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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lyons Township is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Lyons Township, IL

How much do homes in Lyons Township, IL cost?

Median Sold Price

$391,923

$243/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$21,879(+5.9%)

Key Takeaway

Homes in Lyons Township have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in Lyons Township was $391,923 in May 2024, up 5.9% from last year, and the median price per square foot was $243.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $125K$160K
+28.0%
2 $228K$251K
+10.1%
3 $351.2K$370.2K
+5.4%
4 $604.1K$608K
+0.6%
5+ $820K$815K
-0.6%

Summary: Lyons Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 0.6%.

Median Sold Price Compared To Nearby Cities

Indian Head Park
+15.6%
Lyons Township
+5.9%
Countryside
-2.8%

Housing Supply in Lyons Township, IL

How many homes are available in Lyons Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
358401+12.0%

Summary: The Lyons Township real estate market had 401 homes for sale in May 2024, a 12.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 99
0.0%
2 6568
+4.6%
3 129141
+9.3%
4 85111
+30.6%
5+ 7072
+2.9%

Summary: The Lyons 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 increased by 4.6%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 30.6%, and 5+ bedroom homes increased by 2.9%.

Number of Homes Sold

Apr 2024May 2024CHANGE
103115+11.7%

Asking Price vs. Sold Price

41 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

60 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lyons Township, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.

Summary: A total of 115 homes were sold or pending in Lyons Township in May 2024, up by 11.7% month-over-month. Of the 115 sold homes, 36% were sold under asking, 12% were sold at asking, and 52% were sold over asking.

Days on Market for Lyons Township, IL

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

Average Sale Time

May 2023May 2024CHANGE
36 Days20 Days-44.5%

Summary: Homes in Lyons Township had an average of 20 days on market in May 2024, down by 44.5% compared to last year.

Breakdown of Home Sale Times

92 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 115 homes were sold in Lyons Township; 80% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% 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 Lyons Township, IL

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