Is Menconis Villas by the Lake, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Menconis Villas by the Lake is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Menconis Villas by the Lake has remained a Seller's Market.

Key Takeaway

Menconis Villas by the Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Menconis Villas by the Lake, IL

How much do homes in Menconis Villas by the Lake, IL cost?

Median Sold Price

$375,000

$226/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$36,000(+10.6%)

Key Takeaway

Homes in Menconis Villas by the Lake have sold for 10.6% more than they did a year ago.

Summary: The median home sold price in Menconis Villas by the Lake was $375,000 in April 2024, up 10.6% from last year, and the median price per square foot was $226.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 --
N/A
2 $313K$299K
-4.5%
3 $335K$385K
+14.9%
4 $400K-
N/A
5+ --
N/A

Summary: Menconis Villas by the Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.5%, 3 bedroom homes increased by 14.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Grosse Pointe Village
+60.4%
Menconis Villas by the Lake
+10.6%

Housing Supply in Menconis Villas by the Lake, IL

How many homes are available in Menconis Villas by the Lake, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
23+50.0%

Summary: The Menconis Villas by the Lake real estate market had 3 homes for sale in April 2024, a 50.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 00
0.0%
3 23
+50.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Menconis Villas by the Lake 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 increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
02+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Menconis Villas by the Lake, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Menconis Villas by the Lake in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.

Days on Market for Menconis Villas by the Lake, IL

How long does it take to sell a home in Menconis Villas by the Lake, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
4 Days2 Days-37.5%

Summary: Homes in Menconis Villas by the Lake had an average of 2 days on market in Apr 2024, down by 37.5% compared to last year.

Breakdown of Home Sale Times

2 Homes Were 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 Menconis Villas by the Lake are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 2 homes were sold in Menconis Villas by the Lake; 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 7 Days Ago

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