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Featured local agent — Gages Lake, IL
Sarah Mitchell
Compass Real Estate · Gages Lake, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Gages Lake, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$405,000median sale price
How is the Gages Lake, IL housing market right now?
The median home sale price in Gages Lake, IL is $405,000, up 34.3% year-over-year. Homes sell in an average of 29 days with 28 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Gages Lake a buyer's or seller's market?
Gages Lake, IL is currently a strong seller's market, based on 2.8 months of supply and homes selling in about 29 days. How we determine this →
Homes sold
10
Last 12 weeks
Days on market
29
Average pace
Active listings
28
2.8 months supply
Sale-to-list
103.6%
Above asking
What does the Gages Lake housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $405,000 |
| Median list price | $325,000 |
| Year-over-year price change | +34.3% |
| Average days on market | 29 days |
| Active inventory | 28 listings |
| Months of supply | 2.8 months |
| Sale-to-list price ratio | 103.6% |
| Median price per sq ft | $224/sq ft |
| Homes sold (latest month) | 10 |
| New listings (latest month) | 19 |
| Listings with a price cut | 10.7% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Gages Lake by property type?
How the Gages Lake, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $435,000 | $236/sq ft | 9 | 28 days |
| Condo / Co-op | $151,500 | $155/sq ft | 2 | 50 days |
| Townhouse | $265,000 | $152/sq ft | 1 | 29 days |
Source: Redfin · Updated monthly
The Gages Lake housing market is currently classified as a strong seller's market with a median sale price of $405,000. Prices have risen 34.3% compared to last year, with homes spending an average of 29 days on market, indicating 2.8 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.3x provides context for how home values compare to local earning capacity.
Homes for sale in Gages Lake
There are currently 28 homes listed for sale in Gages Lake, Illinois. The median listing price is $325K.
Active listings
28
Homes on market
Median list price
$325K
Avg. days on market
29
Days until sale
New this week
19
Newly listed
Who lives in Gages Lake?
Population
10,706
Median income
$105,114/yr
Median age
40.3 years
Owner-occupied
83.4%
College grads
40.5%
Avg commute
26.2 min
Source: U.S. Census Bureau ACS
What are homes worth in Gages Lake?
Zillow home value
$344,618
Price-to-income
3.3x
Source: Zillow Research
What is it like to live in Gages Lake?
Gages Lake is a community of approximately 11K residents with a median age of 40.3 years.The median household income is $105,114, which reflects a relatively affluent area with strong earning potential. 40.5% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 83.4%, reflecting strong community stability and long-term resident commitment. The average commute time is 26.2 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Gages Lake offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Gages Lake?
6 schools tracked · 2,018 students
The largest public schools serving Gages Lake, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Woodland Elementary
Grades 1-3 · 1,436 students
Woodland Primary School
Grades PK-K · 582 students
Gages Lake School
Grade range n/a
Laremont School
Grades PK-12
Cyd Lash Academy
Grade range n/a
SEDOL Sector Programs
Grade range n/a
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Gages Lake, IL?
Want a head-to-head view? Compare Gages Lake side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Gages Lake?
The median home sale price in Gages Lake is $405,000, up 34.3% from last year.
How long do homes stay on market in Gages Lake?
Homes typically spend 29 days on market before going under contract.
What is the median income in Gages Lake?
The median household income is $105,114 per year.
Is Gages Lake a buyer's or seller's market?
With 2.8 months of supply, Gages Lake is currently a strong seller's market.
What is the Zillow home value estimate for Gages Lake?
The Zillow Home Value Index (ZHVI) for Gages Lake is $344,618, representing the typical home value in the area.
What is the median condo price in Gages Lake?
The median condo/co-op sale price in Gages Lake, IL is $151,500, compared to $435,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Gages Lake?
The median single-family home price in Gages Lake, IL is $435,000 (about $236 per square foot).
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