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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lynwood is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Lynwood was a Seller's Market.

Key Takeaway

Lynwood is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Lynwood, IL

How much do homes in Lynwood, IL cost?

Median Sold Price

$286,450

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$12,550(-4.2%)

Key Takeaway

Homes in Lynwood have sold for 4.2% less than they did a year ago.

Summary: The median home sold price in Lynwood was $286,450 in September 2024, down 4.2% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $162.5K-
N/A
2 $95.5K$120K
+25.7%
3 $215K$242.5K
+12.8%
4 $455K$402.5K
-11.5%
5+ $474.5K$410K
-13.6%

Summary: Lynwood housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes decreased by 13.6%.

Median Sold Price Compared To Nearby Cities

Glenwood
+8.5%
Bloom Township
+6.9%
Lynwood
-4.2%

Housing Supply in Lynwood, IL

How many homes are available in Lynwood, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
3738+2.7%

Summary: The Lynwood real estate market had 38 homes for sale in September 2024, a 2.7% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 22
0.0%
3 1414
0.0%
4 1818
0.0%
5+ 34
+33.3%

Summary: The Lynwood housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
84-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lynwood, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Lynwood in September 2024, down by 50.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% 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

Sep 2023Sep 2024CHANGE
19 Days18 Days-4.5%

Summary: Homes in Lynwood had an average of 18 days on market in Sep 2024, down by 4.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 4 homes were sold in Lynwood; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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 Sep 1, 2024

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