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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Bluff is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Lake Bluff, IL

How much do homes in Lake Bluff, IL cost?

Median Sold Price

$630,000

$277/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$5,000(+0.8%)

Key Takeaway

Homes in Lake Bluff have sold for 0.8% more than they did a year ago.

Summary: The median home sold price in Lake Bluff was $630,000 in May 2024, up 0.8% from last year, and the median price per square foot was $277.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$240K
N/A
2 $282.5K$241.2K
-14.6%
3 $482.5K$565K
+17.1%
4 $877K$765.2K
-12.7%
5+ $850K$975K
+14.7%

Summary: Lake Bluff 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 decreased by 14.6%, 3 bedroom homes increased by 17.1%, 4 bedroom homes decreased by 12.7%, and 5+ bedroom homes increased by 14.7%.

Median Sold Price Compared To Nearby Cities

Shields Township
+16.1%
North Chicago
+7.4%
Lake Bluff
+0.8%
Lake Forest
-7.1%

Housing Supply in Lake Bluff, IL

How many homes are available in Lake Bluff, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5456+3.7%

Summary: The Lake Bluff real estate market had 56 homes for sale in May 2024, a 3.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1112
+9.1%
3 1116
+45.5%
4 2220
-9.1%
5+ 97
-22.2%

Summary: The Lake Bluff 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 increased by 9.1%, 3 bedroom homes increased by 45.5%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 22.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1315+15.4%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Bluff, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Lake Bluff in May 2024, up by 15.4% month-over-month. Of the 15 sold homes, 53% were sold under asking, 7% were sold at asking, and 40% were sold over asking.

Days on Market for Lake Bluff, IL

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

Average Sale Time

May 2023May 2024CHANGE
22 Days32 Days+40.1%

Summary: Homes in Lake Bluff had an average of 32 days on market in May 2024, up by 40.1% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 15 homes were sold in Lake Bluff; 80% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 13% 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

Newest Listings in Lake Bluff, IL

Nearby Markets to Lake Bluff, IL

What housing markets are near Lake Bluff, IL?