Is Lake in the Hills, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake in the Hills is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Lake in the Hills has remained a Seller's Market.

Key Takeaway

Lake in the Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lake in the Hills, IL

How much do homes in Lake in the Hills, IL cost?

Median Sold Price

$329,083

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$14,333(+4.6%)

Key Takeaway

Homes in Lake in the Hills have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in Lake in the Hills was $329,083 in November 2024, up 4.6% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $121.5K$140K
+15.2%
2 $229.4K$235.8K
+2.8%
3 $310K$330K
+6.5%
4 $400K$405K
+1.3%
5+ $425K$477.5K
+12.4%

Summary: Lake in the Hills housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 12.4%.

Median Sold Price Compared To Nearby Cities

Lakewood
+9.3%
Grafton Township
+8.0%
Crystal Lake
+7.8%
Algonquin
+5.1%
Lake in the Hills
+4.6%

Housing Supply in Lake in the Hills, IL

How many homes are available in Lake in the Hills, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
9293+1.1%

Summary: The Lake in the Hills real estate market had 93 homes for sale in November 2024, a 1.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 2018
-10.0%
3 4047
+17.5%
4 2719
-29.6%
5+ 37
+133.3%

Summary: The Lake in the Hills housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 17.5%, 4 bedroom homes decreased by 29.6%, and 5+ bedroom homes increased by 133.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2827-3.6%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake in the Hills, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Lake in the Hills in November 2024, down by 3.6% month-over-month. Of the 27 sold homes, 37% were sold under asking, 19% were sold at asking, and 44% were sold over asking.

Days on Market for Lake in the Hills, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
13 Days50 Days+277.9%

Summary: Homes in Lake in the Hills had an average of 50 days on market in Nov 2024, up by 277.9% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 27 homes were sold in Lake in the Hills; 81% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% 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 in the Hills, IL

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