Is Bannockburn, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bannockburn is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Bannockburn was a Neutral Market.

Key Takeaway

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

Housing Prices in Bannockburn, IL

How much do homes in Bannockburn, IL cost?

Median Sold Price

$1,065,000

$283/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$15,000(+1.4%)

Key Takeaway

Homes in Bannockburn have sold for 1.4% more than they did a year ago.

Summary: The median home sold price in Bannockburn was $1,065,000 in May 2024, up 1.4% from last year, and the median price per square foot was $283.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 --
N/A
3 -$1.2M
N/A
4 $1.2M$1.0M
-14.8%
5+ $995K$816K
-18.0%

Summary: Bannockburn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 14.8%, and 5+ bedroom homes decreased by 18%.

Median Sold Price Compared To Nearby Cities

West Deerfield Township
+10.0%
Deerfield
+4.4%
Highland Park
+4.2%
Bannockburn
+1.4%
Lake Forest
-7.1%

Housing Supply in Bannockburn, IL

How many homes are available in Bannockburn, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
35+66.7%

Summary: The Bannockburn real estate market had 5 homes for sale in May 2024, a 66.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 00
0.0%
3 11
0.0%
4 23
+50.0%
5+ 01
+100.0%

Summary: The Bannockburn housing inventory by bedroom type for May 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 increased by 50%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
02+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bannockburn, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 2 homes were sold or pending in Bannockburn in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Bannockburn, IL

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

Average Sale Time

May 2023May 2024CHANGE
135 Days4 Days-96.7%

Summary: Homes in Bannockburn had an average of 4 days on market in May 2024, down by 96.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 2 homes were sold in Bannockburn; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

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