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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Villa Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Lake Villa Township, IL

How much do homes in Lake Villa Township, IL cost?

Median Sold Price

$329,720

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,720(+8.1%)

Key Takeaway

Homes in Lake Villa Township have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Lake Villa Township was $329,720 in October 2024, up 8.1% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $152K$50K
-67.1%
2 $220K$237.5K
+8.0%
3 $289.9K$300K
+3.5%
4 $359K$375K
+4.4%
5+ $442.7K$514K
+16.1%

Summary: Lake Villa Township 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 8%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 16.1%.

Median Sold Price Compared To Nearby Cities

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

Housing Supply in Lake Villa Township, IL

How many homes are available in Lake Villa Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
146171+17.1%

Summary: The Lake Villa Township real estate market had 171 homes for sale in October 2024, a 17.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 1424
+71.4%
3 8989
0.0%
4 3446
+35.3%
5+ 811
+37.5%

Summary: The Lake Villa Township 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 71.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes increased by 37.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
37370.0%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Villa Township, you may be able to get a good deal. 36.1% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in Lake Villa Township in October 2024, the same as the previous month. Of the 36 sold homes, 36% were sold under asking, 28% were sold at asking, and 36% were sold over asking.

Days on Market for Lake Villa Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
25 Days17 Days-30.0%

Summary: Homes in Lake Villa Township had an average of 17 days on market in Oct 2024, down by 30% compared to last year.

Breakdown of Home Sale Times

32 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 Villa Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 37 homes were sold in Lake Villa Township; 86% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 3% 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 Township, IL

Nearby Markets to Lake Villa Township, IL

What housing markets are near Lake Villa Township, IL?