Is Lake in the Hills, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake in the Hills is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Lake in the Hills has remained a Seller's Market.

Key Takeaway

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

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

+$7,222(+2.4%)

Key Takeaway

Homes in Lake in the Hills have sold for 2.4% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 $101K$124.9K
+23.8%
2 $199.9K$230K
+15.1%
3 $301.5K$310K
+2.8%
4 $380K$402K
+5.8%
5+ $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
+21.3%
Lakewood
+13.1%
Algonquin
+6.4%
Grafton Township
+4.2%
Lake in the Hills
+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 2024Mar 2024CHANGE
6665-1.5%

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

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 107
-30.0%
3 3936
-7.7%
4 1319
+46.2%
5+ 32
-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 2024Mar 2024CHANGE
2821-25.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake in the Hills, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.

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 2023Mar 2024CHANGE
25 Days25 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 25 Days Ago

Newest Listings in Lake in the Hills, IL

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