Is Lynwood, 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, Lynwood has remained a Seller's Market.
Housing Prices in Lynwood, IL
How much do homes in Lynwood, IL cost?
Median Sold Price
$299,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lynwood was $299,000 in March 2024, up 15% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $162.5K | N/A |
2 Bedrooms | $95K | $100K | +5.3% |
3 Bedrooms | $235K | $240K | +2.1% |
4 Bedrooms | $445K | $407K | -8.5% |
5+ Bedrooms | $435.5K | $490.7K | +12.7% |
Summary: Lynwood 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 increased by 5.3%, 3 bedroom homes increased by 2.1%, 4 bedroom homes decreased by 8.5%, and 5+ bedroom homes increased by 12.7%.
Median Sold Price Compared To Nearby Cities
Lynwood | $260K | $299K | +15.0% |
Glenwood | $172.5K | $195K | +13.0% |
Bloom Township | $184.9K | $194.9K | +5.4% |
Housing Supply in Lynwood, IL
How many homes are available in Lynwood, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
42 | 48 | +14.3% |
Summary: The Lynwood real estate market had 48 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 1 | -50.0% |
3 Bedrooms | 20 | 25 | +25.0% |
4 Bedrooms | 13 | 15 | +15.4% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Lynwood 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 decreased by 50%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 9 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Lynwood in March 2024, up by 50.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for Lynwood, IL
How long does it take to sell a home in Lynwood, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
82 Days | 111 Days | +35.0% |
Summary: Homes in Lynwood had an average of 111 days on market in Mar 2024, up by 35% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in Lynwood; 22% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.