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 October 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

$158,600

$108/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$3,600(+2.3%)

Key Takeaway

Homes in Lee County have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in Lee County was $158,600 in October 2024, up 2.3% from last year, and the median price per square foot was $108.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $122.5K$90K
-26.5%
2 $119K$125K
+5.0%
3 $169K$165K
-2.4%
4 $151K$195K
+29.1%
5+ $200K$187.5K
-6.3%

Summary: Lee County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.5%, 2 bedroom homes increased by 5%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 29.1%, and 5+ bedroom homes decreased by 6.3%.

Median Sold Price Compared To Nearby Counties

Bureau County
+14.3%
Ogle County
+13.5%
DeKalb County
+11.4%
Whiteside County
+10.8%
Lee County
+2.3%

Housing Supply in Lee County, IL

How many homes are available in Lee County, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1071070.0%

Summary: The Lee County real estate market had 107 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 2622
-15.4%
3 5153
+3.9%
4 2829
+3.6%
5+ 13
+200.0%

Summary: The Lee County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 15.4%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2329+26.1%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

13 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. 51.7% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in Lee County in October 2024, up by 26.1% month-over-month. Of the 29 sold homes, 52% were sold under asking, 3% were sold at asking, and 45% 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

Oct 2023Oct 2024CHANGE
50 Days27 Days-46.0%

Summary: Homes in Lee County had an average of 27 days on market in Oct 2024, down by 46% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

4 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 October 2024, 29 homes were sold in Lee County; 72% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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 4 Days Ago

Newest Listings in Lee County, IL

Nearby Markets to Lee County, IL

What housing markets are near Lee County, IL?