Is Inverness, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Inverness was a Seller's Market.
Housing Prices in Inverness, IL
How much do homes in Inverness, IL cost?
Median Sold Price
$694,072
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Inverness was $694,072 in April 2024, down 0.7% 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 | - | $660K | N/A |
2 Bedrooms | $405K | $522.5K | +29.0% |
3 Bedrooms | $556.5K | $530K | -4.8% |
4 Bedrooms | $767K | $775K | +1.0% |
5+ Bedrooms | $878.4K | $910K | +3.6% |
Summary: Inverness housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
Palatine | $284.9K | $322K | +13.0% |
Barrington | $544K | $603.7K | +11.0% |
South Barrington | $952.5K | $1.0M | +9.7% |
Palatine Township | $318.5K | $340K | +6.7% |
Inverness | $699K | $694K | -0.7% |
Housing Supply in Inverness, IL
How many homes are available in Inverness, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 29 | +61.1% |
Summary: The Inverness real estate market had 29 homes for sale in April 2024, a 61.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 3 | 6 | +100.0% |
4 Bedrooms | 4 | 7 | +75.0% |
5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Inverness 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 increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Inverness in April 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Inverness, IL
How long does it take to sell a home in Inverness, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 59 Days | +271.1% |
Summary: Homes in Inverness had an average of 59 days on market in Apr 2024, up by 271.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in Inverness; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.