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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Lorraine Estates is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Lake Lorraine Estates has remained a Seller's Market.

Key Takeaway

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

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

-$97,177(-11.8%)

Key Takeaway

Homes in Lake Lorraine Estates have sold for 11.8% less than they did a month ago.

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

# BEDSFeb 2024Mar 2024CHANGE
1 --
N/A
2 --
N/A
3 --
N/A
4 $822K$724.8K
-11.8%
5+ --
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 2024Mar 2024CHANGE
63-50.0%

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

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 00
0.0%
3 00
0.0%
4 52
-60.0%
5+ 11
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 2024Mar 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Lorraine Estates, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

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 2024Mar 2024CHANGE
1 Day49 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 29 Days Ago

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