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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Creek is a buyer's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

Lake Creek is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Lake Creek, IL

How much do homes in Lake Creek, IL cost?

Median Sold Price

$128,750

$75/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$31,750(+32.7%)

Key Takeaway

Homes in Lake Creek have sold for 32.7% more than they did a year ago.

Summary: The median home sold price in Lake Creek was $128,750 in October 2024, up 32.7% from last year, and the median price per square foot was $75.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$86K
N/A
2 $71K$37.5K
-47.2%
3 $97K$127.5K
+31.4%
4 $235K$320K
+36.2%
5+ $205K-
N/A

Summary: Lake Creek housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 47.2%, 3 bedroom homes increased by 31.4%, 4 bedroom homes increased by 36.2%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Lake Creek
+32.7%
Frankfort Township
+13.1%
Johnston City
-4.9%

Housing Supply in Lake Creek, IL

How many homes are available in Lake Creek, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
13130.0%

Summary: The Lake Creek real estate market had 13 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 22
0.0%
3 87
-12.5%
4 01
+100.0%
5+ 11
0.0%

Summary: The Lake Creek housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Creek, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Lake Creek in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Lake Creek, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
12 Days70 Days+449.0%

Summary: Homes in Lake Creek had an average of 70 days on market in Oct 2024, up by 449% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Lake Creek has remained consistent over time.

Summary: During October 2024, 1 homes were sold in Lake Creek; 0% of homes were sold within 30 days, 100% 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 Creek, IL

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