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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lemont is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Lemont, IL

How much do homes in Lemont, IL cost?

Median Sold Price

$545,053

$225/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$68,053(+14.3%)

Key Takeaway

Homes in Lemont have sold for 14.3% more than they did a year ago.

Summary: The median home sold price in Lemont was $545,053 in October 2024, up 14.3% from last year, and the median price per square foot was $225.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $222.2K$219K
-1.5%
2 $388.3K$365K
-6.0%
3 $412.5K$436.7K
+5.9%
4 $640K$662K
+3.4%
5+ $735K$785K
+6.8%

Summary: Lemont housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.5%, 2 bedroom homes decreased by 6%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 6.8%.

Median Sold Price Compared To Nearby Cities

Darien
+18.0%
Downers Grove Township
+16.8%
Lemont
+14.3%
Lemont Township
+12.4%
Woodridge
+7.1%

Housing Supply in Lemont, IL

How many homes are available in Lemont, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
108119+10.2%

Summary: The Lemont real estate market had 119 homes for sale in October 2024, a 10.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 2021
+5.0%
3 3734
-8.1%
4 3850
+31.6%
5+ 1213
+8.3%

Summary: The Lemont housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2627+3.8%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lemont, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in Lemont in October 2024, up by 3.8% month-over-month. Of the 27 sold homes, 48% were sold under asking, 15% were sold at asking, and 37% were sold over asking.

Days on Market for Lemont, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
36 Days39 Days+9.9%

Summary: Homes in Lemont had an average of 39 days on market in Oct 2024, up by 9.9% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 27 homes were sold in Lemont; 67% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% 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 Lemont, IL

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