Is Lake in the Hills, 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, Lake in the Hills has remained a Seller's Market.
Housing Prices in Lake in the Hills, IL
How much do homes in Lake in the Hills, IL cost?
Median Sold Price
$313,333
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lake in the Hills was $313,333 in March 2024, up 2.4% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $101K | $124.9K | +23.8% |
2 Bedrooms | $199.9K | $230K | +15.1% |
3 Bedrooms | $301.5K | $310K | +2.8% |
4 Bedrooms | $380K | $402K | +5.8% |
5+ Bedrooms | $439K | $469.2K | +6.9% |
Summary: Lake in the Hills housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.8%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
Crystal Lake | $285K | $345.5K | +21.3% |
Lakewood | $468.5K | $530K | +13.1% |
Algonquin | $344.9K | $367K | +6.4% |
Grafton Township | $360K | $375.1K | +4.2% |
Lake in the Hills | $306.1K | $313.3K | +2.4% |
Housing Supply in Lake in the Hills, IL
How many homes are available in Lake in the Hills, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
66 | 65 | -1.5% |
Summary: The Lake in the Hills real estate market had 65 homes for sale in March 2024, a 1.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 10 | 7 | -30.0% |
3 Bedrooms | 39 | 36 | -7.7% |
4 Bedrooms | 13 | 19 | +46.2% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Lake in the Hills 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 30%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 21 | -25.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in Lake in the Hills in March 2024, down by 25.0% month-over-month. Of the 21 sold homes, 33% were sold under asking, 14% were sold at asking, and 52% were sold over asking.
Days on Market for Lake in the Hills, IL
How long does it take to sell a home in Lake in the Hills, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
25 Days | 25 Days | -0.9% |
Summary: Homes in Lake in the Hills had an average of 25 days on market in Mar 2024, down by 0.9% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in Lake in the Hills; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.