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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Skokie is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Skokie was a Seller's Market.

Key Takeaway

Skokie is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Skokie, IL

How much do homes in Skokie, IL cost?

Median Sold Price

$405,000

$242/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$30,000(+8.0%)

Key Takeaway

Homes in Skokie have sold for 8% more than they did a year ago.

Summary: The median home sold price in Skokie was $405,000 in November 2024, up 8% from last year, and the median price per square foot was $242.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $157.5K$152.5K
-3.2%
2 $275K$305K
+10.9%
3 $411.2K$420K
+2.1%
4 $549K$550K
0.2%
5+ $574.7K$705K
+22.7%

Summary: Skokie housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 22.7%.

Median Sold Price Compared To Nearby Cities

Evanston Township
+9.4%
Morton Grove
+9.1%
Skokie
+8.0%
Niles Township
+6.6%
Lincolnwood
-6.3%

Housing Supply in Skokie, IL

How many homes are available in Skokie, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
162169+4.3%

Summary: The Skokie real estate market had 169 homes for sale in November 2024, a 4.3% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 117
-36.4%
2 5155
+7.8%
3 6163
+3.3%
4 2730
+11.1%
5+ 1214
+16.7%

Summary: The Skokie housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 36.4%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4528-37.8%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Skokie, you may be able to get a good deal. 46.4% of homes here sold below asking price last month.

Summary: A total of 28 homes were sold or pending in Skokie in November 2024, down by 37.8% month-over-month. Of the 28 sold homes, 46% were sold under asking, 18% were sold at asking, and 36% were sold over asking.

Days on Market for Skokie, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
24 Days20 Days-19.6%

Summary: Homes in Skokie had an average of 20 days on market in Nov 2024, down by 19.6% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 28 homes were sold in Skokie; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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 29 Days Ago

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