Is Lake Bluff, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Bluff is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Lake Bluff, IL

How much do homes in Lake Bluff, IL cost?

Median Sold Price

$672,275

$292/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$117,275(+21.1%)

Key Takeaway

Homes in Lake Bluff have sold for 21.1% more than they did a year ago.

Summary: The median home sold price in Lake Bluff was $672,275 in September 2024, up 21.1% from last year, and the median price per square foot was $292.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 -$240K
N/A
2 $272K$245K
-9.9%
3 $490K$620K
+26.5%
4 $737.5K$897K
+21.6%
5+ $711.2K$987.5K
+38.8%

Summary: Lake Bluff housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.9%, 3 bedroom homes increased by 26.5%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes increased by 38.8%.

Median Sold Price Compared To Nearby Cities

Shields Township
+39.2%
Lake Bluff
+21.1%
North Chicago
+12.3%
Lake Forest
+10.2%

Housing Supply in Lake Bluff, IL

How many homes are available in Lake Bluff, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5349-7.5%

Summary: The Lake Bluff real estate market had 49 homes for sale in September 2024, a 7.5% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 11
0.0%
2 1110
-9.1%
3 1516
+6.7%
4 2118
-14.3%
5+ 54
-20.0%

Summary: The Lake Bluff housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1512-20.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Bluff, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Lake Bluff in September 2024, down by 20.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 0% were sold at asking, and 83% were sold over asking.

Days on Market for Lake Bluff, IL

How long does it take to sell a home in Lake Bluff, IL?

Average Sale Time

Sep 2023Sep 2024CHANGE
24 Days12 Days-50.2%

Summary: Homes in Lake Bluff had an average of 12 days on market in Sep 2024, down by 50.2% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 12 homes were sold in Lake Bluff; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

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

Report Updated 7 Days Ago

Newest Listings in Lake Bluff, IL

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