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Featured local agent — Lakewood, IL
Sarah Mitchell
Compass Real Estate · Lakewood, IL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lakewood, IL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$1.17Mmedian sale price
How is the Lakewood, IL housing market right now?
The median home sale price in Lakewood, IL is $1.17M, up 67.2% year-over-year. Homes sell in an average of 55 days with 12 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Lakewood a buyer's or seller's market?
Lakewood, IL is currently a balanced market, based on 3.0 months of supply and homes selling in about 55 days. How we determine this →
Homes sold
4
Last 12 weeks
Days on market
55
Average pace
Active listings
12
3.0 months supply
Sale-to-list
99.3%
Below asking
What does the Lakewood housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $1.17M |
| Median list price | $700,000 |
| Year-over-year price change | +67.2% |
| Average days on market | 55 days |
| Active inventory | 12 listings |
| Months of supply | 3.0 months |
| Sale-to-list price ratio | 99.3% |
| Median price per sq ft | $140/sq ft |
| Homes sold (latest month) | 4 |
| New listings (latest month) | 8 |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Lakewood by property type?
How the Lakewood, IL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $1.17M | $140/sq ft | 4 | 55 days |
| Condo / Co-op | $271,000 | $165/sq ft | 2 | 239 days |
| Townhouse | $330,000 | $201/sq ft | 4 | 136 days |
Source: Redfin · Updated monthly
The Lakewood housing market is currently classified as a balanced market with a median sale price of $1.17M. Prices have risen 67.2% compared to last year, with homes spending an average of 55 days on market, indicating 3.0 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Market trends
Homes for sale in Lakewood
There are currently 12 homes listed for sale in Lakewood, Illinois. The median listing price is $700K.
Active listings
12
Homes on market
Median list price
$700K
Avg. days on market
55
Days until sale
New this week
8
Newly listed
Who lives in Lakewood?
Population
18
Owner-occupied
100.0%
College grads
50.0%
Source: U.S. Census Bureau ACS
What are homes worth in Lakewood?
Zillow home value
$200,740
Source: Zillow Research
What is it like to live in Lakewood?
Lakewood is a community of approximately 0K residents with a diverse population. 50.0% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 100.0%, reflecting strong community stability and long-term resident commitment.Overall, Lakewood offers a distinctive character that appeals to different lifestyle preferences.
Which cities are near Lakewood, IL?
Want a head-to-head view? Compare Lakewood side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Lakewood?
The median home sale price in Lakewood is $1.17M, up 67.2% from last year.
How long do homes stay on market in Lakewood?
Homes typically spend 55 days on market before going under contract.
Is Lakewood a buyer's or seller's market?
With 3.0 months of supply, Lakewood is currently a balanced market.
What is the Zillow home value estimate for Lakewood?
The Zillow Home Value Index (ZHVI) for Lakewood is $200,740, representing the typical home value in the area.
What is the median condo price in Lakewood?
The median condo/co-op sale price in Lakewood, IL is $271,000, compared to $1.17M for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Lakewood?
The median single-family home price in Lakewood, IL is $1.17M (about $140 per square foot).
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