Is New Lenox, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Lenox is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in New Lenox, IL

How much do homes in New Lenox, IL cost?

Median Sold Price

$415,000

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$30,100(+7.8%)

Key Takeaway

Homes in New Lenox have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in New Lenox was $415,000 in November 2024, up 7.8% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$162K
N/A
2 $231.2K$238.2K
+3.0%
3 $359.2K$370K
+3.0%
4 $437.5K$489.9K
+12.0%
5+ $516K$575K
+11.4%

Summary: New Lenox 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 3%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 11.4%.

Median Sold Price Compared To Nearby Cities

New Lenox
+7.8%
Frankfort Township
+7.4%
New Lenox Township
+5.1%
Manhattan Township
-0.9%
Mokena
-6.2%

Housing Supply in New Lenox, IL

How many homes are available in New Lenox, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
125127+1.6%

Summary: The New Lenox real estate market had 127 homes for sale in November 2024, a 1.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1718
+5.9%
3 5250
-3.8%
4 4853
+10.4%
5+ 86
-25.0%

Summary: The New Lenox 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 increased by 5.9%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
3032+6.7%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Lenox, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in New Lenox in November 2024, up by 6.7% month-over-month. Of the 32 sold homes, 50% were sold under asking, 19% were sold at asking, and 31% were sold over asking.

Days on Market for New Lenox, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
32 Days21 Days-34.7%

Summary: Homes in New Lenox had an average of 21 days on market in Nov 2024, down by 34.7% compared to last year.

Breakdown of Home Sale Times

25 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 32 homes were sold in New Lenox; 78% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 3% 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 22 Days Ago

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