Is Lockport, 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, Lockport has remained a Seller's Market.
Housing Prices in Lockport, IL
How much do homes in Lockport, IL cost?
Median Sold Price
$310,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lockport was $310,000 in May 2024, up 8.8% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $138.2K | N/A |
2 Bedrooms | $261K | $276K | +5.7% |
3 Bedrooms | $275K | $301K | +9.5% |
4 Bedrooms | $388K | $470.9K | +21.4% |
5+ Bedrooms | $420K | $525K | +25.0% |
Summary: Lockport 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 5.7%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 25%.
Median Sold Price Compared To Nearby Cities
Lockport Township | $260K | $291.6K | +12.2% |
Homer Glen | $429.9K | $470K | +9.3% |
Homer Township | $385K | $420K | +9.1% |
Lockport | $285K | $310K | +8.8% |
Lemont Township | $475K | $497.5K | +4.7% |
Housing Supply in Lockport, IL
How many homes are available in Lockport, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
126 | 160 | +27.0% |
Summary: The Lockport real estate market had 160 homes for sale in May 2024, a 27.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 45 | 56 | +24.4% |
3 Bedrooms | 42 | 60 | +42.9% |
4 Bedrooms | 29 | 37 | +27.6% |
5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The Lockport housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 24.4%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 27.6%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 38 | +22.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Lockport in May 2024, up by 22.6% month-over-month. Of the 38 sold homes, 16% were sold under asking, 16% were sold at asking, and 68% were sold over asking.
Days on Market for Lockport, IL
How long does it take to sell a home in Lockport, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 13 Days | -21.8% |
Summary: Homes in Lockport had an average of 13 days on market in May 2024, down by 21.8% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 38 homes were sold in Lockport; 87% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.