Buying or Selling in Fox Lake? Here’s What Today’s Market Means for You

If you’re considering buying or selling a home in Fox Lake, IL, understanding the current market trends can make a big difference in your decision-making. Here’s what’s happening in the market—and how Stellar Results Realty and our expert agents are ready to guide you every step of the way.

Months Supply of Inventory: 2.55 Months

The Months Supply of Inventory tells us how long it would take to sell all current homes if no new properties were listed. With only 2.55 months of inventory, Fox Lake is in a seller’s market, where demand outpaces supply. This typically means more competition among buyers and can be a favorable time to list a home.

How This Impacts You:

• Sellers: Limited inventory gives your home a great chance to stand out. Our team at Stellar Results Realty will ensure your property gets the attention it deserves, positioning it to attract competitive offers quickly.
• Buyers: The low inventory means fewer choices, so when you find the right home, it’s essential to act fast. Our agents are here to help you stay ahead of the competition and secure your ideal property in this fast-moving market.

12-Month Change in Inventory: +71.14%

Over the past year, inventory in Fox Lake has increased by 71.14%, meaning more homes are available now than the previous year. This change could be due to new listings, increased construction, or shifting demand.

How This Impacts You:

• Sellers: With more properties on the market, it’s essential to stand out. Our agents know how to make your home shine through strategic marketing and effective pricing, helping you attract the right buyers.
• Buyers: The increase in available homes may provide more choices, easing the competition a bit. Stellar Results Realty can help you explore the best options that meet your needs in this expanded market.

Median Days on Market: 20 Days

Homes in Fox Lake are selling within an average of 20 days. This quick turnaround means that well-presented homes with competitive pricing are moving fast.

How This Impacts You:

• Sellers: A short market time works to your advantage, allowing you to secure a sale swiftly. Our experienced agents will work with you to prepare, price, and present your home to attract interested buyers quickly.
• Buyers: With homes selling fast, it’s essential to be ready to make a decision when you find the right fit. Our team will help you stay prepared to act confidently in this brisk market.

List to Sold Price Percentage: 98.5%

The List to Sold Price Percentage is 98.5%, showing that homes are typically selling close to their asking prices. This reflects a balanced market where sellers are pricing homes realistically, and buyers are willing to pay near the listing price.

How This Impacts You:

• Sellers: Setting the right price from the start is key. At Stellar Results Realty, we’ll help you determine a competitive and strategic price that aligns with market trends, ensuring your home captures buyers’ interest.
• Buyers: Be prepared to make an offer close to the asking price. Our agents will guide you through crafting strong offers that position you competitively for the home you want.

Median Sold Price: $225,000

The Median Sold Price in Fox Lake is $225,000, giving both buyers and sellers a benchmark for planning their budgets and pricing expectations.

How This Impacts You:

• Sellers: Knowing the median price helps set realistic expectations. We’ll work with you to create a pricing strategy that reflects your home’s unique qualities while staying attractive in the current market.
• Buyers: This figure gives a sense of the area’s affordability. Our agents are ready to help you find homes that align with your budget and lifestyle, ensuring you find a great fit within your range.

In Summary

The Fox Lake market shows steady demand, quick sales, and close-to-listing price offers, making it an advantageous market for sellers, while the rising inventory provides buyers with a bit more choice.

At Stellar Results Realty, our dedicated team is ready to guide you through each step, whether you’re looking to sell and take advantage of the high demand or buy and explore the expanded inventory. Connect with our agents today, and let’s achieve stellar results together!