Is Vernon Hills, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$400,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Vernon Hills was $400,000 in March 2024, up 6.4% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $160.7K | +19.1% |
2 Bedrooms | $208.5K | $220K | +5.5% |
3 Bedrooms | $378K | $415K | +9.8% |
4 Bedrooms | $574.9K | $575K | 0.0% |
5+ Bedrooms | $716K | $865K | +20.8% |
Summary: Vernon Hills housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.1%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 9.8%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 20.8%.
Median Sold Price Compared To Nearby Cities
Vernon Hills | $376K | $400K | +6.4% |
Indian Creek | $460K | $480K | +4.3% |
Vernon Township | $459.8K | $474.6K | +3.2% |
Lincolnshire | $625K | $611K | -2.2% |
Housing Supply in Vernon Hills, IL
How many homes are available in Vernon Hills, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
80 | 92 | +15.0% |
Summary: The Vernon Hills real estate market had 92 homes for sale in March 2024, a 15.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 20 | 25 | +25.0% |
3 Bedrooms | 27 | 36 | +33.3% |
4 Bedrooms | 27 | 26 | -3.7% |
5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Vernon Hills housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
22 | 25 | +13.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Vernon Hills in March 2024, up by 13.6% month-over-month. Of the 25 sold homes, 36% were sold under asking, 24% were sold at asking, and 40% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
23 Days | 9 Days | -61.4% |
Summary: Homes in Vernon Hills had an average of 9 days on market in Mar 2024, down by 61.4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 25 homes were sold in Vernon Hills; 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.