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

Third Lake is currently a seller's market with 0.5 months of supply. 50% of homes sell above asking price. The Ridley Sell Score for Third Lake is 57/100 (Moderate), based on 7 real-time market signals including inventory, pricing trends, and buyer demand.

What's the median home price in Third Lake?

The median home price in Third Lake is $303,750, down 26.9% year-over-year. The median price per square foot is $192. Homes sell in a median of 45 days with a sale-to-list ratio of 101.9%.

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

On a $303,750 home in Third Lake, a traditional listing agent charges around $9,113 (3% commission). Add buyer agent commission (3%), closing costs (1–2%), and you could spend $24,300 or more. With Ridley Essentials ($999) you save $8,114, and with Ridley Pro ($3,499) you save $5,614 while getting full agent support.

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

A traditional Third Lake listing agent typically charges 3% of the sale price — about $9,113 on a $303,750 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 $8,114–$5,614 compared to a traditional agent.

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

The median home in Third Lake currently spends 45 days on the market before going under contract, down 46% from last year. At a 101.9% sale-to-list ratio, sellers are getting very close to or above asking price.

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 $303,750 home, that could save you up to $5,614.

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 $9,113 commission.

National/Illinois

Third Lake, IL

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

The median home in Third Lake sells for $303,750 with prices down 26.9% year-over-year. The average seller pays $9,113 in commissions — Ridley’s flat fee saves you $5,614.

Third Lake Real Estate Market Conditions — April 2026

57out of 100

Ridley Sell Score

How it's scored →

Moderate

57/100

A balanced market with opportunities for well-priced homes.

What this means for sellers

The Third Lake market is balanced — neither strongly favoring buyers nor sellers. Accurate pricing is key: overpriced homes will sit, but correctly priced listings are still moving. Focus on presentation and pricing strategy to stand out. Sellers who prepare well can still achieve strong results.

Inventory TightnessFavors sellers

0.5 months of supply — well below the 5-month balanced threshold — 78% below the Illinois average of 2.3.

Price MomentumFavors buyers

Prices down 26.9% year-over-year — vs. +11.7% statewide.

Seller LeverageFavors sellers

Homes selling at 101.9% of asking — sellers are getting 1.9% above list on average. Illinois average is 96.8%.

Bidding ActivityFavors sellers

50% of homes selling above list price — 119% above the Illinois average of 22.8%.

Sale SpeedFavors sellers

45 median days on market — 30 days faster than the Illinois average.

Market UrgencyFavors buyers

0% 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.

$303,750

-26.9%

Days on Market

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

-46%

Price per Sq Ft

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

$192

Sale-to-List Ratio

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

101.9%

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.

0.5

Seller’s market

Competitiveness

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

Very Competitive

Sold Above List

Percentage of homes that sold for more than their list price.

50%

Strong demand

12-Month Price Trend

$599,000 → $303,750

▼49.3%

$600K$500K$400K$300K

MayJulSepNovJanMarApr

Data updated April 2026

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

Your savings

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

The average Third Lake homeowner saves $5,614 by selling with Ridley instead of paying the traditional 3% listing commission on a $303,750 home.

$0Estimated savings

That's 6 months of groceries — save 1.8% of your home value

Your Third Lake home value

$303,750

$50,000$10M

Traditional Agent (3%)

$9,113

Ridley Pro (flat fee)

$3,499

Ready to sell in Third Lake?

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Cost comparison

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

The total cost to sell a house in Third Lake in 2026 ranges from $999 with Ridley Essentials to approximately $9,113 with a traditional 3% commission on a $303,750 home.

	Traditional Agent	Best valueRidley Pro	Ridley Essentials	FSBO
Listing fee	$9,113	$3,499	$999	$0
Buyer agent	$8,5052.8% avg	$6,075~2% avg	$6,075~2% avg	$8,5052.8% avg
Closing costs (~1.5%)	$4,556	$4,556	$4,556	$4,556
Total cost	$22,174	$14,130	$11,630	$13,061
Net proceeds	$281,576	$289,620	$292,120	$290,689
You save	—	$8,044	$10,544	$9,113No support