Is New Lenox, 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 has remained a Seller's Market.
Housing Prices in New Lenox, IL
How much do homes in New Lenox, IL cost?
Median Sold Price
$399,925
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Lenox was $399,925 in May 2024, up 10.6% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $223K | $233.2K | +4.6% |
3 Bedrooms | $331K | $365K | +10.3% |
4 Bedrooms | $435K | $475K | +9.2% |
5+ Bedrooms | $465K | $550K | +18.3% |
Summary: New Lenox 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 4.6%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 18.3%.
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, IL
How many homes are available in New Lenox, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
115 | 135 | +17.4% |
Summary: The New Lenox real estate market had 135 homes for sale in May 2024, a 17.4% 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 | 13 | 15 | +15.4% |
3 Bedrooms | 47 | 60 | +27.7% |
4 Bedrooms | 46 | 50 | +8.7% |
5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The New Lenox 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 15.4%, 3 bedroom homes increased by 27.7%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 34 | +17.2% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in New Lenox in May 2024, up by 17.2% month-over-month. Of the 34 sold homes, 38% were sold under asking, 24% were sold at asking, and 38% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 12 Days | -8.9% |
Summary: Homes in New Lenox had an average of 12 days on market in May 2024, down by 8.9% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 34 homes were sold in New Lenox; 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.