Is Vernon Hills, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Vernon Hills has remained a Seller's Market.
Housing Prices in Vernon Hills, IL
How much do homes in Vernon Hills, IL cost?
Median Sold Price
$402,500
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Vernon Hills was $402,500 in April 2024, up 5.9% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $160.7K | +19.1% |
2 Bedrooms | $210K | $231.5K | +10.2% |
3 Bedrooms | $383K | $416.8K | +8.8% |
4 Bedrooms | $594.5K | $575K | -3.3% |
5+ Bedrooms | $716K | $885K | +23.6% |
Summary: Vernon Hills housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.1%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 23.6%.
Median Sold Price Compared To Nearby Cities
Vernon Hills | $380K | $402.5K | +5.9% |
Vernon Township | $459.7K | $483.3K | +5.1% |
Lincolnshire | $635.4K | $599.9K | -5.6% |
Housing Supply in Vernon Hills, IL
How many homes are available in Vernon Hills, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
94 | 91 | -3.2% |
Summary: The Vernon Hills real estate market had 91 homes for sale in April 2024, a 3.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 27 | 25 | -7.4% |
3 Bedrooms | 36 | 33 | -8.3% |
4 Bedrooms | 26 | 27 | +3.8% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Vernon Hills housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 29 | +3.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Vernon Hills in April 2024, up by 3.6% month-over-month. Of the 29 sold homes, 28% were sold under asking, 21% were sold at asking, and 52% were sold over asking.
Days on Market for Vernon Hills, IL
How long does it take to sell a home in Vernon Hills, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
45 Days | 12 Days | -73.3% |
Summary: Homes in Vernon Hills had an average of 12 days on market in Apr 2024, down by 73.3% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 29 homes were sold in Vernon Hills; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.