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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lyons is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Lyons, IL

How much do homes in Lyons, IL cost?

Median Sold Price

$250,000

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$7,000(+2.9%)

Key Takeaway

Homes in Lyons have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in Lyons was $250,000 in May 2024, up 2.9% from last year, and the median price per square foot was $190.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $82.4K$113K
+37.1%
2 $224K$160K
-28.6%
3 $257K$265K
+3.1%
4 $246K$300K
+22.0%
5+ $287.5K$360K
+25.2%

Summary: Lyons housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.1%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 25.2%.

Median Sold Price Compared To Nearby Cities

Summit
+14.0%
Riverside Township
+9.8%
Lyons
+2.9%
Riverside
-1.3%

Housing Supply in Lyons, IL

How many homes are available in Lyons, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3130-3.2%

Summary: The Lyons real estate market had 30 homes for sale in May 2024, a 3.2% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 57
+40.0%
3 129
-25.0%
4 67
+16.7%
5+ 77
0.0%

Summary: The Lyons housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lyons, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in Lyons in May 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.

Days on Market for Lyons, IL

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

Average Sale Time

May 2023May 2024CHANGE
46 Days9 Days-79.4%

Summary: Homes in Lyons had an average of 9 days on market in May 2024, down by 79.4% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 6 homes were sold in Lyons; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 Lyons, IL

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