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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lemont Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Lemont Township, IL

How much do homes in Lemont Township, IL cost?

Median Sold Price

$462,500

$216/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$9,999(-2.1%)

Key Takeaway

Homes in Lemont Township have sold for 2.1% less than they did a year ago.

Summary: The median home sold price in Lemont Township was $462,500 in March 2024, down 2.1% from last year, and the median price per square foot was $216.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $204.9K$223K
+8.8%
2 $366.5K$355K
-3.1%
3 $415K$419K
+1.0%
4 $600.5K$630K
+4.9%
5+ $652K$746.7K
+14.5%

Summary: Lemont Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 14.5%.

Median Sold Price Compared To Nearby Cities

Downers Grove Township
+4.0%
Lemont
+3.9%
Willow Springs
+1.6%
Woodridge
+1.0%
Lemont Township
-2.1%

Housing Supply in Lemont Township, IL

How many homes are available in Lemont Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6583+27.7%

Summary: The Lemont Township real estate market had 83 homes for sale in March 2024, a 27.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 23
+50.0%
2 119
-18.2%
3 2129
+38.1%
4 2331
+34.8%
5+ 811
+37.5%

Summary: The Lemont Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 38.1%, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes increased by 37.5%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
819+137.5%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lemont Township, you may be able to get a good deal. 63.2% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Lemont Township in March 2024, up by 137.5% month-over-month. Of the 19 sold homes, 63% were sold under asking, 11% were sold at asking, and 26% were sold over asking.

Days on Market for Lemont Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
30 Days31 Days+4.7%

Summary: Homes in Lemont Township had an average of 31 days on market in Mar 2024, up by 4.7% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 19 homes were sold in Lemont Township; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% 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 20 Days Ago

Newest Listings in Lemont Township, IL

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