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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lockport is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Lockport, IL

How much do homes in Lockport, IL cost?

Median Sold Price

$317,625

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$19,625(+6.6%)

Key Takeaway

Homes in Lockport have sold for 6.6% more than they did a year ago.

Summary: The median home sold price in Lockport was $317,625 in October 2024, up 6.6% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $138.2K$160K
+15.7%
2 $270.5K$280K
+3.5%
3 $286K$313K
+9.4%
4 $430K$430K
0.0%
5+ $452.5K$492.5K
+8.8%

Summary: Lockport housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.7%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 9.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 8.8%.

Median Sold Price Compared To Nearby Cities

Lemont Township
+12.4%
Homer Township
+8.4%
Homer Glen
+7.7%
Lockport
+6.6%
Lockport Township
+5.4%

Housing Supply in Lockport, IL

How many homes are available in Lockport, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
134141+5.2%

Summary: The Lockport real estate market had 141 homes for sale in October 2024, a 5.2% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 21
-50.0%
2 4043
+7.5%
3 5658
+3.6%
4 3030
0.0%
5+ 69
+50.0%

Summary: The Lockport housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 3.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3834-10.5%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 34 homes were sold or pending in Lockport in October 2024, down by 10.5% month-over-month. Of the 34 sold homes, 41% were sold under asking, 9% were sold at asking, and 50% were sold over asking.

Days on Market for Lockport, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days15 Days-28.7%

Summary: Homes in Lockport had an average of 15 days on market in Oct 2024, down by 28.7% compared to last year.

Breakdown of Home Sale Times

27 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 34 homes were sold in Lockport; 79% of homes were sold within 30 days, 21% 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 16 Days Ago

Newest Listings in Lockport, IL

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