Is Lee County, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lee County is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Lee County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Lee County, IL

How much do homes in Lee County, IL cost?

Median Sold Price

$159,900

$108/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$4,700(+3.0%)

Key Takeaway

Homes in Lee County have sold for 3% more than they did a year ago.

Summary: The median home sold price in Lee County was $159,900 in November 2024, up 3% from last year, and the median price per square foot was $108.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $105K$85.5K
-18.6%
2 $119K$127.6K
+7.2%
3 $170K$161.5K
-5.0%
4 $152K$205K
+34.9%
5+ $200K$178.7K
-10.6%

Summary: Lee County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.6%, 2 bedroom homes increased by 7.2%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 34.9%, and 5+ bedroom homes decreased by 10.6%.

Median Sold Price Compared To Nearby Counties

Bureau County
+15.3%
Ogle County
+13.1%
DeKalb County
+11.2%
Whiteside County
+10.3%
Lee County
+3.0%

Housing Supply in Lee County, IL

How many homes are available in Lee County, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
10598-6.7%

Summary: The Lee County real estate market had 98 homes for sale in November 2024, a 6.7% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 2217
-22.7%
3 5048
-4.0%
4 3027
-10.0%
5+ 36
+100.0%

Summary: The Lee County 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 22.7%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3026-13.3%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lee County, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in Lee County in November 2024, down by 13.3% month-over-month. Of the 26 sold homes, 62% were sold under asking, 19% were sold at asking, and 19% were sold over asking.

Days on Market for Lee County, IL

How long does it take to sell a home in Lee County, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
51 Days33 Days-35.4%

Summary: Homes in Lee County had an average of 33 days on market in Nov 2024, down by 35.4% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 26 homes were sold in Lee County; 65% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 12% 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 21 Days Ago

Newest Listings in Lee County, IL

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