Is Lake Summerset a buyer's or seller's market right now?

Lake Summerset is currently a buyer's market with 10 months of supply. Homes are selling at 97.1% of list price, and 50% go pending within two weeks. The Ridley Sell Score for Lake Summerset is 42/100 (Cooling), based on 7 real-time market signals including inventory, pricing trends, and buyer demand.

What's the median home price in Lake Summerset?

The median home price in Lake Summerset is $218,500, down 19.7% year-over-year. The median price per square foot is $84. Homes sell in a median of 140 days with a sale-to-list ratio of 97.1%.

How much does it cost to sell a home in Lake Summerset, Illinois?

On a $218,500 home in Lake Summerset, a traditional listing agent charges around $6,555 (3% commission). Add buyer agent commission (3%), closing costs (1–2%), and you could spend $17,480 or more. With Ridley Essentials ($999) you save $5,556, and with Ridley Pro ($3,499) you save $3,056 while getting full agent support.

How does Ridley's flat fee compare to a traditional Lake Summerset agent?

A traditional Lake Summerset listing agent typically charges 3% of the sale price — about $6,555 on a $218,500 home. Ridley offers two flat-fee plans: Essentials ($999) with MLS listing, marketing tools, and self-service support, or Pro ($3,499) with a dedicated licensed agent. That saves you $5,556–$3,056 compared to a traditional agent.

How long does it take to sell a home in Lake Summerset?

The median home in Lake Summerset currently spends 140 days on the market before going under contract, up 136% from last year. 50% of homes go pending within two weeks. At a 97.1% sale-to-list ratio, sellers are seeing some negotiation.

Do I need a real estate agent to sell in Illinois?

No. Illinois does not require you to use a real estate agent to sell your home. You can sell independently (FSBO) or use a flat-fee service like Ridley that gives you MLS access, professional tools, and expert support at a fraction of the traditional commission. On a $218,500 home, that could save you up to $3,056.

What's included with Ridley Essentials and Pro?

Ridley offers two plans in Illinois. Essentials ($999) includes MLS listing distribution, professional listing tools, marketing materials, and self-service support. Pro ($3,499) includes everything in Essentials plus a dedicated licensed agent partner, expert pricing consultation, offer review and negotiation support, contract and deadline management, and full closing coordination. Both save significantly vs. the traditional $6,555 commission.

National/Illinois

Lake Summerset, IL

Is Now a Good Time to Sell in Lake Summerset, Illinois?

The median home in Lake Summerset sells for $218,500 with prices down 19.7% year-over-year. The average seller pays $6,555 in commissions — Ridley’s flat fee saves you $3,056.

Lake Summerset Real Estate Market Conditions — April 2026

42out of 100

Ridley Sell Score

How it's scored →

Cooling

42/100

The market is shifting — strategic pricing and presentation matter more.

What this means for sellers

The Lake Summerset market is cooling, and sellers need to be strategic. Homes are taking longer to sell — be patient and avoid chasing the market down. Invest in staging and professional photography to differentiate your listing. Flexibility on terms can make the difference in attracting serious buyers.

Inventory TightnessFavors buyers

10 months of supply — above the 5-month balanced threshold, giving buyers more options. Illinois average is 2.3.

Price MomentumFavors buyers

Prices down 19.7% year-over-year — vs. +11.7% statewide.

Seller LeverageFavors buyers

Homes selling at 97.1% of asking — buyers are negotiating 2.9% below list. Illinois average is 96.8%.

Bidding ActivityFavors buyers

0% of homes selling above list price — 100% below the Illinois average of 22.8%.

Sale SpeedFavors buyers

140 median days on market — 65 days slower than the Illinois average.

Market UrgencyFavors sellers

50% of listings go pending within 2 weeks — vs. 25.8% statewide.

Price StabilityFavors sellers

Only 0% of listings have dropped their price — sellers are holding firm. Illinois average is 13.6%.

Score based on 7 real-time market signals. Updated with latest available data.

How it works →

Median Sale Price

The midpoint price of all homes sold in the past month. Half sold for more, half for less.

$218,500

-19.7%

Days on Market

How long the typical home sits on the market before going under contract. Lower is better for sellers.

140

+136%

Price per Sq Ft

Average cost per square foot of living space. Useful for comparing homes of different sizes.

$84

Sale-to-List Ratio

How close homes sell to their asking price. Above 100% means bidding wars; below means negotiation room.

97.1%

Months of Supply

How long it would take to sell all current listings at the current pace. Under 3 months favors sellers; over 6 favors buyers.

Buyer’s market

Competitiveness

Overall market competition based on offers per listing, days on market, and sale-to-list ratio.

Not Very Competitive

Pending in 2 Weeks

Percentage of listings that went under contract within 14 days.

50%

Fast-moving

12-Month Price Trend

$267,500 → $218,500

▼18.3%

$260K$240K$220K

MayJulSepNovJanMarApr

Data updated April 2026

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Personalized pricing signals, demand shifts, and Sell Score changes for Lake Summerset — delivered monthly.

Your savings

How much can you save selling your home in Lake Summerset?

The average Lake Summerset homeowner saves $3,056 by selling with Ridley instead of paying the traditional 3% listing commission on a $218,500 home.

$0Estimated savings

That could furnish your new living room — save 1.4% of your home value

Your Lake Summerset home value

$218,500

$50,000$10M

Traditional Agent (3%)

$6,555

Ridley Pro (flat fee)

$3,499

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Cost comparison

How much does it cost to sell a house in Lake Summerset?

The total cost to sell a house in Lake Summerset in 2026 ranges from $999 with Ridley Essentials to approximately $6,555 with a traditional 3% commission on a $218,500 home.

	Traditional Agent	Best valueRidley Pro	Ridley Essentials	FSBO
Listing fee	$6,555	$3,499	$999	$0
Buyer agent	$6,1182.8% avg	$4,370~2% avg	$4,370~2% avg	$6,1182.8% avg
Closing costs (~1.5%)	$3,278	$3,278	$3,278	$3,278
Total cost	$15,951	$11,147	$8,647	$9,396
Net proceeds	$202,549	$207,353	$209,853	$209,104
You save	—	$4,804	$7,304	$6,555No support