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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lombard is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Lombard, IL

How much do homes in Lombard, IL cost?

Median Sold Price

$346,625

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$27,625(+8.7%)

Key Takeaway

Homes in Lombard have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in Lombard was $346,625 in October 2024, up 8.7% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $135K$148K
+9.6%
2 $254.9K$285K
+11.8%
3 $333.2K$365K
+9.5%
4 $420K$430K
+2.4%
5+ $427.9K$511K
+19.4%

Summary: Lombard housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.6%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 19.4%.

Median Sold Price Compared To Nearby Cities

Villa Park
+14.0%
Lombard
+8.7%
York Township
+8.2%
Milton Township
+7.2%
Glen Ellyn
+6.8%

Housing Supply in Lombard, IL

How many homes are available in Lombard, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
164192+17.1%

Summary: The Lombard real estate market had 192 homes for sale in October 2024, a 17.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 88
0.0%
2 4459
+34.1%
3 6372
+14.3%
4 4143
+4.9%
5+ 810
+25.0%

Summary: The Lombard 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 34.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4853+10.4%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lombard, you may be able to get a good deal. 39.6% of homes here sold below asking price last month.

Summary: A total of 53 homes were sold or pending in Lombard in October 2024, up by 10.4% month-over-month. Of the 53 sold homes, 40% were sold under asking, 25% were sold at asking, and 36% were sold over asking.

Days on Market for Lombard, IL

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

Average Sale Time

Oct 2023Oct 2024CHANGE
12 Days14 Days+13.7%

Summary: Homes in Lombard had an average of 14 days on market in Oct 2024, up by 13.7% compared to last year.

Breakdown of Home Sale Times

46 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 Lombard are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 53 homes were sold in Lombard; 87% of homes were sold within 30 days, 13% 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 Lombard, IL

Nearby Markets to Lombard, IL

What housing markets are near Lombard, IL?