Is Third Lake, 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, Third Lake has remained a Seller's Market.
Housing Prices in Third Lake, IL
How much do homes in Third Lake, IL cost?
Median Sold Price
$354,500
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Third Lake was $354,500 in May 2024, up 9.8% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | $329K | $354.5K | +7.7% |
4 Bedrooms | $320K | $360K | +12.5% |
5+ Bedrooms | - | - | N/A |
Summary: Third Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Avon Township | $226.1K | $253.2K | +12.0% |
Third Lake | $323K | $354.5K | +9.8% |
Warren Township | $310K | $336.2K | +8.5% |
Gurnee | $325K | $337K | +3.7% |
Grayslake | $288.6K | $295.4K | +2.4% |
Housing Supply in Third Lake, IL
How many homes are available in Third Lake, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 3 | +200.0% |
Summary: The Third Lake real estate market had 3 homes for sale in May 2024, a 200.0% 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 | 0 | 0 | 0.0% |
3 Bedrooms | 1 | 2 | +100.0% |
4 Bedrooms | 0 | 1 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Third Lake 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
0 | 1 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Third Lake in May 2024, up by 100.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Third Lake, IL
How long does it take to sell a home in Third Lake, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
3 Days | 4 Days | +14.3% |
Summary: Homes in Third Lake had an average of 4 days on market in May 2024, up by 14.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Third Lake; 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.