Is Lake Lorraine Estates, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Lake Lorraine Estates has remained a Seller's Market.
Housing Prices in Lake Lorraine Estates, IL
How much do homes in Lake Lorraine Estates, IL cost?
Median Sold Price
$724,822
$223/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Summary: The median home sold price in Lake Lorraine Estates was $724,822 in March 2024, down 11.8% from last month, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | - | - | N/A |
4 Bedrooms | $822K | $724.8K | -11.8% |
5+ Bedrooms | - | - | N/A |
Summary: Lake Lorraine Estates housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes did not change.
Housing Supply in Lake Lorraine Estates, IL
How many homes are available in Lake Lorraine Estates, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 3 | -50.0% |
Summary: The Lake Lorraine Estates real estate market had 3 homes for sale in March 2024, a 50.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 0 | 0 | 0.0% |
4 Bedrooms | 5 | 2 | -60.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lake Lorraine Estates 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 60%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 2 | -33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Lake Lorraine Estates in March 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Lake Lorraine Estates, IL
How long does it take to sell a home in Lake Lorraine Estates, IL?
Average Sale Time
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1 Day | 49 Days | +4800.0% |
Summary: Homes in Lake Lorraine Estates had an average of 49 days on market in Mar 2024, up by 4800% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 2 homes were sold in Lake Lorraine Estates; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.