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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spring Lake Township is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Spring Lake Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Spring Lake Township, IL

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

Median Sold Price

$67,500

$60/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$74,500(-52.5%)

Key Takeaway

Homes in Spring Lake Township have sold for 52.5% less than they did a month ago.

Summary: The median home sold price in Spring Lake Township was $67,500 in October 2024, down 52.5% from last month, and the median price per square foot was $60.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $98K-
N/A
3 $265K$67.5K
-74.5%
4 --
N/A
5+ --
N/A

Summary: Spring Lake Township housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 74.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Spring Lake Township, IL

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

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
990.0%

Summary: The Spring Lake Township real estate market had 9 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 22
0.0%
2 22
0.0%
3 55
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Spring Lake 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
32-33.3%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spring Lake Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in Spring Lake Township in October 2024, down by 33.3% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for Spring Lake Township, IL

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

Average Sale Time

Sep 2024Oct 2024CHANGE
39 Days133 Days+241.0%

Summary: Homes in Spring Lake Township had an average of 133 days on market in Oct 2024, up by 241% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Spring Lake Township are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 2 homes were sold in Spring Lake Township; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 22 Days Ago

Newest Listings in Spring Lake Township, IL

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What housing markets are near Spring Lake Township, IL?