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 March 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

$570,000

$261/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$150,000(-20.8%)

Key Takeaway

Homes in Lake Bluff have sold for 20.8% less than they did a year ago.

Summary: The median home sold price in Lake Bluff was $570,000 in March 2024, down 20.8% from last year, and the median price per square foot was $261.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$150K
N/A
2 $301.4K$235K
-22.0%
3 $485K$555K
+14.4%
4 $865K$727.5K
-15.9%
5+ $1.1M$1.0M
-16.1%

Summary: Lake Bluff 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 decreased by 22%, 3 bedroom homes increased by 14.4%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes decreased by 16.1%.

Median Sold Price Compared To Nearby Cities

North Chicago
+11.3%
Shields Township
+1.5%
Lake Forest
-6.7%
Lake Bluff
-20.8%

Housing Supply in Lake Bluff, IL

How many homes are available in Lake Bluff, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4043+7.5%

Summary: The Lake Bluff real estate market had 43 homes for sale in March 2024, a 7.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 109
-10.0%
3 118
-27.3%
4 1218
+50.0%
5+ 67
+16.7%

Summary: The Lake Bluff 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 decreased by 10%, 3 bedroom homes decreased by 27.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
78+14.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Bluff, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Lake Bluff in March 2024, up by 14.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% 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

Mar 2023Mar 2024CHANGE
69 Days22 Days-68.1%

Summary: Homes in Lake Bluff had an average of 22 days on market in Mar 2024, down by 68.1% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 March 2024, 8 homes were sold in Lake Bluff; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% 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 18 Days Ago

Newest Listings in Lake Bluff, IL

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