Is Niles Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Niles Township is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in Niles Township, IL

How much do homes in Niles Township, IL cost?

Median Sold Price

$395,000

$239/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$20,020(+5.3%)

Key Takeaway

Homes in Niles Township have sold for 5.3% more than they did a year ago.

Summary: The median home sold price in Niles Township was $395,000 in August 2024, up 5.3% from last year, and the median price per square foot was $239.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $157.4K$166K
+5.4%
2 $276K$300K
+8.7%
3 $390K$408.1K
+4.7%
4 $537K$559.5K
+4.2%
5+ $650K$735K
+13.1%

Summary: Niles Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.4%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 13.1%.

Median Sold Price Compared To Nearby Cities

Skokie
+7.8%
Morton Grove
+6.8%
Niles Township
+5.3%
Lincolnwood
+4.2%

Housing Supply in Niles Township, IL

How many homes are available in Niles Township, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
429445+3.7%

Summary: The Niles Township real estate market had 445 homes for sale in August 2024, a 3.7% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 2223
+4.5%
2 113117
+3.5%
3 184187
+1.6%
4 7279
+9.7%
5+ 3839
+2.6%

Summary: The Niles Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.5%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 2.6%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
146127-13.0%

Asking Price vs. Sold Price

47 Homes Were Sold
Under Asking

21 Homes Were Sold
At Asking

59 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Niles Township, you could pay more than the asking price. 46.5% of homes here sold above asking price last month.

Summary: A total of 127 homes were sold or pending in Niles Township in August 2024, down by 13.0% month-over-month. Of the 127 sold homes, 37% were sold under asking, 17% were sold at asking, and 46% were sold over asking.

Days on Market for Niles Township, IL

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

Average Sale Time

Aug 2023Aug 2024CHANGE
19 Days15 Days-18.9%

Summary: Homes in Niles Township had an average of 15 days on market in Aug 2024, down by 18.9% compared to last year.

Breakdown of Home Sale Times

110 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 127 homes were sold in Niles Township; 87% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 1% 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 20 Days Ago

Newest Listings in Niles Township, IL

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