Is Lena, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lena is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Lena has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Lena, IL

How much do homes in Lena, IL cost?

Median Sold Price

$197,500

$150/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

+$102,500(+107.9%)

Key Takeaway

Homes in Lena have sold for 107.9% more than they did a month ago.

Summary: The median home sold price in Lena was $197,500 in May 2024, up 107.9% from last month, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 $95K$165K
+73.7%
3 -$230K
N/A
4 --
N/A
5+ --
N/A

Summary: Lena housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 73.7%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Lena, IL

How many homes are available in Lena, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
58+60.0%

Summary: The Lena real estate market had 8 homes for sale in May 2024, a 60.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 33
0.0%
3 23
+50.0%
4 01
+100.0%
5+ 01
+100.0%

Summary: The Lena 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lena, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Lena in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for Lena, IL

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

Average Sale Time

Apr 2024May 2024CHANGE
81 Days32 Days-59.9%

Summary: Homes in Lena had an average of 32 days on market in May 2024, down by 59.9% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 2 homes were sold in Lena; 50% of homes were sold within 30 days, 50% 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 Lena, IL

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