How Competitive is the New Lenox Housing Market?
New Lenox, a city in Chicago, IL, is a highly competitive housing market. About 55% of homes sold above list price in the 3 months ending June 2026 -- up 22 percentage points from a year ago.
The National Picture
The national sold-above rate sits at 24.6% with a 50-day median time on market. New Lenox blows past both benchmarks -- 55.8% selling above asking in just 41 days. For buyers coming from calmer markets, the pace here can feel relentless.
Overbidding Surges Despite Fewer Sales
The sold-above rate jumped 22 percentage points year over year, the sharpest swing in this Chicago metro comparison, even as homes sold dropped 20%. Fewer listings appear to be sparking more intense bidding among buyers who remain active. Nearby Mokena (37% sold above) saw the opposite trend, with overbidding falling 15 points, showing how competition can shift dramatically between adjacent suburbs in a single year.
Why is New Lenox Highly Competitive?
At 4.1 months of supply, the market tilts firmly toward sellers. Despite 17% of listings carrying price drops, the high sold-above rate shows correctly priced homes still attract bidding wars. Days on market shrank 6 days from last year, reflecting an accelerating pace.
Nearby Neighborhoods
| Neighborhood | Sold Above List | Sale-to-List | Days on Market | Off Mkt in 2 Wks |
|---|---|---|---|---|
| New Lenox | 55.8% | 101.4% | 41 days | 68.1% |
| Mokena, IL | 37.4% | 100.0% | 46 days | 59.3% |
| Frankfort, IL | 31.9% | 99.0% | 50 days | 44.7% |
| Joliet, IL | 43.9% | 100.1% | 51 days | 52.9% |
| Tinley Park, IL | 46.9% | 100.2% | 42 days | 61.4% |
| Bolingbrook, IL | 56.7% | 101.3% | 43 days | 64.6% |
Limited to neighborhoods with at least 10 home sales in the period.
All data comes from Redfin and represents a three-month rolling average ending June 2026. This article has been generated, in whole or in part, using generative artificial intelligence (AI) technology, with input from Redfin head of economics research Chen Zhao. While efforts have been made to ensure the accuracy and reliability of this information, you should independently verify all data, facts, and citations contained in this article before relying on it for any purpose. This information is not a substitute for advice from a real estate agent, financial advisor, or other licensed professional. Check the Redfin Data Center for additional in-depth housing market data.
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