inverness, IL in November 2022 were sold above asking price, there were more than 1 listings sold at asking price, and more than 5 were sold below.

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