Is Lee County, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lee County has remained a Seller's Market.
Housing Prices in Lee County, IL
How much do homes in Lee County, IL cost?
Median Sold Price
$160,000
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lee County was $160,000 in March 2024, up 18.5% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80K | $117K | +46.3% |
2 Bedrooms | $95K | $118K | +24.2% |
3 Bedrooms | $145K | $178.4K | +23.1% |
4 Bedrooms | $152K | $172.5K | +13.5% |
5+ Bedrooms | $270K | $180K | -33.3% |
Summary: Lee County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.3%, 2 bedroom homes increased by 24.2%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes decreased by 33.3%.
Median Sold Price Compared To Nearby Counties
Lee County | $135K | $160K | +18.5% |
DeKalb County | $229.9K | $255.1K | +10.9% |
Ogle County | $169K | $186.2K | +10.2% |
Whiteside County | $114.8K | $120K | +4.5% |
Bureau County | $122.5K | $125K | +2.0% |
Housing Supply in Lee County, IL
How many homes are available in Lee County, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
85 | 95 | +11.8% |
Summary: The Lee County real estate market had 95 homes for sale in March 2024, a 11.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 18 | 18 | 0.0% |
3 Bedrooms | 41 | 46 | +12.2% |
4 Bedrooms | 15 | 19 | +26.7% |
5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Lee County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
22 | 25 | +13.6% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Lee County in March 2024, up by 13.6% month-over-month. Of the 25 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Lee County, IL
How long does it take to sell a home in Lee County, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
71 Days | 40 Days | -43.8% |
Summary: Homes in Lee County had an average of 40 days on market in Mar 2024, down by 43.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 25 homes were sold in Lee County; 64% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.