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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Schaumburg Township is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Schaumburg Township, IL

How much do homes in Schaumburg Township, IL cost?

Median Sold Price

$317,428

$225/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$23,084(+7.8%)

Key Takeaway

Homes in Schaumburg Township have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in Schaumburg Township was $317,428 in November 2024, up 7.8% from last year, and the median price per square foot was $225.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $138K$161K
+16.7%
2 $232.6K$257.4K
+10.7%
3 $340K$366.7K
+7.9%
4 $419.9K$450K
+7.1%
5+ $460K$494.5K
+7.5%

Summary: Schaumburg Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 10.7%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 7.5%.

Median Sold Price Compared To Nearby Cities

Roselle
+12.3%
Hanover Park
+7.9%
Schaumburg Township
+7.8%
Hoffman Estates
+6.3%
Schaumburg
+5.4%

Housing Supply in Schaumburg Township, IL

How many homes are available in Schaumburg Township, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
380370-2.6%

Summary: The Schaumburg Township real estate market had 370 homes for sale in November 2024, a 2.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 2120
-4.8%
2 124130
+4.8%
3 148132
-10.8%
4 7472
-2.7%
5+ 1316
+23.1%

Summary: The Schaumburg Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 4.8%, 2 bedroom homes increased by 4.8%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 23.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
116108-6.9%

Asking Price vs. Sold Price

46 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

40 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Schaumburg Township, you may be able to get a good deal. 42.6% of homes here sold below asking price last month.

Summary: A total of 108 homes were sold or pending in Schaumburg Township in November 2024, down by 6.9% month-over-month. Of the 108 sold homes, 43% were sold under asking, 20% were sold at asking, and 37% were sold over asking.

Days on Market for Schaumburg Township, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
13 Days16 Days+18.4%

Summary: Homes in Schaumburg Township had an average of 16 days on market in Nov 2024, up by 18.4% compared to last year.

Breakdown of Home Sale Times

93 Homes Were Sold
Under 30 Days

14 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 Township are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 108 homes were sold in Schaumburg Township; 86% 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 Schaumburg Township, IL

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