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 April 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

$173,500

$126/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$6,500(+3.9%)

Key Takeaway

Homes in Loves Park have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Loves Park was $173,500 in April 2024, up 3.9% from last year, and the median price per square foot was $126.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $130K$66.5K
-48.8%
2 $136K$150K
+10.3%
3 $183.9K$179K
-2.7%
4 $249.9K$285K
+14.0%
5+ $348.1K$383K
+10.0%

Summary: Loves Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.8%, 2 bedroom homes increased by 10.3%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 10%.

Median Sold Price Compared To Nearby Cities

Caledonia Township
+11.4%
Machesney Park
+4.9%
Loves Park
+3.9%
Harlem Township
+2.9%

Housing Supply in Loves Park, IL

How many homes are available in Loves Park, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
3840+5.3%

Summary: The Loves Park real estate market had 40 homes for sale in April 2024, a 5.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 1212
0.0%
3 2222
0.0%
4 34
+33.3%
5+ 01
+100.0%

Summary: The Loves Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
919+111.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

13 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. 68.4% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in Loves Park in April 2024, up by 111.1% month-over-month. Of the 19 sold homes, 21% were sold under asking, 11% were sold at asking, and 68% 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

Apr 2023Apr 2024CHANGE
31 Days20 Days-36.4%

Summary: Homes in Loves Park had an average of 20 days on market in Apr 2024, down by 36.4% compared to last year.

Breakdown of Home Sale Times

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

Summary: During April 2024, 19 homes were sold in Loves Park; 79% of homes were sold within 30 days, 11% 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 8 Days Ago

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