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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lynwood is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

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

+$39,000(+15.0%)

Key Takeaway

Homes in Lynwood have sold for 15% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 -$162.5K
N/A
2 $95K$100K
+5.3%
3 $235K$240K
+2.1%
4 $445K$407K
-8.5%
5+ $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
+15.0%
Glenwood
+13.0%
Bloom Township
+5.4%

Housing Supply in Lynwood, IL

How many homes are available in Lynwood, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4248+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

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 2025
+25.0%
4 1315
+15.4%
5+ 77
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 2024Mar 2024CHANGE
69+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lynwood, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

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 2023Mar 2024CHANGE
82 Days111 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

Breakdown of Home Sale Times

Key Takeaway

Most homes in Lynwood are taking a long time to sell, it's a good idea to negotiate on homes here.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

Newest Listings in Lynwood, IL

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