Is Lake Villa, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake Villa has remained a Seller's Market.
Housing Prices in Lake Villa, IL
How much do homes in Lake Villa, IL cost?
Median Sold Price
$325,500
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake Villa was $325,500 in May 2024, up 0.2% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $152K | $50K | -67.1% |
2 Bedrooms | $220K | $250K | +13.6% |
3 Bedrooms | $310K | $291K | -6.1% |
4 Bedrooms | $386K | $385K | -0.3% |
5+ Bedrooms | $425K | $467.5K | +10.0% |
Summary: Lake Villa housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 67.1%, 2 bedroom homes increased by 13.6%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Cities
Lindenhurst | $277K | $318.2K | +14.9% |
Lake Villa Township | $285K | $318.5K | +11.8% |
Round Lake Beach | $204.5K | $226.6K | +10.8% |
Antioch Township | $275.1K | $285.3K | +3.7% |
Lake Villa | $325K | $325.5K | 0.2% |
Housing Supply in Lake Villa, IL
How many homes are available in Lake Villa, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
70 | 86 | +22.9% |
Summary: The Lake Villa real estate market had 86 homes for sale in May 2024, a 22.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 12 | 15 | +25.0% |
3 Bedrooms | 26 | 29 | +11.5% |
4 Bedrooms | 24 | 29 | +20.8% |
5+ Bedrooms | 8 | 13 | +62.5% |
Summary: The Lake Villa housing inventory by bedroom type for May 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 11.5%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 62.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 27 | +80.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Lake Villa in May 2024, up by 80.0% month-over-month. Of the 27 sold homes, 15% were sold under asking, 22% were sold at asking, and 63% were sold over asking.
Days on Market for Lake Villa, IL
How long does it take to sell a home in Lake Villa, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
35 Days | 21 Days | -38.8% |
Summary: Homes in Lake Villa had an average of 21 days on market in May 2024, down by 38.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 27 homes were sold in Lake Villa; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.