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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Vernon Township is a seller's market

Buyer's
Market

Difference Since January 2022

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

Key Takeaway

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

How much do homes in Vernon Township, IL cost?

Median Sold Price

$456,820

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$46,685(+11.4%)

Key Takeaway

Homes in Vernon Township have sold for 11.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $134.5K$200K
+48.7%
2 $222K$242.3K
+9.1%
3 $362.2K$414.3K
+14.4%
4 $524.2K$594.3K
+13.4%
5+ $730K$756K
+3.6%

Median Sold Price Compared To Nearby Cities

Lincolnshire
+17.3%
Vernon Township
+11.4%
Buffalo Grove
+10.0%
Vernon Hills
+8.7%
Riverwoods
-2.1%

How many homes are available in Vernon Township, IL?

Number of Homes For Sale

Dec 2022Jan 2023%
165149-9.7%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 22
0.0%
2 3626
-27.8%
3 5353
0.0%
4 5651
-8.9%
5+ 1817
-5.6%

Number of Homes Sold

Dec 2022Jan 2023%
5628-50.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Vernon Township, you may be able to get a good deal. 60.7% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
30 Days19 Days-33.8%

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Vernon Township 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 Township, IL

Number of homes for sale in Vernon Township, IL real estate market have reached 149. The number of homes for sale in Vernon Township, IL decreased by 9.7% between December 2022 and January 2023. In January 2023 median list price was $456,820 and the average listing age was 19 days. This housing market listing prices have changed between December 2022 and January 2023: prices of 1 bedroom properties went up by 48.7%, prices of 2 bedrooms properties increased by 9.1%, 3 bedrooms properties became 14.4% more expensive, 4 bedrooms properties became 13.4% more expensive, prices of 5 bedrooms properties went up by 3.6%. This housing market inventory have changed: volume of 1 bedroom homes stayed the same, volume of 2 bedrooms homes went down by 27.8%, volume of 3 bedrooms homes stayed the same, the quantity of 4 bedrooms homes went down by 8.9%, the quantity of 5 bedrooms homes went down by 5.6%. Over 9 listings were sold over their listed price in January 2023 in Vernon Township, IL. In the same period over 17 listings were sold below the listed price and 2 listings were sold for the listed price.

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