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 May 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

$291,678

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$31,678(+12.2%)

Key Takeaway

Homes in Lockport Township have sold for 12.2% more than they did a year ago.

Summary: The median home sold price in Lockport Township was $291,678 in May 2024, up 12.2% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $132K$168K
+27.3%
2 $240K$269.6K
+12.3%
3 $262.5K$295.3K
+12.5%
4 $340K$385K
+13.2%
5+ $290K$475K
+63.8%

Summary: Lockport Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.3%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 63.8%.

Median Sold Price Compared To Nearby Cities

Joliet Township
+20.8%
Lockport Township
+12.2%
Crest Hill
+12.0%
Lockport
+8.8%
Romeoville
+7.7%

Housing Supply in Lockport Township, IL

How many homes are available in Lockport Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
246282+14.6%

Summary: The Lockport Township real estate market had 282 homes for sale in May 2024, a 14.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 12
+100.0%
2 95108
+13.7%
3 95107
+12.6%
4 4858
+20.8%
5+ 77
0.0%

Summary: The Lockport Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
8084+5.0%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

46 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lockport Township, you could pay more than the asking price. 54.8% of homes here sold above asking price last month.

Summary: A total of 84 homes were sold or pending in Lockport Township in May 2024, up by 5.0% month-over-month. Of the 84 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% 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

May 2023May 2024CHANGE
19 Days14 Days-25.4%

Summary: Homes in Lockport Township had an average of 14 days on market in May 2024, down by 25.4% compared to last year.

Breakdown of Home Sale Times

72 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 May 2024, 84 homes were sold in Lockport Township; 86% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 1% 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 19 Days Ago

Newest Listings in Lockport Township, IL

Nearby Markets to Lockport Township, IL

What housing markets are near Lockport Township, IL?