Is Loves Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Loves Park is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Loves Park, IL

How much do homes in Loves Park, IL cost?

Median Sold Price

$175,000

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$11,950(+7.3%)

Key Takeaway

Homes in Loves Park have sold for 7.3% more than they did a year ago.

Summary: The median home sold price in Loves Park was $175,000 in May 2024, up 7.3% from last year, and the median price per square foot was $129.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $130K$66.5K
-48.8%
2 $139.9K$150.5K
+7.6%
3 $183.9K$174K
-5.4%
4 $260K$285K
+9.6%
5+ $348.1K$383K
+10.0%

Summary: Loves Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.8%, 2 bedroom homes increased by 7.6%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 10%.

Median Sold Price Compared To Nearby Cities

Caledonia Township
+13.3%
Loves Park
+7.3%
Harlem Township
+6.3%
Machesney Park
0.1%

Housing Supply in Loves Park, IL

How many homes are available in Loves Park, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4644-4.3%

Summary: The Loves Park real estate market had 44 homes for sale in May 2024, a 4.3% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 1513
-13.3%
3 2525
0.0%
4 46
+50.0%
5+ 10
-100.0%

Summary: The Loves Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 13.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2012-40.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Loves Park, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Loves Park in May 2024, down by 40.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.

Days on Market for Loves Park, IL

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

Average Sale Time

May 2023May 2024CHANGE
34 Days12 Days-63.1%

Summary: Homes in Loves Park had an average of 12 days on market in May 2024, down by 63.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 12 homes were sold in Loves Park; 92% of homes were sold within 30 days, 8% 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 8 Days Ago

Newest Listings in Loves Park, IL

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