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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lockport is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

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

+$25,000(+8.8%)

Key Takeaway

Homes in Lockport have sold for 8.8% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 -$138.2K
N/A
2 $261K$276K
+5.7%
3 $275K$301K
+9.5%
4 $388K$470.9K
+21.4%
5+ $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
+12.2%
Homer Glen
+9.3%
Homer Township
+9.1%
Lockport
+8.8%
Lemont Township
+4.7%

Housing Supply in Lockport, IL

How many homes are available in Lockport, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
126160+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

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 4556
+24.4%
3 4260
+42.9%
4 2937
+27.6%
5+ 96
-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 2024May 2024CHANGE
3138+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lockport, you could pay more than the asking price. 68.4% of homes here sold above asking price last month.

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 2023May 2024CHANGE
17 Days13 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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 Lockport, IL

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