Is Lemont, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lemont is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Lemont has remained a Seller's Market.

Key Takeaway

Lemont is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lemont, IL

How much do homes in Lemont, IL cost?

Median Sold Price

$496,486

$217/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$46,986(+10.5%)

Key Takeaway

Homes in Lemont have sold for 10.5% more than they did a year ago.

Summary: The median home sold price in Lemont was $496,486 in May 2024, up 10.5% from last year, and the median price per square foot was $217.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $217K$224.5K
+3.5%
2 $360K$355K
-1.4%
3 $395K$433.7K
+9.8%
4 $600.4K$650K
+8.3%
5+ $631K$758.2K
+20.2%

Summary: Lemont housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 20.2%.

Median Sold Price Compared To Nearby Cities

Darien
+16.9%
Lemont
+10.5%
Downers Grove Township
+7.4%
Lemont Township
+4.7%
Woodridge
+1.6%

Housing Supply in Lemont, IL

How many homes are available in Lemont, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
8299+20.7%

Summary: The Lemont real estate market had 99 homes for sale in May 2024, a 20.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 1211
-8.3%
3 2434
+41.7%
4 3239
+21.9%
5+ 1213
+8.3%

Summary: The Lemont 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 8.3%, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Apr 2024May 2024CHANGE
20200.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lemont, you may be able to get a good deal. 45% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Lemont in May 2024, the same as the previous month. Of the 20 sold homes, 45% were sold under asking, 35% were sold at asking, and 20% were sold over asking.

Days on Market for Lemont, IL

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

Average Sale Time

May 2023May 2024CHANGE
23 Days13 Days-42.6%

Summary: Homes in Lemont had an average of 13 days on market in May 2024, down by 42.6% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 20 homes were sold in Lemont; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in Lemont, IL

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