Is Lynwood, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lynwood has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $162.5K | - | N/A |
2 Bedrooms | $95K | $110K | +15.8% |
3 Bedrooms | $224.9K | $240K | +6.7% |
4 Bedrooms | $442.8K | $414.1K | -6.5% |
5+ Bedrooms | $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 | $180K | $200K | +11.1% |
Lynwood | $264.9K | $292.5K | +10.4% |
Bloom Township | $188.4K | $195.8K | +3.9% |
Housing Supply in Lynwood, IL
How many homes are available in Lynwood, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
40 | 32 | -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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 23 | 16 | -30.4% |
4 Bedrooms | 15 | 13 | -13.3% |
5+ Bedrooms | 2 | 2 | 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 2024 | May 2024 | CHANGE |
---|---|---|
13 | 11 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
52 Days | 36 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
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.