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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lombard is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Lombard, IL

How much do homes in Lombard, IL cost?

Median Sold Price

$325,166

$218/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$22,166(+7.3%)

Key Takeaway

Homes in Lombard have sold for 7.3% more than they did a year ago.

Summary: The median home sold price in Lombard was $325,166 in March 2024, up 7.3% from last year, and the median price per square foot was $218.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $120K$142.5K
+18.8%
2 $239.3K$275K
+14.9%
3 $325K$345.5K
+6.3%
4 $402.5K$426K
+5.8%
5+ $487.5K$436.2K
-10.5%

Summary: Lombard housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.8%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 10.5%.

Median Sold Price Compared To Nearby Cities

Lombard
+7.3%
Milton Township
+6.1%
York Township
+2.8%
Villa Park
+1.5%
Glen Ellyn
0.1%

Housing Supply in Lombard, IL

How many homes are available in Lombard, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
112133+18.8%

Summary: The Lombard real estate market had 133 homes for sale in March 2024, a 18.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1212
0.0%
2 3241
+28.1%
3 3747
+27.0%
4 2423
-4.2%
5+ 710
+42.9%

Summary: The Lombard 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 increased by 28.1%, 3 bedroom homes increased by 27%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
4338-11.6%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lombard, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in Lombard in March 2024, down by 11.6% month-over-month. Of the 38 sold homes, 42% were sold under asking, 24% were sold at asking, and 34% were sold over asking.

Days on Market for Lombard, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
21 Days19 Days-9.6%

Summary: Homes in Lombard had an average of 19 days on market in Mar 2024, down by 9.6% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 38 homes were sold in Lombard; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% 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 Lombard, IL

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