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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Round Lake is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Round Lake has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Round Lake, IL

How much do homes in Round Lake, IL cost?

Median Sold Price

$266,000

$152/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$16,000(+6.4%)

Key Takeaway

Homes in Round Lake have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in Round Lake was $266,000 in March 2024, up 6.4% from last year, and the median price per square foot was $152.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $120K$108K
-10.0%
2 $207.5K$227.5K
+9.6%
3 $239.9K$275K
+14.6%
4 $342.5K$369.9K
+8.0%
5+ $387.5K$438K
+13.0%

Summary: Round Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 13%.

Median Sold Price Compared To Nearby Cities

Avon Township
+9.8%
Grant Township
+8.8%
Round Lake Park
+7.8%
Round Lake Beach
+6.8%
Round Lake
+6.4%

Housing Supply in Round Lake, IL

How many homes are available in Round Lake, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4253+26.2%

Summary: The Round Lake real estate market had 53 homes for sale in March 2024, a 26.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 12
+100.0%
2 912
+33.3%
3 1317
+30.8%
4 1720
+17.6%
5+ 22
0.0%

Summary: The Round Lake 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 increased by 33.3%, 3 bedroom homes increased by 30.8%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1019+90.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Round Lake, you could pay more than the asking price. 63.2% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in Round Lake in March 2024, up by 90.0% month-over-month. Of the 19 sold homes, 21% were sold under asking, 16% were sold at asking, and 63% were sold over asking.

Days on Market for Round Lake, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
19 Days31 Days+64.5%

Summary: Homes in Round Lake had an average of 31 days on market in Mar 2024, up by 64.5% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 19 homes were sold in Round Lake; 79% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 16% 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 25 Days Ago

Newest Listings in Round Lake, IL

Nearby Markets to Round Lake, IL

What housing markets are near Round Lake, IL?