Is Schiller Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Schiller Park is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Schiller Park, IL

How much do homes in Schiller Park, IL cost?

Median Sold Price

$245,000

$189/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$10,000(-3.9%)

Key Takeaway

Homes in Schiller Park have sold for 3.9% less than they did a year ago.

Summary: The median home sold price in Schiller Park was $245,000 in May 2024, down 3.9% from last year, and the median price per square foot was $189.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $107K$115K
+7.5%
2 $154.5K$160K
+3.6%
3 $312K$320K
+2.6%
4 $341.2K$344.5K
+1.0%
5+ $451.5K$379K
-16.1%

Summary: Schiller Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 16.1%.

Median Sold Price Compared To Nearby Cities

Franklin Park
+12.7%
Leyden Township
+8.9%
Chicago
+3.1%
Schiller Park
-3.9%

Housing Supply in Schiller Park, IL

How many homes are available in Schiller Park, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3134+9.7%

Summary: The Schiller Park real estate market had 34 homes for sale in May 2024, a 9.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 72
-71.4%
2 88
0.0%
3 916
+77.8%
4 34
+33.3%
5+ 44
0.0%

Summary: The Schiller Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 71.4%, 2 bedroom homes remained the same, 3 bedroom homes increased by 77.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
109-10.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Schiller Park, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Schiller Park in May 2024, down by 10.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 0% were sold at asking, and 44% were sold over asking.

Days on Market for Schiller Park, IL

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

Average Sale Time

May 2023May 2024CHANGE
6 Days24 Days+305.6%

Summary: Homes in Schiller Park had an average of 24 days on market in May 2024, up by 305.6% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 9 homes were sold in Schiller Park; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% 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

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