Is Loves Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Loves Park is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Loves Park has remained a Seller's Market.

Key Takeaway

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

How much do homes in Loves Park, IL cost?

Median Sold Price

$164,000

$107/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$28,116(+20.7%)

Key Takeaway

Homes in Loves Park have sold for 20.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $79.5K-
N/A
2 $118.9K$133K
+11.8%
3 $143K$168.5K
+17.8%
4 $226K$243K
+7.5%
5+ $309K$350K
+13.3%

Median Sold Price Compared To Nearby Cities

Loves Park
+20.7%
Owen Township
+11.9%
Harlem Township
+10.4%
Caledonia Township
-6.4%
Machesney Park
-10.7%

How many homes are available in Loves Park, IL?

Number of Homes For Sale

Jul 2022Aug 2022%
6058-3.3%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 01
+100.0%
2 1814
-22.2%
3 3231
-3.1%
4 78
+14.3%
5+ 34
+33.3%

Number of Homes Sold

Jul 2022Aug 2022%
18180.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Loves Park, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
9 Days11 Days+13.7%

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Loves Park 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 Loves Park, IL

Loves Park, IL has 58 homes on the market. Between July 2022 and August 2022, Loves Park, IL real estate market has seen decrease in the number of listings by 3.3%. In August 2022 median list price was $164,000 and the average listing age was 11 days. Listing prices have changed in this real estate market between July 2022 and August 2022: prices of 1 bedroom properties increased by 0%, 2 bedrooms properties became 11.8% more expensive, 3 bedrooms properties prices increased by 17.8%, 4 bedrooms properties prices increased by 7.5%, the cost of 5 bedrooms properties went up by 13.3%. The following changes in the number of homes for sale were observed in this housing market: number of 1 bedroom homes increased by 100%, volume of 2 bedrooms homes went down by 22.2%, 3 bedrooms homes became 3.1% less available, number of 4 bedrooms homes increased by 14.3%, 5 bedrooms homes inventory increased by 33.3%. Over 10 listings were sold over their listed price in August 2022 in Loves Park, IL. In the same period over 7 listings were sold below the listed price and 1 listings were sold for the listed price.

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