Is North Lawndale, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Lawndale is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, North Lawndale was a Seller's Market.

Key Takeaway

North Lawndale is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in North Lawndale, IL

How much do homes in North Lawndale, IL cost?

Median Sold Price

$290,000

$129/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$24,000(+9.0%)

Key Takeaway

Homes in North Lawndale have sold for 9% more than they did a year ago.

Summary: The median home sold price in North Lawndale was $290,000 in November 2024, up 9% from last year, and the median price per square foot was $129.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 -$275K
N/A
2 $176K$73K
-58.5%
3 $230.2K$225K
-2.3%
4 $173K$180K
+4.0%
5+ $319.5K$340.5K
+6.6%

Summary: North Lawndale 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 decreased by 58.5%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 6.6%.

Median Sold Price Compared To Nearby Neighborhoods

Homan Square
+15.6%
North Lawndale
+9.0%

Housing Supply in North Lawndale, IL

How many homes are available in North Lawndale, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
8499+17.9%

Summary: The North Lawndale real estate market had 99 homes for sale in November 2024, a 17.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 1015
+50.0%
4 1116
+45.5%
5+ 6267
+8.1%

Summary: The North Lawndale 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 50%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes increased by 8.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1114+27.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 14 homes were sold or pending in North Lawndale in November 2024, up by 27.3% month-over-month. Of the 14 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% were sold over asking.

Days on Market for North Lawndale, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
35 Days39 Days+10.6%

Summary: Homes in North Lawndale had an average of 39 days on market in Nov 2024, up by 10.6% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 14 homes were sold in North Lawndale; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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 3 Days Ago

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