Is Loves Park, 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, Loves Park has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $66.5K | -48.8% |
2 Bedrooms | $139.9K | $150.5K | +7.6% |
3 Bedrooms | $183.9K | $174K | -5.4% |
4 Bedrooms | $260K | $285K | +9.6% |
5+ Bedrooms | $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 | $225K | $255K | +13.3% |
Loves Park | $163K | $175K | +7.3% |
Harlem Township | $183.5K | $195K | +6.3% |
Machesney Park | $166.7K | $166.9K | 0.1% |
Housing Supply in Loves Park, IL
How many homes are available in Loves Park, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
46 | 44 | -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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 15 | 13 | -13.3% |
3 Bedrooms | 25 | 25 | 0.0% |
4 Bedrooms | 4 | 6 | +50.0% |
5+ Bedrooms | 1 | 0 | -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 2024 | May 2024 | CHANGE |
---|---|---|
20 | 12 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
34 Days | 12 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
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.