Is Lombard, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lombard has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $120K | $142.5K | +18.8% |
2 Bedrooms | $239.3K | $275K | +14.9% |
3 Bedrooms | $325K | $345.5K | +6.3% |
4 Bedrooms | $402.5K | $426K | +5.8% |
5+ Bedrooms | $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 | $303K | $325.1K | +7.3% |
Milton Township | $400.4K | $425K | +6.1% |
York Township | $364.8K | $374.9K | +2.8% |
Villa Park | $305K | $309.5K | +1.5% |
Glen Ellyn | $448.7K | $449.1K | 0.1% |
Housing Supply in Lombard, IL
How many homes are available in Lombard, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
112 | 133 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 12 | 0.0% |
2 Bedrooms | 32 | 41 | +28.1% |
3 Bedrooms | 37 | 47 | +27.0% |
4 Bedrooms | 24 | 23 | -4.2% |
5+ Bedrooms | 7 | 10 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
43 | 38 | -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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
21 Days | 19 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
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.