Is Lombard, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lombard has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $122.5K | $145K | +18.4% |
2 Bedrooms | $245K | $275.5K | +12.4% |
3 Bedrooms | $325K | $350K | +7.7% |
4 Bedrooms | $400K | $425K | +6.3% |
5+ Bedrooms | $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 | $399.9K | $435.3K | +8.8% |
Lombard | $308.8K | $328.6K | +6.4% |
Villa Park | $299.4K | $316K | +5.5% |
Glen Ellyn | $444.9K | $461.5K | +3.7% |
York Township | $363.9K | $377.1K | +3.6% |
Housing Supply in Lombard, IL
How many homes are available in Lombard, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
144 | 157 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 8 | 0.0% |
2 Bedrooms | 41 | 40 | -2.4% |
3 Bedrooms | 60 | 67 | +11.7% |
4 Bedrooms | 26 | 32 | +23.1% |
5+ Bedrooms | 9 | 10 | +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 2024 | May 2024 | CHANGE |
---|---|---|
52 | 48 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 10 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
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.