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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Schaumburg is a seller's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Schaumburg, IL

How much do homes in Schaumburg, IL cost?

Median Sold Price

$308,580

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$15,172(+5.2%)

Key Takeaway

Homes in Schaumburg have sold for 5.2% more than they did a year ago.

Summary: The median home sold price in Schaumburg was $308,580 in December 2024, up 5.2% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $151.5K$171K
+12.9%
2 $241.7K$262.5K
+8.6%
3 $369.3K$388.6K
+5.2%
4 $465K$520K
+11.8%
5+ $510K$625K
+22.5%

Summary: Schaumburg housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 22.5%.

Median Sold Price Compared To Nearby Cities

Roselle
+11.6%
Schaumburg Township
+8.5%
Rolling Meadows
+7.0%
Hoffman Estates
+6.2%
Schaumburg
+5.2%

Housing Supply in Schaumburg, IL

How many homes are available in Schaumburg, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
221199-10.0%

Summary: The Schaumburg real estate market had 199 homes for sale in December 2024, a 10.0% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 1210
-16.7%
2 9888
-10.2%
3 6763
-6.0%
4 3531
-11.4%
5+ 97
-22.2%

Summary: The Schaumburg housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 10.2%, 3 bedroom homes decreased by 6%, 4 bedroom homes decreased by 11.4%, and 5+ bedroom homes decreased by 22.2%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
6860-11.8%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

19 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Schaumburg, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 60 homes were sold or pending in Schaumburg in December 2024, down by 11.8% month-over-month. Of the 60 sold homes, 50% were sold under asking, 18% were sold at asking, and 32% were sold over asking.

Days on Market for Schaumburg, IL

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

Average Sale Time

Dec 2023Dec 2024CHANGE
13 Days21 Days+64.3%

Summary: Homes in Schaumburg had an average of 21 days on market in Dec 2024, up by 64.3% compared to last year.

Breakdown of Home Sale Times

46 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During December 2024, 60 homes were sold in Schaumburg; 77% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 2% 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 4 Days Ago

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