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 March 2023

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.

Housing Prices in New Lenox Township, IL

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

Median Sold Price

$395,000

$179/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$39,500(+11.1%)

Key Takeaway

Homes in New Lenox Township have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in New Lenox Township was $395,000 in March 2024, up 11.1% from last year, and the median price per square foot was $179.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $220K$237K
+7.7%
3 $313.5K$352.9K
+12.6%
4 $436.2K$455.9K
+4.5%
5+ $565K$568.5K
+0.6%

Summary: New Lenox Township 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 7.7%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 0.6%.

Median Sold Price Compared To Nearby Cities

Manhattan Township
+17.6%
Mokena
+15.8%
New Lenox Township
+11.1%
New Lenox
+9.7%
Frankfort Township
+2.6%

Housing Supply in New Lenox Township, IL

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

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
123141+14.6%

Summary: The New Lenox Township real estate market had 141 homes for sale in March 2024, a 14.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1313
0.0%
3 4054
+35.0%
4 5453
-1.9%
5+ 1621
+31.3%

Summary: The New Lenox Township 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 remained the same, 3 bedroom homes increased by 35%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 31.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3031+3.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Lenox Township, you could pay more than the asking price. 38.7% of homes here sold above asking price last month.

Summary: A total of 31 homes were sold or pending in New Lenox Township in March 2024, up by 3.3% month-over-month. Of the 31 sold homes, 35% were sold under asking, 26% were sold at asking, and 39% were sold over asking.

Days on Market for New Lenox Township, IL

How long does it take to sell a home in New Lenox Township, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
41 Days32 Days-23.1%

Summary: Homes in New Lenox Township had an average of 32 days on market in Mar 2024, down by 23.1% compared to last year.

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

4 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.

Summary: During March 2024, 31 homes were sold in New Lenox Township; 65% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 13% 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 New Lenox Township, IL

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What housing markets are near New Lenox Township, IL?