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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Villa is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Lake Villa, IL

How much do homes in Lake Villa, IL cost?

Median Sold Price

$335,100

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$10,100(+3.1%)

Key Takeaway

Homes in Lake Villa have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in Lake Villa was $335,100 in October 2024, up 3.1% from last year, and the median price per square foot was $171.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $152K$50K
-67.1%
2 $227.5K$264.3K
+16.2%
3 $300K$295K
-1.7%
4 $382.5K$392.5K
+2.6%
5+ $465K$530K
+14.0%

Summary: Lake Villa housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 67.1%, 2 bedroom homes increased by 16.2%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 14%.

Median Sold Price Compared To Nearby Cities

Round Lake Beach
+10.5%
Lindenhurst
+10.0%
Lake Villa Township
+8.1%
Antioch Township
+6.3%
Lake Villa
+3.1%

Housing Supply in Lake Villa, IL

How many homes are available in Lake Villa, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
5361+15.1%

Summary: The Lake Villa real estate market had 61 homes for sale in October 2024, a 15.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 711
+57.1%
3 2925
-13.8%
4 1320
+53.8%
5+ 45
+25.0%

Summary: The Lake Villa 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 increased by 57.1%, 3 bedroom homes decreased by 13.8%, 4 bedroom homes increased by 53.8%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2212-45.5%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Villa, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Lake Villa in October 2024, down by 45.5% month-over-month. Of the 12 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.

Days on Market for Lake Villa, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
26 Days26 Days-1.2%

Summary: Homes in Lake Villa had an average of 26 days on market in Oct 2024, down by 1.2% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 12 homes were sold in Lake Villa; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% 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

Newest Listings in Lake Villa, IL

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