Is Lake Villa Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Villa Township is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Lake Villa Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Lake Villa Township, IL

How much do homes in Lake Villa Township, IL cost?

Median Sold Price

$312,400

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$27,400(+9.6%)

Key Takeaway

Homes in Lake Villa Township have sold for 9.6% more than they did a year ago.

Summary: The median home sold price in Lake Villa Township was $312,400 in March 2024, up 9.6% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$101K
N/A
2 $205K$222.2K
+8.4%
3 $266.6K$300K
+12.5%
4 $337K$365K
+8.3%
5+ $425K$425K
0.0%

Summary: Lake Villa Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Lindenhurst
+12.3%
Lake Villa Township
+9.6%
Round Lake Beach
+6.8%
Lake Villa
0.0%

Housing Supply in Lake Villa Township, IL

How many homes are available in Lake Villa Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
91117+28.6%

Summary: The Lake Villa Township real estate market had 117 homes for sale in March 2024, a 28.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 12
+100.0%
2 1516
+6.7%
3 4452
+18.2%
4 2738
+40.7%
5+ 49
+125.0%

Summary: The Lake Villa Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 40.7%, and 5+ bedroom homes increased by 125%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2332+39.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Villa Township, you could pay more than the asking price. 65.6% of homes here sold above asking price last month.

Summary: A total of 32 homes were sold or pending in Lake Villa Township in March 2024, up by 39.1% month-over-month. Of the 32 sold homes, 19% were sold under asking, 16% were sold at asking, and 66% were sold over asking.

Days on Market for Lake Villa Township, IL

How long does it take to sell a home in Lake Villa Township, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
22 Days18 Days-20.9%

Summary: Homes in Lake Villa Township had an average of 18 days on market in Mar 2024, down by 20.9% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 32 homes were sold in Lake Villa Township; 84% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 6% 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 24 Days Ago

Newest Listings in Lake Villa Township, IL

Nearby Markets to Lake Villa Township, IL

What housing markets are near Lake Villa Township, IL?