Is Lake No. 1, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake No. 1 is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Lake No. 1 has remained a Seller's Market.

Key Takeaway

Lake No. 1 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Lake No. 1, IL cost?

Median Sold Price

$294,700

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$174,700(+145.6%)

Key Takeaway

Homes in Lake No. 1 have sold for 145.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $48K$45K
-6.3%
2 $90K$104.9K
+16.6%
3 $137.5K$294.7K
+114.3%
4 $170K$340K
+100.0%
5+ -$527.4K
N/A

Median Sold Price Compared To Nearby Cities

Lake No. 1
+145.6%
Southern
-7.7%

How many homes are available in Lake No. 1, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
56+20.0%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 00
0.0%
2 20
-100.0%
3 13
+200.0%
4 12
+100.0%
5+ 11
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
220.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake No. 1, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
91 Days32 Days-64.8%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lake No. 1 are selling fast, if you're buying plan to act quickly.

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

About Lake No. 1, IL

There are 6 homes are for sale in Lake No. 1, IL real estate market. The inventory of homes for sale in Lake No. 1, IL between October 2022 and November 2022 increased by 20%. The median list price of listings available in November 2022 was $294,700, while the average time on the real estate market was 32 days. Real estate listing prices changed between October 2022 and November 2022: prices of 1 bedroom properties decreased by 6.3%, prices of 2 bedrooms properties increased by 16.6%, 3 bedrooms properties became 114.3% more expensive, 4 bedrooms properties prices increased by 100%, prices of 5 bedrooms properties went up by 0%. Volume of homes for sale changed: volume of 1 bedroom homes stayed the same, 2 bedrooms homes inventory decreased by 100%, number of 3 bedrooms homes increased by 200%, the quantity of 4 bedrooms homes went up by 100%, number of 5 bedrooms homes remained the same. Lake No. 1, IL housing market in November 2022 saw over 0 listings sold above listed price, more than 0 sold at listed price and over 2 sold below.