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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Skokie is a seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Skokie, IL

How much do homes in Skokie, IL cost?

Median Sold Price

$400,800

$240/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$30,133(+8.1%)

Key Takeaway

Homes in Skokie have sold for 8.1% more than they did a year ago.

Summary: The median home sold price in Skokie was $400,800 in October 2024, up 8.1% from last year, and the median price per square foot was $240.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $167.5K$153.7K
-8.2%
2 $275K$305K
+10.9%
3 $409K$415.5K
+1.6%
4 $549K$550K
0.2%
5+ $607.9K$675K
+11.0%

Summary: Skokie housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.2%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 11%.

Median Sold Price Compared To Nearby Cities

Evanston Township
+11.6%
Skokie
+8.1%
Morton Grove
+7.8%
Niles Township
+6.7%
Lincolnwood
-2.5%

Housing Supply in Skokie, IL

How many homes are available in Skokie, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
167183+9.6%

Summary: The Skokie real estate market had 183 homes for sale in October 2024, a 9.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1111
0.0%
2 5658
+3.6%
3 6272
+16.1%
4 2431
+29.2%
5+ 1411
-21.4%

Summary: The Skokie housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes decreased by 21.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4941-16.3%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

13 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. 41.5% of homes here sold below asking price last month.

Summary: A total of 41 homes were sold or pending in Skokie in October 2024, down by 16.3% month-over-month. Of the 41 sold homes, 41% were sold under asking, 27% were sold at asking, and 32% 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

Oct 2023Oct 2024CHANGE
22 Days21 Days-6.3%

Summary: Homes in Skokie had an average of 21 days on market in Oct 2024, down by 6.3% compared to last year.

Breakdown of Home Sale Times

30 Homes Were Sold
Under 30 Days

11 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 October 2024, 41 homes were sold in Skokie; 73% of homes were sold within 30 days, 27% 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 20 Days Ago

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