Is Lake Bluff, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Bluff is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Lake Bluff was a Seller's Market.

Key Takeaway

Lake Bluff is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Lake Bluff, IL

How much do homes in Lake Bluff, IL cost?

Median Sold Price

$682,000

$296/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$99,450(+17.1%)

Key Takeaway

Homes in Lake Bluff have sold for 17.1% more than they did a year ago.

Summary: The median home sold price in Lake Bluff was $682,000 in November 2024, up 17.1% from last year, and the median price per square foot was $296.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $150K$277.5K
+85.0%
2 $265K$254.5K
-4.0%
3 $499K$595K
+19.2%
4 $745K$1.0M
+34.2%
5+ $850K$1.1M
+41.1%

Summary: Lake Bluff housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 85%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 34.2%, and 5+ bedroom homes increased by 41.1%.

Median Sold Price Compared To Nearby Cities

Shields Township
+33.1%
Lake Bluff
+17.1%
Lake Forest
+14.4%
North Chicago
+12.8%

Housing Supply in Lake Bluff, IL

How many homes are available in Lake Bluff, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4548+6.7%

Summary: The Lake Bluff real estate market had 48 homes for sale in November 2024, a 6.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 10
-100.0%
2 1010
0.0%
3 1617
+6.3%
4 1314
+7.7%
5+ 57
+40.0%

Summary: The Lake Bluff housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
137-46.2%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Bluff, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Lake Bluff in November 2024, down by 46.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.

Days on Market for Lake Bluff, IL

How long does it take to sell a home in Lake Bluff, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
23 Days11 Days-51.5%

Summary: Homes in Lake Bluff had an average of 11 days on market in Nov 2024, down by 51.5% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lake Bluff are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 7 homes were sold in Lake Bluff; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Lake Bluff, IL

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