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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lockport Township is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Lockport Township, IL

How much do homes in Lockport Township, IL cost?

Median Sold Price

$294,928

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,135(+5.4%)

Key Takeaway

Homes in Lockport Township have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Lockport Township was $294,928 in October 2024, up 5.4% from last year, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $164K$191K
+16.5%
2 $259.4K$270K
+4.1%
3 $280K$300K
+7.1%
4 $360K$381.5K
+6.0%
5+ $451.2K$412.5K
-8.6%

Summary: Lockport Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 8.6%.

Median Sold Price Compared To Nearby Cities

Crest Hill
+10.7%
Joliet Township
+10.6%
Lockport
+6.6%
Lockport Township
+5.4%
Romeoville
+4.0%

Housing Supply in Lockport Township, IL

How many homes are available in Lockport Township, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
278307+10.4%

Summary: The Lockport Township real estate market had 307 homes for sale in October 2024, a 10.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 21
-50.0%
2 108127
+17.6%
3 117120
+2.6%
4 4249
+16.7%
5+ 910
+11.1%

Summary: The Lockport Township 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 17.6%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
8385+2.4%

Asking Price vs. Sold Price

38 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

36 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lockport Township, you may be able to get a good deal. 44.7% of homes here sold below asking price last month.

Summary: A total of 85 homes were sold or pending in Lockport Township in October 2024, up by 2.4% month-over-month. Of the 85 sold homes, 45% were sold under asking, 13% were sold at asking, and 42% were sold over asking.

Days on Market for Lockport Township, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days16 Days-22.4%

Summary: Homes in Lockport Township had an average of 16 days on market in Oct 2024, down by 22.4% compared to last year.

Breakdown of Home Sale Times

67 Homes Were Sold
Under 30 Days

18 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 Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 85 homes were sold in Lockport Township; 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 Township, IL

Nearby Markets to Lockport Township, IL

What housing markets are near Lockport Township, IL?