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Featured local agent — Lake Summerset, IL
Sarah Mitchell
Compass Real Estate · Lake Summerset, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lake Summerset, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$276,250median sale price
How is the Lake Summerset, IL housing market right now?
The median home sale price in Lake Summerset, IL is $276,250, down 11.9% year-over-year. Homes sell in an average of 90 days with 14 active listings. The market is currently a balanced 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 Lake Summerset a buyer's or seller's market?
Lake Summerset, IL is currently a balanced market, based on 1.4 months of supply and homes selling in about 90 days. How we determine this →
Homes sold
10
Last 12 weeks
Days on market
90
Average pace
Active listings
14
1.4 months supply
Sale-to-list
95.0%
Below asking
What does the Lake Summerset housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $276,250 |
| Median list price | $319,000 |
| Year-over-year price change | -11.9% |
| Average days on market | 90 days |
| Active inventory | 14 listings |
| Months of supply | 1.4 months |
| Sale-to-list price ratio | 95.0% |
| Median price per sq ft | $106/sq ft |
| Homes sold (latest month) | 10 |
| New listings (latest month) | 6 |
| Listings with a price cut | 21.4% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Lake Summerset by property type?
How the Lake Summerset, 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 | $276,250 | $106/sq ft | 10 | 90 days |
Source: Redfin · Updated monthly
The Lake Summerset housing market is currently classified as a balanced market with a median sale price of $276,250. Prices have fallen 11.9% compared to last year, with homes spending an average of 90 days on market, indicating 1.4 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Homes for sale in Lake Summerset
There are currently 14 homes listed for sale in Lake Summerset, Illinois. The median listing price is $319K.
Active listings
14
Homes on market
Median list price
$319K
Avg. days on market
90
Days until sale
New this week
6
Newly listed
Who lives in Lake Summerset?
Population
2,240
Median income
$105,588/yr
Median age
46.1 years
Owner-occupied
87.8%
College grads
29.5%
Avg commute
37.6 min
Source: U.S. Census Bureau ACS
What is it like to live in Lake Summerset?
Lake Summerset is a community of approximately 2K residents with a median age of 46.1 years.The median household income is $105,588, which reflects a relatively affluent area with strong earning potential. 29.5% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 87.8%, reflecting strong community stability and long-term resident commitment. The average commute time is 37.6 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Lake Summerset offers a balanced lifestyle with accessible home values relative to local income levels.
Which cities are near Lake Summerset, IL?
Want a head-to-head view? Compare Lake Summerset side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Lake Summerset?
The median home sale price in Lake Summerset is $276,250, down 11.9% from last year.
How long do homes stay on market in Lake Summerset?
Homes typically spend 90 days on market before going under contract.
What is the median income in Lake Summerset?
The median household income is $105,588 per year.
Is Lake Summerset a buyer's or seller's market?
With 1.4 months of supply, Lake Summerset is currently a balanced market.
How much does a single-family home cost in Lake Summerset?
The median single-family home price in Lake Summerset, IL is $276,250 (about $106 per square foot).
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