Is Lakewood, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lakewood was a Seller's Market.
Housing Prices in Lakewood, IL
How much do homes in Lakewood, IL cost?
Median Sold Price
$528,500
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lakewood was $528,500 in May 2024, up 6.6% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $292.4K | $276K | -5.6% |
3 Bedrooms | $348.7K | $460.6K | +32.1% |
4 Bedrooms | $550.5K | $583.7K | +6.0% |
5+ Bedrooms | $630.4K | $625.2K | -0.8% |
Summary: Lakewood 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 decreased by 5.6%, 3 bedroom homes increased by 32.1%, 4 bedroom homes increased by 6%, and 5+ bedroom homes decreased by 0.8%.
Median Sold Price Compared To Nearby Cities
Crystal Lake | $290.9K | $350K | +20.3% |
Dorr Township | $279.9K | $307.2K | +9.8% |
Lake in the Hills | $300.7K | $325K | +8.1% |
Lakewood | $496K | $528.5K | +6.6% |
Grafton Township | $359.9K | $376.8K | +4.7% |
Housing Supply in Lakewood, IL
How many homes are available in Lakewood, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 26 | +18.2% |
Summary: The Lakewood real estate market had 26 homes for sale in May 2024, a 18.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 2 | -60.0% |
3 Bedrooms | 3 | 4 | +33.3% |
4 Bedrooms | 12 | 16 | +33.3% |
5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Lakewood 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 decreased by 60%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lakewood in May 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Lakewood, IL
How long does it take to sell a home in Lakewood, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
50 Days | 46 Days | -7.6% |
Summary: Homes in Lakewood had an average of 46 days on market in May 2024, down by 7.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Lakewood; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.