Is Lemont Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lemont Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Lemont Township has remained a Seller's Market.

Key Takeaway

Lemont Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lemont Township, IL

How much do homes in Lemont Township, IL cost?

Median Sold Price

$497,500

$217/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$22,500(+4.7%)

Key Takeaway

Homes in Lemont Township have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Lemont Township was $497,500 in May 2024, up 4.7% from last year, and the median price per square foot was $217.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $219.2K$224.5K
+2.4%
2 $362.5K$355K
-2.1%
3 $410K$433.7K
+5.8%
4 $598.4K$650K
+8.6%
5+ $665K$758.2K
+14.0%

Summary: Lemont Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 14%.

Median Sold Price Compared To Nearby Cities

Lemont
+10.5%
Downers Grove Township
+7.4%
Lemont Township
+4.7%
Willow Springs
+3.7%
Woodridge
+1.6%

Housing Supply in Lemont Township, IL

How many homes are available in Lemont Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
8299+20.7%

Summary: The Lemont Township real estate market had 99 homes for sale in May 2024, a 20.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 1211
-8.3%
3 2434
+41.7%
4 3239
+21.9%
5+ 1213
+8.3%

Summary: The Lemont Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
20200.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lemont Township, you may be able to get a good deal. 45% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Lemont Township in May 2024, the same as the previous month. Of the 20 sold homes, 45% were sold under asking, 35% were sold at asking, and 20% were sold over asking.

Days on Market for Lemont Township, IL

How long does it take to sell a home in Lemont Township, IL?

Average Sale Time

May 2023May 2024CHANGE
23 Days13 Days-42.6%

Summary: Homes in Lemont Township had an average of 13 days on market in May 2024, down by 42.6% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lemont Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 20 homes were sold in Lemont Township; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Lemont Township, IL

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