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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lexington is a neutral's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Lexington was a Seller's Market.

Key Takeaway

Lexington is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Lexington, IL

How much do homes in Lexington, IL cost?

Median Sold Price

$185,000

$103/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$27,900(+17.8%)

Key Takeaway

Homes in Lexington have sold for 17.8% more than they did a year ago.

Summary: The median home sold price in Lexington was $185,000 in March 2024, up 17.8% from last year, and the median price per square foot was $103.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $108.4K$107.5K
-0.9%
3 $157.1K$301K
+91.6%
4 $207K$291K
+40.6%
5+ $137K-
N/A

Summary: Lexington 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 0.9%, 3 bedroom homes increased by 91.6%, 4 bedroom homes increased by 40.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Lexington Township
+18.4%
Lexington
+17.8%

Housing Supply in Lexington, IL

How many homes are available in Lexington, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
67+16.7%

Summary: The Lexington real estate market had 7 homes for sale in March 2024, a 16.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 11
0.0%
3 33
0.0%
4 11
0.0%
5+ 12
+100.0%

Summary: The Lexington 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 remained the same, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
110.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lexington, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Lexington in March 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Lexington, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
30 Days7 Days-76.7%

Summary: Homes in Lexington had an average of 7 days on market in Mar 2024, down by 76.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 1 homes were sold in Lexington; 100% of homes were sold within 30 days, 0% 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 25 Days Ago

Newest Listings in Lexington, IL

Nearby Markets to Lexington, IL