Deer Park Housing Update: Prices Up, Inventory Tight Heading Into Spring
Deer Park, IL – March 24, 2026 – Home prices rose year over year in February as inventory stayed limited and rents eased slightly.
Top takeaways
- Median sale price reached $569K in February, up 18.5% year over year.
- Homes averaged 74 days on market, with limited sales activity.
- Average rent sits at $2,257 per month, down 9.5% from a year ago.
Market snapshot
The Deer Park housing market remains relatively tight heading into spring. In February 2026, the median sale price was $569,000, an 18.5% increase from February 2025. The median price per square foot was reported at $213. Only two homes closed during the month, underscoring how small shifts in activity can move pricing metrics in a low-volume market.
Over the past 12 months, 42 residential properties sold, with a reported median single-family price of $757,500 across that period. Inventory remains limited compared with buyer demand typical for Lake County suburbs, contributing to price resilience.
What’s for sale
Current listings show single-family homes generally ranging from the upper $500Ks to above $1.2M, with some townhome options around the mid-$400Ks. Public listing portals indicate a modest number of active properties available, consistent with the village’s smaller housing footprint.
For renters, the average monthly rent is $2,257, about 9.5% lower than a year ago. Two-bedroom units average above $3,200 per month, keeping Deer Park among the higher-priced rental markets in the region.
Financing backdrop
Statewide reports earlier this year placed average mortgage rates near 6.06% in mid-January 2026, the lowest level in roughly three years at that time. While rates fluctuate daily, modest easing has helped support buyer activity across Illinois even as affordability remains a concern.
Sources
https://www.redfin.com/city/29473/IL/Deer-Park/housing-market
https://www.wintercohen.com/city/deer-park-il
https://www.apartments.com/rent-market-trends/deer-park-il/
https://www.zillow.com/deer-park-il/
https://champaigncountyassociationofrealtors.com/assets/pdf/YearEnd2025MarketReport
Are you seeing more listings or stronger buyer traffic in your neighborhood this spring?