Loraine, IL Foreclosures
How much do homes sell for in Loraine, IL?
The average home price is currently $125,275.
In Loraine, IL, how many homes are available?
There are currently 84 active home listings available in Loraine.
What’s the average rental cost in Loraine, IL?
The average rental price in Loraine is $974.
What is the most expensive home in Loraine?
The most expensive home sold in Loraine had a price of $471,590.
What is currently the cheapest priced home in Loraine, IL?
The cheapest home for sale in Loraine is priced at $18,641.
Living in Loraine, IL
Loraine, IL is a quaint village that offers a peaceful lifestyle amidst beautiful rural scenery. With a strong community feel, residents enjoy local parks, quality schools, and engaging community events. It provides a perfect balance of tranquility and accessibility to nearby urban amenities.
Current Market Conditions in Loraine, IL
The real estate market in Loraine, IL is currently experiencing moderate growth, with increased demand for single-family homes as buyers are attracted by the village's affordability and family-friendly environment. Prices have shown stable appreciation over the last few months, making it a smart investment opportunity for first-time homebuyers and those looking for second homes.
Recent trends indicate a shift towards a preference for larger homes with outdoor space, as many buyers are looking for properties that offer more room for social distancing and outdoor activities. This has contributed to a competitive landscape, with homes selling quickly, sometimes above asking price.
Home Value Estimator For Loraine, IL
There are currently 198 real estate properties
in Loraine, IL,
with a median automated valuation model (AVM) price
of $94,512.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Loraine, IL, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Loraine, IL,
is $125,275.00, with the most expensive house
in Loraine, IL, topping out
at $471,590.00 and the cheapest home
in Loraine, IL,
clocking in at $18,641.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Loraine, IL!
Rent Prices
In Loraine, IL
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Loraine, IL, is on
a rollercoaster ride. The
average rent price in Loraine, IL,
is $974.00. Indeed, when looking to rent in
Loraine, IL, you can expect to pay as little
as $590.00 or as much
as $1,490.00,
with the average rent median estimated to
be $940.00. The good news is that finding
an affordable and desirable property to rent in Loraine, IL
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
