Is New Lenox Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Lenox Township is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, New Lenox Township has remained a Seller's Market.

Key Takeaway

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

How much do homes in New Lenox Township, IL cost?

Median Sold Price

$355,000

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$27,516(+8.4%)

Key Takeaway

Homes in New Lenox Township have sold for 8.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $328K$116.5K
-64.5%
2 $189.9K$210K
+10.6%
3 $294.9K$310.6K
+5.3%
4 $398.7K$428K
+7.3%
5+ $489K$540K
+10.4%

Median Sold Price Compared To Nearby Cities

Manhattan Township
+13.6%
Frankfort Township
+11.1%
New Lenox
+9.2%
New Lenox Township
+8.4%
Mokena
+3.1%

How many homes are available in New Lenox Township, IL?

Number of Homes For Sale

Sep 2022Oct 2022%
193192-0.5%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 00
0.0%
2 3428
-17.6%
3 6974
+7.2%
4 7173
+2.8%
5+ 1917
-10.5%

Number of Homes Sold

Sep 2022Oct 2022%
5045-10.0%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Lenox Township, you may be able to get a good deal. 57.8% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
24 Days29 Days+19.3%

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About New Lenox Township, IL

New Lenox Township, IL has 192 homes on the market. In October 2022 in New Lenox Township, IL there were 0.5% less homes for sale than in September 2022. While the average time on the market in October 2022 was 29 days, the median list price was $355,000. Real estate listing prices changed between September 2022 and October 2022: the cost of 1 bedroom properties went down by 64.5%, prices of 2 bedrooms properties went up by 10.6%, prices of 3 bedrooms properties went up by 5.3%, the cost of 4 bedrooms properties went up by 7.3%, prices of 5 bedrooms properties went up by 10.4%. This housing market inventory have changed: the quantity of 1 bedroom homes have not changed, volume of 2 bedrooms homes went down by 17.6%, the quantity of 3 bedrooms homes went up by 7.2%, the quantity of 4 bedrooms homes went up by 2.8%, volume of 5 bedrooms homes went down by 10.5%. Over 13 listings were sold over their listed price in October 2022 in New Lenox Township, IL. In the same period over 26 listings were sold below the listed price and 6 listings were sold for the listed price.

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