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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake View is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Lake View has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Lake View, IL

How much do homes in Lake View, IL cost?

Median Sold Price

$472,183

$309/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$22,109(+4.9%)

Key Takeaway

Homes in Lake View have sold for 4.9% more than they did a year ago.

Summary: The median home sold price in Lake View was $472,183 in October 2024, up 4.9% from last year, and the median price per square foot was $309.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $215K$225K
+4.7%
2 $402.3K$425K
+5.6%
3 $674K$700.4K
+3.9%
4 $960K$1.1M
+19.8%
5+ $1.4M$1.5M
+7.9%

Summary: Lake View housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 19.8%, and 5+ bedroom homes increased by 7.9%.

Median Sold Price Compared To Nearby Neighborhoods

Southport Corridor
+14.6%
Wrigleyville
+11.6%
Lake View
+4.9%
Lakeview East
+2.0%
Boystown
-6.1%

Housing Supply in Lake View, IL

How many homes are available in Lake View, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
349376+7.7%

Summary: The Lake View real estate market had 376 homes for sale in October 2024, a 7.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 9093
+3.3%
2 132136
+3.0%
3 6065
+8.3%
4 2434
+41.7%
5+ 4348
+11.6%

Summary: The Lake View housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 41.7%, and 5+ bedroom homes increased by 11.6%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
10984-22.9%

Asking Price vs. Sold Price

40 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

31 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake View, you may be able to get a good deal. 47.6% of homes here sold below asking price last month.

Summary: A total of 84 homes were sold or pending in Lake View in October 2024, down by 22.9% month-over-month. Of the 84 sold homes, 48% were sold under asking, 15% were sold at asking, and 37% were sold over asking.

Days on Market for Lake View, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days18 Days-9.9%

Summary: Homes in Lake View had an average of 18 days on market in Oct 2024, down by 9.9% compared to last year.

Breakdown of Home Sale Times

67 Homes Were Sold
Under 30 Days

16 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 View are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 84 homes were sold in Lake View; 80% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 1% 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 16 Days Ago

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