Photo: U.S. Department of Agriculture Preston Keres/Office of Communications-Photography Services Center · Public domain66 homes sold in Lake Summerset in the last year, at a typical $294K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Lake Summerset homes are listed.
Every place Lake Summerset homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Lake Summerset.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 100% of Lake Summerset’s sales, at a typical $299K (year to May 2026)
66 homes sold in the year to September 2026.
typical sale · 65 sold in the year to May 2026
- Per square foot
- $116IL $180
- Days to sell
- 62
- Sold over asking
- 15%
- Listings with a price cut
- 34%
About as many homes sell as usual, at twice the 2016 price
66 sales in the last year, against 98 in 2021 and a low of 58 in 2023. The typical sale went from $147K in 2016 to $294K.
Source: Redfin Data Center, MLS sales; from June 2026 each month is a 3-month rolling window, its counts divided by 3. Typical price and $/sq ft are the monthly medians, weighted by sales. Redfin stopped publishing towns’ figures by property type after May 2026, so houses and condos are shown for the year to then.
What $300K buys in Lake Summerset
Check a listing against what Lake Summerset homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Lake Summerset are back to pre-pandemic levels, but half fewer homes come up for sale
We read every month of Lake Summerset’s home sales since 2015 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to September 2026, 66 sales.
If you’re buying in Lake Summerset
- Shop in March. It brings about 11 new listings a month, close to the busiest month, with fewer bidding wars (7% over asking).
- Offer under asking. Buyers paid 96.1% of the list price on average; 10% paid over.
- You’ll usually have time. Only 39% of homes go under contract within two weeks; the typical one takes 53 days.
Spring brings both the most homes and the most bidding wars
March has the most new listings (about 11 a month), but April is the most competitive: 17% of April sales close over asking. March has the least competition (7%).
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than Illinois
| Lake Summerset now | 2017–19 | 2021 peak | IL now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 10% | 5% | 21% | 36% |
| Gone within two weeksShare of homes under contract within 14 days | 39% | 5% | 10% | 45% |
| Price paid vs. askingAverage sale price ÷ list price | 96.1% | 94.6% | 97.8% | 99% |
| Days to sellMedian days from listing to contract | 53 | 121 | 45 | 51 |
15 homes for sale on a typical day
That’s 1.6 times the 2024 low (9), 50% fewer than in 2017–19 and well under 2015’s 42.
Lake Summerset ranks 325th of 327 busy Illinois markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Lake Summerset is one of the state’s calmer markets.
Source: Redfin Data Center, city figures, January 2015 to September 2026 (MLS sales, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Lake Summerset home costs about $2,070 a month
Price: Lake Summerset’s typical sale, last 12 months. Property tax at Lake Summerset’s 2.2% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Lake Summerset is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in March
The month with the most choice. December has the fewest, about 2.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $294K home, about $6,430 a year.
Taxes vs. neighborsSchools
The schools grade for Lake Summerset, from test results, graduation and how much students grow.
Schools in Lake SummersetTypical commute
The average one-way trip to work for people who live in Lake Summerset.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Willow Lake sells for less a square foot; Brodhead and Orfordville for far more
The busier markets within 25 miles of Lake Summerset, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Lake Summerset | 66 | $294K | $116 | 10% | 53 |
| Brodhead | 39 | $257K | $172 | 28% | 71 |
| Orfordville | 38 | $313K | $189 | 26% | 105 |
| Westlake Village | 24 | $314K | $136 | 6% | 27 |
| Winnebago | 22 | $250K | $140 | 49% | 43 |
| Willow Lake | 22 | $239K | $105 | 30% | 27 |
| Pecatonica | 22 | $194K | $130 | 48% | 19 |
Redfin Data Center, October 2025 to September 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Lake Summerset, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Lake Summerset. People who follow the town see it, and so do people comparing Lake Summerset with their own town. No commission, no listing fee.
Questions about buying a home in Lake Summerset
What do homes sell for in Lake Summerset, IL?
66 homes sold in the year to September 2026 at a typical $294K, $116 a square foot.
Is Lake Summerset a buyer’s or seller’s market?
A balanced market: 22 homes were for sale in September 2026 and 5 sold, about 4.4 months of supply. Buyers paid 96.1% of asking on average.
When is the best time to buy in Lake Summerset?
March brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Lake Summerset?
About 2.2% of a home’s value a year. On a $294K home that’s near $6,430.
Where can I see homes for sale in Lake Summerset?
Zillow, Redfin, Realtor.com and Homes.com all carry Lake Summerset’s MLS listings; the search links above open each one filtered to Lake Summerset.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).