Is Vernon Township, 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 Township has remained a Seller's Market.
Housing Prices in Vernon Township, IL
How much do homes in Vernon Township, IL cost?
Median Sold Price
$483,317
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Vernon Township was $483,317 in April 2024, up 5.1% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $197.5K | $213.7K | +8.2% |
2 Bedrooms | $250K | $270K | +8.0% |
3 Bedrooms | $400K | $440K | +10.0% |
4 Bedrooms | $584.6K | $630K | +7.8% |
5+ Bedrooms | $781K | $840K | +7.6% |
Summary: Vernon Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.2%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
Buffalo Grove | $356K | $383.5K | +7.7% |
Vernon Hills | $380K | $402.5K | +5.9% |
Riverwoods | $735K | $777.5K | +5.8% |
Vernon Township | $459.7K | $483.3K | +5.1% |
Lincolnshire | $635.4K | $599.9K | -5.6% |
Housing Supply in Vernon Township, IL
How many homes are available in Vernon Township, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
251 | 261 | +4.0% |
Summary: The Vernon Township real estate market had 261 homes for sale in April 2024, a 4.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 61 | 57 | -6.6% |
3 Bedrooms | 85 | 87 | +2.4% |
4 Bedrooms | 76 | 83 | +9.2% |
5+ Bedrooms | 27 | 32 | +18.5% |
Summary: The Vernon Township 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 decreased by 6.6%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 18.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
74 | 71 | -4.1% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Summary: A total of 71 homes were sold or pending in Vernon Township in April 2024, down by 4.1% month-over-month. Of the 71 sold homes, 32% were sold under asking, 17% were sold at asking, and 51% were sold over asking.
Days on Market for Vernon Township, IL
How long does it take to sell a home in Vernon Township, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 15 Days | -45.1% |
Summary: Homes in Vernon Township had an average of 15 days on market in Apr 2024, down by 45.1% compared to last year.
Breakdown of Home Sale Times
62 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 71 homes were sold in Vernon Township; 87% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.