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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Libertyville is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Libertyville, IL

How much do homes in Libertyville, IL cost?

Median Sold Price

$540,000

$224/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$40,033(+8.0%)

Key Takeaway

Homes in Libertyville have sold for 8% more than they did a year ago.

Summary: The median home sold price in Libertyville was $540,000 in May 2024, up 8% from last year, and the median price per square foot was $224.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $118K$141K
+19.5%
2 $252K$239.5K
-5.0%
3 $375K$371.5K
-0.9%
4 $585K$624.9K
+6.8%
5+ $842.5K$760K
-9.8%

Summary: Libertyville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.5%, 2 bedroom homes decreased by 5%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 9.8%.

Median Sold Price Compared To Nearby Cities

Mundelein
+13.3%
Libertyville
+8.0%
Libertyville Township
+5.2%
Green Oaks
-0.1%

Housing Supply in Libertyville, IL

How many homes are available in Libertyville, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
122132+8.2%

Summary: The Libertyville real estate market had 132 homes for sale in May 2024, a 8.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1417
+21.4%
3 3335
+6.1%
4 5555
0.0%
5+ 2025
+25.0%

Summary: The Libertyville 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 21.4%, 3 bedroom homes increased by 6.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3339+18.2%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Libertyville, you could pay more than the asking price. 48.7% of homes here sold above asking price last month.

Summary: A total of 39 homes were sold or pending in Libertyville in May 2024, up by 18.2% month-over-month. Of the 39 sold homes, 33% were sold under asking, 18% were sold at asking, and 49% were sold over asking.

Days on Market for Libertyville, IL

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

Average Sale Time

May 2023May 2024CHANGE
18 Days18 Days-3.5%

Summary: Homes in Libertyville had an average of 18 days on market in May 2024, down by 3.5% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 39 homes were sold in Libertyville; 87% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 8% 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 Libertyville, IL

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