Is New Lenox, 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, New Lenox has remained a Seller's Market.
Housing Prices in New Lenox, IL
How much do homes in New Lenox, IL cost?
Median Sold Price
$395,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in New Lenox was $395,000 in March 2024, up 9.7% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $220K | $230K | +4.5% |
3 Bedrooms | $320.5K | $375K | +17.0% |
4 Bedrooms | $435K | $460K | +5.7% |
5+ Bedrooms | $432.5K | $560K | +29.5% |
Summary: New Lenox 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 4.5%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 29.5%.
Median Sold Price Compared To Nearby Cities
Manhattan Township | $315K | $370.5K | +17.6% |
Mokena | $336K | $389K | +15.8% |
New Lenox Township | $355.5K | $395K | +11.1% |
New Lenox | $360K | $395K | +9.7% |
Frankfort Township | $399.7K | $410K | +2.6% |
Housing Supply in New Lenox, IL
How many homes are available in New Lenox, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
97 | 108 | +11.3% |
Summary: The New Lenox real estate market had 108 homes for sale in March 2024, a 11.3% 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 | 13 | 11 | -15.4% |
3 Bedrooms | 31 | 41 | +32.3% |
4 Bedrooms | 43 | 43 | 0.0% |
5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The New Lenox 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 15.4%, 3 bedroom homes increased by 32.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 23 | -4.2% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in New Lenox in March 2024, down by 4.2% month-over-month. Of the 23 sold homes, 43% were sold under asking, 22% were sold at asking, and 35% were sold over asking.
Days on Market for New Lenox, IL
How long does it take to sell a home in New Lenox, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 35 Days | -17.1% |
Summary: Homes in New Lenox had an average of 35 days on market in Mar 2024, down by 17.1% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 23 homes were sold in New Lenox; 57% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.