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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lynwood is a seller's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Lynwood was a Neutral Market.

Key Takeaway

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

Housing Prices in Lynwood, IL

How much do homes in Lynwood, IL cost?

Median Sold Price

$288,000

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$19,450(-6.3%)

Key Takeaway

Homes in Lynwood have sold for 6.3% less than they did a year ago.

Summary: The median home sold price in Lynwood was $288,000 in November 2024, down 6.3% from last year, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $162.5K-
N/A
2 $95K$120K
+26.3%
3 $220K$245K
+11.4%
4 $440.3K$409.7K
-6.9%
5+ $482.4K$410K
-15.0%

Summary: Lynwood housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 11.4%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes decreased by 15%.

Median Sold Price Compared To Nearby Cities

Glenwood
+2.7%
Bloom Township
+2.4%
Lynwood
-6.3%

Housing Supply in Lynwood, IL

How many homes are available in Lynwood, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
3231-3.1%

Summary: The Lynwood real estate market had 31 homes for sale in November 2024, a 3.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1516
+6.7%
4 1211
-8.3%
5+ 43
-25.0%

Summary: The Lynwood housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
59+80.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lynwood, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in Lynwood in November 2024, up by 80.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.

Days on Market for Lynwood, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
29 Days22 Days-23.0%

Summary: Homes in Lynwood had an average of 22 days on market in Nov 2024, down by 23% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 9 homes were sold in Lynwood; 67% of homes were sold within 30 days, 33% 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 20 Days Ago

Newest Listings in Lynwood, IL

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