Is Lakewood, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Lakewood was a Seller's Market.
Housing Prices in Lakewood, IL
How much do homes in Lakewood, IL cost?
Median Sold Price
$530,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lakewood was $530,000 in March 2024, up 13.1% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $285K | $265.2K | -6.9% |
3 Bedrooms | $390K | $400K | +2.6% |
4 Bedrooms | $553K | $575K | +4.0% |
5+ Bedrooms | $605K | $635K | +5.0% |
Summary: Lakewood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.9%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Cities
Crystal Lake | $285K | $345.5K | +21.3% |
Lakewood | $468.5K | $530K | +13.1% |
Dorr Township | $275.6K | $300K | +8.8% |
Grafton Township | $360K | $375.1K | +4.2% |
Lake in the Hills | $306.1K | $313.3K | +2.4% |
Housing Supply in Lakewood, IL
How many homes are available in Lakewood, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 13 | +18.2% |
Summary: The Lakewood real estate market had 13 homes for sale in March 2024, a 18.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 1 | 1 | 0.0% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Lakewood housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Lakewood in March 2024, down by 33.3% 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 Lakewood, IL
How long does it take to sell a home in Lakewood, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 36 Days | -4.3% |
Summary: Homes in Lakewood had an average of 36 days on market in Mar 2024, down by 4.3% compared to last year.
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
Summary: During March 2024, 2 homes were sold in Lakewood; 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.