Is Loves Park, 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, Loves Park has remained a Seller's Market.
Housing Prices in Loves Park, IL
How much do homes in Loves Park, IL cost?
Median Sold Price
$171,250
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Loves Park was $171,250 in March 2024, down 1% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $65K | -50.0% |
2 Bedrooms | $136.5K | $149.5K | +9.5% |
3 Bedrooms | $182.2K | $176.5K | -3.2% |
4 Bedrooms | $262.5K | $274K | +4.4% |
5+ Bedrooms | $350K | $391K | +11.7% |
Summary: Loves Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 9.5%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
Owen Township | $228.5K | $265K | +16.0% |
Caledonia Township | $220K | $250K | +13.6% |
Machesney Park | $162K | $170K | +4.9% |
Loves Park | $173K | $171.2K | -1.0% |
Harlem Township | $185K | $182.5K | -1.4% |
Housing Supply in Loves Park, IL
How many homes are available in Loves Park, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
37 | 36 | -2.7% |
Summary: The Loves Park real estate market had 36 homes for sale in March 2024, a 2.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 15 | 12 | -20.0% |
3 Bedrooms | 19 | 21 | +10.5% |
4 Bedrooms | 3 | 2 | -33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Loves Park 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 decreased by 20%, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 7 | -58.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Loves Park in March 2024, down by 58.8% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Loves Park, IL
How long does it take to sell a home in Loves Park, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
20 Days | 24 Days | +17.4% |
Summary: Homes in Loves Park had an average of 24 days on market in Mar 2024, up by 17.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Loves Park; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.