Is Vernon Hills, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Vernon Hills is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Vernon Hills has remained a Seller's Market.

Key Takeaway

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

How much do homes in Vernon Hills, IL cost?

Median Sold Price

$375,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$39,000(+11.6%)

Key Takeaway

Homes in Vernon Hills have sold for 11.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $110K$126.9K
+15.4%
2 $172K$201.5K
+17.2%
3 $335K$375K
+11.9%
4 $478K$560K
+17.2%
5+ $667K$702K
+5.2%

Median Sold Price Compared To Nearby Cities

Lincolnshire
+16.2%
Vernon Hills
+11.6%
Vernon Township
+10.5%

How many homes are available in Vernon Hills, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
9681-15.6%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 11
0.0%
2 3222
-31.3%
3 3731
-16.2%
4 2022
+10.0%
5+ 65
-16.7%

Number of Homes Sold

Oct 2022Nov 2022%
3421-38.2%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Vernon Hills, you may be able to get a good deal. 47.6% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
24 Days23 Days-5.0%

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Vernon Hills 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 Vernon Hills, IL

Vernon Hills, IL has 81 homes for sale to choose from. In November 2022 in Vernon Hills, IL there were 15.6% less homes for sale than in October 2022. In November 2022, listings were on the market for 23 days. During the same period, the median list price in this real estate market was $375,000. This housing market listing prices have changed between October 2022 and November 2022: 1 bedroom properties prices increased by 15.4%, prices of 2 bedrooms properties went up by 17.2%, prices of 3 bedrooms properties went up by 11.9%, prices of 4 bedrooms properties increased by 17.2%, the cost of 5 bedrooms properties went up by 5.2%. This housing market inventory have changed: 1 bedroom homes did not move, the quantity of 2 bedrooms homes went down by 31.3%, 3 bedrooms homes inventory decreased by 16.2%, the quantity of 4 bedrooms homes went up by 10%, the quantity of 5 bedrooms homes went down by 16.7%. In November 2022, from all listings sold in Vernon Hills, IL there were more than 7 sold above asking price, over 10 sold below and more than 4 were sold right at the asked price.

Related Housing Market Reports