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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lockport Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Lockport Township, IL

How much do homes in Lockport Township, IL cost?

Median Sold Price

$285,000

$177/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$30,208(+11.9%)

Key Takeaway

Homes in Lockport Township have sold for 11.9% more than they did a year ago.

Summary: The median home sold price in Lockport Township was $285,000 in March 2024, up 11.9% from last year, and the median price per square foot was $177.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $132K$168K
+27.3%
2 $239.5K$265K
+10.6%
3 $259.3K$290K
+11.8%
4 $332.9K$380K
+14.1%
5+ $290K$475K
+63.8%

Summary: Lockport Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.3%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes increased by 63.8%.

Median Sold Price Compared To Nearby Cities

Joliet Township
+26.6%
Crest Hill
+15.4%
Lockport Township
+11.9%
Romeoville
+7.2%
Lockport
+6.7%

Housing Supply in Lockport Township, IL

How many homes are available in Lockport Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
193228+18.1%

Summary: The Lockport Township real estate market had 228 homes for sale in March 2024, a 18.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 21
-50.0%
2 8292
+12.2%
3 7594
+25.3%
4 2936
+24.1%
5+ 55
0.0%

Summary: The Lockport Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 25.3%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
4857+18.8%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

21 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lockport Township, you may be able to get a good deal. 46.4% of homes here sold below asking price last month.

Summary: A total of 57 homes were sold or pending in Lockport Township in March 2024, up by 18.8% month-over-month. Of the 56 sold homes, 46% were sold under asking, 16% were sold at asking, and 38% were sold over asking.

Days on Market for Lockport Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
29 Days32 Days+8.5%

Summary: Homes in Lockport Township had an average of 32 days on market in Mar 2024, up by 8.5% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 57 homes were sold in Lockport Township; 68% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 16% 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 18 Days Ago

Newest Listings in Lockport Township, IL

Nearby Markets to Lockport Township, IL

What housing markets are near Lockport Township, IL?