Important points
Prices in Lake County significantly outperformed the nation in June. Median sales price increased 6% year over year to $443,748, nearly triple the national price increase. Pending sales rose 13% year-over-year, the strongest monthly increase in a year, despite a 6% increase in inventory and a 17% increase in new listings. More than half of the homes sell for above list price, and properties typically go under contract within two weeks, demonstrating a deep sense of buyer impatience.
Snapshot of the Lake County, Illinois Housing Market
Median Sales Price Pending Sales Active Listing Days Listing Days Sold on List $443,748 (+6.3% YoY) 1,077 (+13.3% YoY) 3,251 (+5.6% YoY) 46 days (+1 day YoY) 51.1% (-2.5 ppt YoY)
Lake County’s housing market accelerated in June. Prices posted their highest annual rate of increase since early 2025, pending sales increased by double digits, and homes continued to sell above asking price. A huge increase in new properties gave buyers more options to choose from, but sellers remained firmly in control as demand quickly absorbed that supply.
Learn what you need to know about the Lake County, IL housing market as summer comes to an end and what buyers and sellers can do to be successful.
A snapshot of the US housing market
Median Sales Price Pending On Sale Active Listing Days Balance of Buyers and Sellers on Market $408,776 (+2.2% YoY) 349,254 (+4.5% YoY) 1,496,490 (+0.8% YoY) 49 Days (+1 Day YoY) Number of sellers outnumber buyers by 48.5%
The country as a whole saw a slight increase as prices rose 2%, pending sales rose about 5% and inventories were flat. In Lake County, the departure from national trends was even more pronounced. Local prices rose nearly three times faster, pending sales rose three times faster than the national rate, and home sales took place three days earlier than the national median price.
“June marked a crossroads in the continued recovery of the housing market,” said Chen Zhao, head of economic research at Redfin. “Prices rose faster than in recent months, with economic uncertainty related to the Iran war and rising mortgage rates spooking some home buyers and sellers.On the bright side, home sales are trending upwards and wages have risen faster than prices, helping There are areas of competition in the Midwest, Northeast, and Gulf Coast regions, but in general, consumers are still weathering a difficult period. Still, economists expect the market to improve gradually over the next few years.”
Prices in Lake County are rising three times faster than the nation.
Buyers who entered the Lake County market in June paid a clear premium over last year. The median sales price reached $443,748, up about 6% from a year ago and nearly triple the national pace of about 2%. Lake County is up about 70% since the beginning of 2020, outpacing the national rate of increase over the same period. Median price per square foot increased approximately 6% year-over-year to $228, confirming that price increases reflect true per-unit value growth rather than changes in the mix of homes sold.
Price reductions remained an unusual situation. Only about 11% of active listings had a reduced asking price, and the typical home sold for about 1% more than listed. Sellers set realistic prices and buyers consistently meet or exceed those prices.
Pending sales surge as buyers re-enter the market
The median time for a home to sell in Lake County was just 46 days from going under contract. That’s three days earlier than the national median and only one day earlier than a year ago. More than half (55%) of properties went under contract within two weeks, compared to 31% nationally. This 24 percentage point difference highlighted the depth of local demand. That percentage was down slightly from 57% last year, but still well above the pre-pandemic norm of 30-35%.
Pending sales rose about 13% year over year to 1,077, the largest increase since early 2025. Concluded sales increased approximately 4% to 976, confirming that the rapid increase in demand led to not only contracts but also actual transactions. Lake County buyers had to act fast. Expensive listings were absorbed before they could accumulate on the market.
New supplies arrived, but buyers kept pace
Even though more homes are on the market, supply still cannot keep up with demand. The number of active listings increased by approximately 6% year-on-year to 3,251, and the number of new listings increased by approximately 17% to 1,154, marking the largest influx of new supply since mid-2021. Nationwide, inventories remained almost flat. Unlike markets where increased inventory indicates weaker demand, Lake County’s increased supply was matched by a 13% increase in pending sales and a 4% increase in closed sales. Seller listed. Buyers bought earlier.
The number of months of supply remained at just over two months, almost unchanged from a year ago despite the increase in inventory, and significantly lower than the national average of 3.7 months. This level is definitely advantageous for sellers. Although buyers have more options than a year ago, competition for affordable homes remains strong, keeping the market firmly balanced in favor of sellers.
The top tier grew steadily, and the bottom tier appreciated the fastest.
Median price tier (YoY) Sold (YoY) DOM (YoY) Listing rate (YoY) Luxury (top 5%) $1,540,568 (+4.4%) 132 (-7.7%) 53 days (-6 days) 35.6% (+4.1 ppt) High price (65th – 95%) $671,441 (+6.4%) 760 (+0.4%) 45 days (-3 days) 51.2% (+1.4 ppt) Non-premium (35-65%) $380,825 (+6.2%) 595 (-9.4%) 46 days (-2 days) 48.6% (+0.6 ppt) Starter (5-35%) $254,093 (+6.6%) 516 (+5.7%) 47 days (+1 day) 46.7% (+3.1 ppt) Bottom (bottom 5%) $142,625 (+17.4%) 80 (+8.1%) 56 days (+4 days) 31.3% (-5.2 ppt)
Redfin Analysis of MLS Data • Rolling 3-month period (March-May 2026)
The bottom tier rose the fastest at about 17%, but with only 80 sales and a median price of $142,625, this rate reflected a small sample. The Starter tier was up about 7% due to increased sales volume (516 sales, up about 6%), with almost half of the homes selling above listing. Luxury homes (median price $1.54 million) were up 4%, but sold 6 days earlier than last year, and activity for the above list was up 4 percentage points.
Non-luxury and luxury goods both increased by about 6%, but non-luxury sales volume decreased by about 9%. This is probably a sign of subdued inventory at that price point rather than weak demand, given that list rates have remained stable. Across all tiers, days on market decreased or remained flat, except for the lowest and starter levels, where homes were left slightly longer. Buyers at every price point found competition, but those at the top were buying the fastest.
How buyers and sellers can navigate the Lake County market
Financing readiness became a deciding factor for buyers in Lake County in June. More than half of the homes went under contract within two weeks, and sales typically closed above asking price. Competitive offers require proof of funds and/or fixed rates, so be sure to not only pre-qualify, but be fully pre-approved before you begin your tour. The good news is that the number of new listings is up about 17%, so there are more options to choose from than at any point in the past two years. Use that choice strategically. But don’t be fooled into thinking that more time means more options.
When selling, our data confirms that the market values realistic pricing. Homes sold for about 1% above listing on average, and only 11% of active listings had price reductions. Well-located properties attracted offers within days. The median time on the market was just 46 years, with just over two months of supply. The main risk was high prices. When demand is this strong, well-positioned competitors move in while the remaining homes stand out for the wrong reasons.
Lake County, Illinois Market Data by City
Rolling three-month period (April to June 2026). Displays cities with 50 or more sales.
New sales listings for the city’s median sales price (year-over-year). Percentage of active DOM above supply Buffalo Grove $429,766 (-2.7% YoY) 183 248 350 47 56.5% 2.5 Highland Park $874,524 (+6.0% YoY) 153 185 265 35 56.5% 2.1 Waukegan $262,357 (+7.5% YoY) 137 168 265 47 54.6% 2.6 Mandelein $427,757 (+12.3% YoY) 118 167 227 49 45.3% 2.8 Gurney $399,782 (+3.2% YoY) 112 136 203 47 50.6% 2.5 Lake Forest $1,399,239 (-1.0% YoY) 98 96 172 50 53.2% 2.1 Vernon Hills $460,749 (+0.7% YoY) 94 127 181 44 42.5% 2.3 Grayslake $394,785 (+22.0% YoY) 91 120 168 42 59.7% 2.5 Deerfield $678,631 (-4.4% YoY) 88 126 165 35 52.4% 2.2 Libertyville $674,633 (+11.5% YoY) 87 128 168 38 50.7% 2.6 Round Lake Beach $284,845 (-1.6% YoY) 79 84 143 47 59.9% 2.4 Lake Zurich $534,709 (+6.9% YoY) 76 80 125 42 71.8% 1.8 Round Lake $304,834 (-16.0% YoY) 72 89 131 44 45.8% 2.1 Zion $270,103 (+3.9% YoY) 61 75 129 48 63.5% 3.1 Fox Lake $237,696 (-6.0% YoY) 61 103 150 49 35.1% 4.1 Wauconda $369,799 (-16.0% YoY) 60 70 117 50 28.9% 2.7 Lindenhurst $389,788 (+2.6% YoY) 59 81 111 43 58.7% 2.8 Antioch $397,284 (-0.4% YoY) 53 77 123 45 54.0% 3.5 Boro $356,796 (-8.0% YoY) 52 51 89 65 37.3% 2.2
This article was created in whole or in part using generative artificial intelligence (AI) technology with input from Chen Zhao, Head of Economic Research at Redfin. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and quotes contained in this article before relying on the information for any purpose. This information is not intended to substitute for advice from a real estate agent, financial advisor, or other qualified professional. County-level data are not seasonally adjusted. For more detailed housing market data, check out the Redfin Data Center.
