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 1 Day Ago

Newest Listings in Lynwood, IL

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