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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lockport is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Lockport, IL

How much do homes in Lockport, IL cost?

Median Sold Price

$310,000

$184/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$25,000(+8.8%)

Key Takeaway

Homes in Lockport have sold for 8.8% more than they did a year ago.

Summary: The median home sold price in Lockport was $310,000 in April 2024, up 8.8% from last year, and the median price per square foot was $184.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 -$138.2K
N/A
2 $260K$280K
+7.7%
3 $275.2K$300K
+9.0%
4 $391.5K$475K
+21.3%
5+ $407.5K$495K
+21.5%

Summary: Lockport housing prices by bedroom type for April 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 9%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes increased by 21.5%.

Median Sold Price Compared To Nearby Cities

Lockport Township
+13.0%
Homer Glen
+10.3%
Lockport
+8.8%
Homer Township
+7.5%
Lemont Township
+2.4%

Housing Supply in Lockport, IL

How many homes are available in Lockport, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
101133+31.7%

Summary: The Lockport real estate market had 133 homes for sale in April 2024, a 31.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 3245
+40.6%
3 4046
+15.0%
4 1931
+63.2%
5+ 910
+11.1%

Summary: The Lockport housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40.6%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 63.2%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
2631+19.2%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

18 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lockport, you could pay more than the asking price. 58.1% of homes here sold above asking price last month.

Summary: A total of 31 homes were sold or pending in Lockport in April 2024, up by 19.2% month-over-month. Of the 31 sold homes, 32% were sold under asking, 10% were sold at asking, and 58% were sold over asking.

Days on Market for Lockport, IL

How long does it take to sell a home in Lockport, IL?

Average Sale Time

Apr 2023Apr 2024CHANGE
28 Days13 Days-52.1%

Summary: Homes in Lockport had an average of 13 days on market in Apr 2024, down by 52.1% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 31 homes were sold in Lockport; 87% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 3% 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 14 Days Ago

Newest Listings in Lockport, IL

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