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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lombard is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Lombard, IL

How much do homes in Lombard, IL cost?

Median Sold Price

$328,600

$221/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$19,783(+6.4%)

Key Takeaway

Homes in Lombard have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in Lombard was $328,600 in May 2024, up 6.4% from last year, and the median price per square foot was $221.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $122.5K$145K
+18.4%
2 $245K$275.5K
+12.4%
3 $325K$350K
+7.7%
4 $400K$425K
+6.3%
5+ $491.2K$431.2K
-12.2%

Summary: Lombard housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.4%, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 12.2%.

Median Sold Price Compared To Nearby Cities

Milton Township
+8.8%
Lombard
+6.4%
Villa Park
+5.5%
Glen Ellyn
+3.7%
York Township
+3.6%

Housing Supply in Lombard, IL

How many homes are available in Lombard, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
144157+9.0%

Summary: The Lombard real estate market had 157 homes for sale in May 2024, a 9.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 88
0.0%
2 4140
-2.4%
3 6067
+11.7%
4 2632
+23.1%
5+ 910
+11.1%

Summary: The Lombard 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 2.4%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
5248-7.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

31 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lombard, you could pay more than the asking price. 64.6% of homes here sold above asking price last month.

Summary: A total of 48 homes were sold or pending in Lombard in May 2024, down by 7.7% month-over-month. Of the 48 sold homes, 21% were sold under asking, 15% were sold at asking, and 65% were sold over asking.

Days on Market for Lombard, IL

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

Average Sale Time

May 2023May 2024CHANGE
16 Days10 Days-34.0%

Summary: Homes in Lombard had an average of 10 days on market in May 2024, down by 34% compared to last year.

Breakdown of Home Sale Times

43 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 48 homes were sold in Lombard; 90% of homes were sold within 30 days, 10% 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 4 Days Ago

Newest Listings in Lombard, IL

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