Is New Lenox Township, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, New Lenox Township has remained a Seller's Market.
Housing Prices in New Lenox Township, IL
How much do homes in New Lenox Township, IL cost?
Median Sold Price
$395,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Lenox Township was $395,000 in May 2024, up 9.4% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $220.5K | $250K | +13.4% |
3 Bedrooms | $320K | $355.1K | +11.0% |
4 Bedrooms | $435.9K | $467.5K | +7.2% |
5+ Bedrooms | $550K | $570K | +3.6% |
Summary: New Lenox Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
Manhattan Township | $321.5K | $364.9K | +13.5% |
New Lenox | $361.5K | $399.9K | +10.6% |
New Lenox Township | $361K | $395K | +9.4% |
Frankfort Township | $399.9K | $411.5K | +2.9% |
Mokena | $371K | $380.6K | +2.6% |
Housing Supply in New Lenox Township, IL
How many homes are available in New Lenox Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
159 | 184 | +15.7% |
Summary: The New Lenox Township real estate market had 184 homes for sale in May 2024, a 15.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 17 | 19 | +11.8% |
3 Bedrooms | 62 | 78 | +25.8% |
4 Bedrooms | 62 | 65 | +4.8% |
5+ Bedrooms | 18 | 21 | +16.7% |
Summary: The New Lenox Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 25.8%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
37 | 51 | +37.8% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 51 homes were sold or pending in New Lenox Township in May 2024, up by 37.8% month-over-month. Of the 51 sold homes, 37% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for New Lenox Township, IL
How long does it take to sell a home in New Lenox Township, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 11 Days | -57.2% |
Summary: Homes in New Lenox Township had an average of 11 days on market in May 2024, down by 57.2% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 51 homes were sold in New Lenox Township; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.