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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Woods is a seller's market

Buyer's
Market

Difference Since Last Month

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

Key Takeaway

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

Housing Prices in Lake Woods, IL

How much do homes in Lake Woods, IL cost?

Median Sold Price

$225,000

$163/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

-$187,000(-45.4%)

Key Takeaway

Homes in Lake Woods have sold for 45.4% less than they did a month ago.

Summary: The median home sold price in Lake Woods was $225,000 in April 2024, down 45.4% from last month, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 -$225K
N/A
3 --
N/A
4 $412K-
N/A
5+ --
N/A

Summary: Lake Woods housing prices by bedroom type for April 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 did not change, and 5+ bedroom homes did not change.

Housing Supply in Lake Woods, IL

How many homes are available in Lake Woods, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
42-50.0%

Summary: The Lake Woods real estate market had 2 homes for sale in April 2024, a 50.0% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 11
0.0%
3 00
0.0%
4 31
-66.7%
5+ 00
0.0%

Summary: The Lake Woods housing inventory by bedroom type for April 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 66.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Woods, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Lake Woods in April 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Lake Woods, IL

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

Average Sale Time

Mar 2024Apr 2024CHANGE
10 Days4 Days-61.9%

Summary: Homes in Lake Woods had an average of 4 days on market in Apr 2024, down by 61.9% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 1 homes were sold in Lake Woods; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 6 Days Ago

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