Is Lake in the Hills, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake in the Hills has remained a Seller's Market.
Housing Prices in Lake in the Hills, IL
How much do homes in Lake in the Hills, IL cost?
Median Sold Price
$325,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake in the Hills was $325,000 in May 2024, up 8.1% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $101K | $125K | +23.9% |
2 Bedrooms | $198.9K | $230K | +15.6% |
3 Bedrooms | $300.5K | $315K | +4.8% |
4 Bedrooms | $385K | $405K | +5.2% |
5+ Bedrooms | $444.9K | $461.7K | +3.8% |
Summary: Lake in the Hills housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.9%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Cities
Crystal Lake | $290.9K | $350K | +20.3% |
Algonquin | $340K | $369.9K | +8.8% |
Lake in the Hills | $300.7K | $325K | +8.1% |
Lakewood | $496K | $528.5K | +6.6% |
Grafton Township | $359.9K | $376.8K | +4.7% |
Housing Supply in Lake in the Hills, IL
How many homes are available in Lake in the Hills, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
74 | 89 | +20.3% |
Summary: The Lake in the Hills real estate market had 89 homes for sale in May 2024, a 20.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 9 | 19 | +111.1% |
3 Bedrooms | 33 | 34 | +3.0% |
4 Bedrooms | 27 | 28 | +3.7% |
5+ Bedrooms | 4 | 7 | +75.0% |
Summary: The Lake in the Hills 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 111.1%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
19 | 32 | +68.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in Lake in the Hills in May 2024, up by 68.4% month-over-month. Of the 32 sold homes, 19% were sold under asking, 16% were sold at asking, and 66% were sold over asking.
Days on Market for Lake in the Hills, IL
How long does it take to sell a home in Lake in the Hills, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
8 Days | 11 Days | +29.7% |
Summary: Homes in Lake in the Hills had an average of 11 days on market in May 2024, up by 29.7% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 32 homes were sold in Lake in the Hills; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.