Loraine, IL Foreclosures
Current Market Conditions in in Loraine, IL As of January 2026?
In the past month, Loraine's real estate market has experienced a slight increase in home sales due to low-interest rates and a growing interest from remote workers seeking a tranquil living environment. Several listings have emerged, offering buyers a diverse range of properties. However, the overall activity has been tempered by the limited inventory of homes available, resulting in competitive pricing.
How much do homes sell for in Loraine, IL?
The average home price is currently $149,340.
In Loraine, IL, how many homes are available?
There are currently 1 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 $1,031,425.
What is currently the cheapest priced home in Loraine, IL?
The cheapest home for sale in Loraine is priced at $18,758.
Living in Loraine, IL
Loraine, Illinois, is a quaint village characterized by its small-town charm and friendly community. Residents enjoy a peaceful lifestyle with easy access to nearby cities for work and entertainment. The area offers a variety of outdoor activities, including parks and walking trails that promote an active and healthy lifestyle.
Buyer vs Seller Market in Loraine, IL
The real estate market in Loraine, IL, has been relatively stable over the past few years, with steady demand for residential homes. This stability is mainly driven by the area's appealing lifestyle and affordability compared to larger cities. Factors such as local amenities, community engagement, and access to outdoor activities contribute to the attractiveness of homes in Loraine.
In recent months, the market has seen a slight uptick in the number of homes available for sale, which provides potential buyers with more options. However, with increased demand, average home prices have begun to rise gradually, indicating a healthy interest in the local real estate market.
Home Value Estimator For Loraine, IL
There are currently 233 real estate properties
in Loraine, IL,
with a median automated valuation model (AVM) price
of $100,185.00. 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 $149,340.00, with the most expensive house
in Loraine, IL, topping out
at $1,031,425.00 and the cheapest home
in Loraine, IL,
clocking in at $18,758.00. 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.
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