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 November 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

$333,366

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$27,917(+9.1%)

Key Takeaway

Homes in Lake Villa Township have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in Lake Villa Township was $333,366 in November 2024, up 9.1% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $152K$50K
-67.1%
2 $220.5K$240K
+8.8%
3 $290K$307K
+5.9%
4 $361K$389.5K
+7.9%
5+ $425.5K$514K
+20.8%

Summary: Lake Villa Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 67.1%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 20.8%.

Median Sold Price Compared To Nearby Cities

Lindenhurst
+11.1%
Round Lake Beach
+9.2%
Lake Villa Township
+9.1%
Lake Villa
+7.4%

Housing Supply in Lake Villa Township, IL

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

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
167173+3.6%

Summary: The Lake Villa Township real estate market had 173 homes for sale in November 2024, a 3.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 2532
+28.0%
3 8887
-1.1%
4 4244
+4.8%
5+ 119
-18.2%

Summary: The Lake Villa Township 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 increased by 28%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 18.2%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3848+26.3%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

11 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. 50% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in Lake Villa Township in November 2024, up by 26.3% month-over-month. Of the 48 sold homes, 50% were sold under asking, 23% were sold at asking, and 27% 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

Nov 2023Nov 2024CHANGE
23 Days29 Days+24.4%

Summary: Homes in Lake Villa Township had an average of 29 days on market in Nov 2024, up by 24.4% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

4 Homes Were 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 November 2024, 48 homes were sold in Lake Villa Township; 63% of homes were sold within 30 days, 29% 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 17 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?