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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Round Lake Beach is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Round Lake Beach, IL

How much do homes in Round Lake Beach, IL cost?

Median Sold Price

$226,666

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$22,166(+10.8%)

Key Takeaway

Homes in Round Lake Beach have sold for 10.8% more than they did a year ago.

Summary: The median home sold price in Round Lake Beach was $226,666 in May 2024, up 10.8% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $108.9K$120K
+10.1%
2 $146K$165K
+13.0%
3 $215K$250K
+16.3%
4 $240K$289.9K
+20.8%
5+ $250K$321K
+28.4%

Summary: Round Lake Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.1%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 28.4%.

Median Sold Price Compared To Nearby Cities

Avon Township
+12.0%
Lake Villa Township
+11.8%
Round Lake Beach
+10.8%
Lake Villa
0.2%

Housing Supply in Round Lake Beach, IL

How many homes are available in Round Lake Beach, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7172+1.4%

Summary: The Round Lake Beach real estate market had 72 homes for sale in May 2024, a 1.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 42
-50.0%
2 1419
+35.7%
3 3435
+2.9%
4 1512
-20.0%
5+ 44
0.0%

Summary: The Round Lake Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
2721-22.2%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Round Lake Beach, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.

Summary: A total of 21 homes were sold or pending in Round Lake Beach in May 2024, down by 22.2% month-over-month. Of the 21 sold homes, 24% were sold under asking, 19% were sold at asking, and 57% were sold over asking.

Days on Market for Round Lake Beach, IL

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

Average Sale Time

May 2023May 2024CHANGE
7 Days14 Days+92.5%

Summary: Homes in Round Lake Beach had an average of 14 days on market in May 2024, up by 92.5% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 21 homes were sold in Round Lake Beach; 86% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 5% 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

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