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 May 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

$292,500

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$27,600(+10.4%)

Key Takeaway

Homes in Lynwood have sold for 10.4% more than they did a year ago.

Summary: The median home sold price in Lynwood was $292,500 in May 2024, up 10.4% from last year, and the median price per square foot was $155.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $162.5K-
N/A
2 $95K$110K
+15.8%
3 $224.9K$240K
+6.7%
4 $442.8K$414.1K
-6.5%
5+ $460K$488.9K
+6.3%

Summary: Lynwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes increased by 6.3%.

Median Sold Price Compared To Nearby Cities

Glenwood
+11.1%
Lynwood
+10.4%
Bloom Township
+3.9%

Housing Supply in Lynwood, IL

How many homes are available in Lynwood, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4032-20.0%

Summary: The Lynwood real estate market had 32 homes for sale in May 2024, a 20.0% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 2316
-30.4%
4 1513
-13.3%
5+ 22
0.0%

Summary: The Lynwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 30.4%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
1311-15.4%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lynwood, you could pay more than the asking price. 72.7% of homes here sold above asking price last month.

Summary: A total of 11 homes were sold or pending in Lynwood in May 2024, down by 15.4% month-over-month. Of the 11 sold homes, 9% were sold under asking, 18% were sold at asking, and 73% 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

May 2023May 2024CHANGE
52 Days36 Days-29.9%

Summary: Homes in Lynwood had an average of 36 days on market in May 2024, down by 29.9% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 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 May 2024, 11 homes were sold in Lynwood; 55% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 18% 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 19 Days Ago

Newest Listings in Lynwood, IL

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