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Vernon Hills, Illinois 60061
Vernon Hills is a village located in Lake County, Illinois. Formerly a satellite of Libertyville, Illinois, the community has increasingly established its own identity as a retail center. As of the 2000 census, the village had a total population of 20,120. The total area of the village is 7.6 square miles.
Vernon Hills is the home of the Cuneo Museum, a converted mansion originally built in 1914 by Samuel Insull, founder of the Commonwealth Edison Company. John Cuneo, Sr. purchased the mansion in 1937 after the collapse of the Insull utility empire. Cuneo was the founder of the Cuneo Press and Hawthorn Mellody Dairy. The mansion is now an art museum.
There are six grade schools in the village served by the Hawthorn School District. High school students, who formerly went to Libertyville High School, now attend Vernon Hills High School.
Students living in the southwest corner of Vernon Hills attend Long Grove grade schools (Country Meadows & Woodlawn, District 96). Students in a small section of one subdivision go to Mundelein schools. Some subdivisions in southern Vernon Hills send students to Lincolnshire schools, including Adlai E. Stevenson High School
According to data from the Northern Illinois MLS there were 184 sales of detached homes in 2007, down from 238 in 2006. The average sales price was $505,957.00, this was a slight decline from $508,319.00 in 2006. Marketing times were an average of 142 days on the market, and increase over the 2006 average of 84 days.
As of January 6, 2008 there were 92 active listings of detached homes. At the 2007 level of absorption this is 6 months of available inventory. A 3-4 months supply of inventory is considered "in Balance"
Available inventory is oversupplied, sales volume is down -22.68%, sales prices are down -0.46%, days on market are up +69.04%..
There were 212 sales of attached homes & condominiums in 2007, down from 278 in 2006. The average sales price was $229,318.00, this was an increase from $223,820.00 in 2006. Marketing times were an average of 109 days on the market, and increase over the 2006 average of 68 days.
Currently there are 147 active listings. At the 2007 level of absorption of 17.66 sales per month there is 8.32 months of available inventory.
The available inventory in the condo/townhouse market is oversupplied, sales volume is down -23.74%, sales prices are up +2.39%, days on market are up +60.29%.
Overall the small changes in prices at this point can be considered stable, however, all of this points to a cooling market, long marketing times and lower prices in 2008.
If you have an active listing or need to sell in 2008 now is the time to get an appraisal. The market has changed and only the most competitively priced homes will be selling soon.
How to be sure that your listing is competitive? Get a current appraisal. Complete appraisals of single family homes and condominiums start at $275.00. this is a small price to pay for knowledge that will help you position your house in the current market.
Citywide Services provides residential appraisal service in Vernon Hills, Illinois 60061. Our appraisers are state certified and have experience with single family homes, town houses, condominiums as well as small residential income properties. When you need to find a real estate appraiser in Lake County contact Citywide.
To order an appraisal or to speak with an appraiser call 1-800-405-9718
Geographic Area: Vernon Hills/Indian Creek, Lake County Illinois 60061
| Subject |
Number |
Percent |
|
Subject |
Number |
Percent |
|
| Total housing units |
7,937 |
100.0 |
|
OCCUPANTS PER ROOM |
|
|
| UNITS IN STRUCTURE |
|
|
|
Occupied housing units |
7,683 |
100.0 |
| 1-unit, detached |
3,711 |
46.8 |
|
1.00 or less |
7,490 |
97.5 |
| 1-unit, attached |
1,653 |
20.8 |
|
1.01 to 1.50 |
90 |
1.2 |
| 2 units |
27 |
0.3 |
|
1.51 or more |
103 |
1.3 |
| 3 or 4 units |
619 |
7.8 |
|
|
|
|
| 5 to 9 units |
1,041 |
13.1 |
|
Specified owner-occupied units |
4,799 |
100.0 |
| 10 to 19 units |
441 |
5.6 |
|
VALUE |
|
|
| 20 or more units |
442 |
5.6 |
|
Less than $50,000 |
22 |
0.5 |
| Mobile home |
0 |
0.0 |
|
$50,000 to $99,999 |
323 |
6.7 |
| Boat, RV, van, etc. |
3 |
0.0 |
|
$100,000 to $149,999 |
746 |
15.5 |
| |
|
|
|
$150,000 to $199,000 |
819 |
17.1 |
| YEAR STRUCTURE BUILT |
|
|
|
$200,000 to $299,999 |
1,490 |
31.0 |
| 1999 to March 2000 |
558 |
7.0 |
|
$300,000 to $499,999 |
1,286 |
26.8 |
| 1995 to 1998 |
502 |
6.3 |
|
$500,000 to $999,999 |
99 |
2.1 |
| 1990 to 1994 |
1,156 |
14.6 |
|
$1,000,000 or more |
14 |
0.3 |
| 1980 to 1989 |
2,235 |
28.2 |
|
Median (dollars) |
225,500 |
(X) |
| 1970 to 1979 |
2,972 |
37.4 |
|
|
|
|
| 1960 to 1969 |
280 |
3.5 |
|
MORTGAGE STATUS AND SELECTED |
|
|
| 1940 to 1959 |
183 |
2.3 |
|
MONTHLY OWNER COSTS |
|
|
| 1939 or earlier |
51 |
0.6 |
|
With a mortgage |
4,400 |
91.7 |
| |
|
|
|
Less than $300 |
0 |
0.0 |
| ROOMS |
|
|
|
$300 to $499 |
15 |
0.3 |
| 1 room |
54 |
0.7 |
|
$500 to $699 |
44 |
0.9 |
| 2 rooms |
207 |
2.6 |
|
$700 to $999 |
414 |
8.6 |
| 3 rooms |
556 |
7.0 |
|
$1,000 to $1,499 |
1,174 |
24.5 |
| 4 rooms |
1,227 |
15.5 |
|
$1,500 to $1,999 |
1,144 |
23.8 |
| 5 rooms |
1,323 |
16.7 |
|
$2,000 or more |
1,609 |
33.5 |
| 6 rooms |
941 |
11.9 |
|
Median (dollars) |
1,747 |
(X) |
| 7 rooms |
969 |
12.2 |
|
Not mortgaged |
399 |
8.3 |
| 8 rooms |
1,261 |
15.9 |
|
Median (dollars) |
582 |
(X) |
| 9 or more rooms |
1,399 |
17.6 |
|
|
|
|
| Median (rooms) |
6.1 |
(X) |
|
SELECTED MONTHLY OWNER COSTS |
|
|
| |
|
|
|
AS A PERCENTAGE OF HOUSEHOLD |
|
|
| Occupied Housing Units |
7,683 |
100.0 |
|
INCOME IN 1999 |
|
|
| YEAR HOUSEHOLDER MOVED INTO UNIT |
|
|
|
Less than 15 percent |
1,061 |
22.1 |
| 1999 to March 2000 |
1,792 |
23.3 |
|
15 to 19 percent |
955 |
19.9 |
| 1995 to 1998 |
2,666 |
34.7 |
|
20 to 24 percent |
799 |
16.6 |
| 1990 to 1994 |
1,579 |
20.6 |
|
25 to 29 percent |
690 |
14.4 |
| 1980 to 1989 |
1,168 |
15.2 |
|
30 to 34 percent |
385 |
8.0 |
| 1970 to 1979 |
425 |
5.5 |
|
35 percent or more |
909 |
18.9 |
| 1969 or earlier |
53 |
0.7 |
|
Not computed |
0 |
0.0 |
| |
|
|
|
|
|
|
| VEHICLES AVAILABLE |
|
|
|
Specified renter-occupied units |
1,547 |
100.0 |
| None |
338 |
4.4 |
|
GROSS RENT |
|
|
| 1 |
2,434 |
31.7 |
|
Less than $200 |
30 |
1.9 |
| 2 |
3,972 |
51.7 |
|
$200 to $299 |
72 |
4.7 |
| 3 or more |
939 |
12.2 |
|
$300 to $499 |
27 |
1.7 |
| |
|
|
|
$500 to $749 |
220 |
14.2 |
| HOUSE HEATING FUEL |
|
|
|
$750 to $999 |
709 |
45.8 |
| Utility Gas |
6,887 |
89.6 |
|
$1,000 to $1,499 |
200 |
12.9 |
| Bottled, Tank, or LP gas |
39 |
0.5 |
|
$1,500 or more |
275 |
17.8 |
| Electricity |
687 |
8.9 |
|
No cash rent |
14 |
0.9 |
| Fuel oil, kerosene, etc. |
33 |
0.4 |
|
Median (dollars) |
865 |
(X) |
| Coal or coke |
0 |
0.0 |
|
|
|
|
| Wood |
0 |
0.0 |
|
GROSS RENT AS A PERCENTAGE OF |
|
|
| Solar energy |
0 |
0.0 |
|
HOUSEHOLD INCOME IN 1999 |
|
|
| Other fuel |
13 |
0.2 |
|
Less than 15 percent |
210 |
13.6 |
| No fuel used |
24 |
0.3 |
|
15 to 19 percent |
215 |
13.9 |
| |
|
|
|
20 to 24 percent |
275 |
17.8 |
| SELECTED CHARACTERISTICS |
|
|
|
25 to 29 percent |
220 |
14.2 |
| Lacking complete plumbing facilities |
12 |
0.2 |
|
30 to 34 percent |
95 |
6.1 |
| Lacking complete kitchen facilities |
41 |
0.5 |
|
35 percent or more |
497 |
32.1 |
| No telephone service |
21 |
0.3 |
|
Not computed |
35 |
2.3 |
| |
| -Represent zero or rounds to zero. (X) Not applicable. |
| Source: U.S. Bureau of the Census, Census 2000. |
Vernon Hills Relocation Appraisals
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