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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Round Lake is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Round Lake, IL

How much do homes in Round Lake, IL cost?

Median Sold Price

$278,500

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$13,500(+5.1%)

Key Takeaway

Homes in Round Lake have sold for 5.1% more than they did a year ago.

Summary: The median home sold price in Round Lake was $278,500 in November 2024, up 5.1% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $108K$119.7K
+10.9%
2 $218K$237.5K
+8.9%
3 $263.5K$270K
+2.5%
4 $360K$385K
+6.9%
5+ $435K$463.6K
+6.6%

Summary: Round Lake housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.9%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 6.6%.

Median Sold Price Compared To Nearby Cities

Round Lake Park
+22.4%
Round Lake Beach
+9.2%
Avon Township
+6.1%
Round Lake
+5.1%
Grant Township
+4.6%

Housing Supply in Round Lake, IL

How many homes are available in Round Lake, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7782+6.5%

Summary: The Round Lake real estate market had 82 homes for sale in November 2024, a 6.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 2631
+19.2%
3 3531
-11.4%
4 1317
+30.8%
5+ 33
0.0%

Summary: The Round Lake 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 19.2%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2023+15.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Round Lake, expect to pay close to the asking price. 34.8% of homes here sold near the asking price last month.

Summary: A total of 23 homes were sold or pending in Round Lake in November 2024, up by 15.0% month-over-month. Of the 23 sold homes, 30% were sold under asking, 35% were sold at asking, and 35% were sold over asking.

Days on Market for Round Lake, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
21 Days26 Days+21.9%

Summary: Homes in Round Lake had an average of 26 days on market in Nov 2024, up by 21.9% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 23 homes were sold in Round Lake; 65% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 4% 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 2 Days Ago

Newest Listings in Round Lake, IL

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