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 August 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

$399,925

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$24,175(+6.4%)

Key Takeaway

Homes in New Lenox Township have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in New Lenox Township was $399,925 in August 2024, up 6.4% from last year, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 -$162K
N/A
2 $230K$264K
+14.8%
3 $335K$363.2K
+8.4%
4 $436K$479.9K
+10.1%
5+ $549.8K$632.5K
+15.0%

Summary: New Lenox Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 15%.

Median Sold Price Compared To Nearby Cities

New Lenox Township
+6.4%
New Lenox
+6.3%
Frankfort Township
+6.1%
Manhattan Township
+3.2%
Mokena
-0.4%

Housing Supply in New Lenox Township, IL

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

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
160163+1.9%

Summary: The New Lenox Township real estate market had 163 homes for sale in August 2024, a 1.9% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 1816
-11.1%
3 6572
+10.8%
4 6263
+1.6%
5+ 1512
-20.0%

Summary: The New Lenox Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
5147-7.8%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

15 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Lenox Township, you may be able to get a good deal. 46.8% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in New Lenox Township in August 2024, down by 7.8% month-over-month. Of the 47 sold homes, 47% were sold under asking, 21% were sold at asking, and 32% 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

Aug 2023Aug 2024CHANGE
22 Days18 Days-20.1%

Summary: Homes in New Lenox Township had an average of 18 days on market in Aug 2024, down by 20.1% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 August 2024, 47 homes were sold in New Lenox Township; 83% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 2% 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 20 Days Ago

Newest Listings in New Lenox Township, IL

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What housing markets are near New Lenox Township, IL?