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 April 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

$306,727

$221/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$41,777(+15.8%)

Key Takeaway

Homes in Schaumburg have sold for 15.8% more than they did a year ago.

Summary: The median home sold price in Schaumburg was $306,727 in April 2024, up 15.8% from last year, and the median price per square foot was $221.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $130.1K$155K
+19.1%
2 $225K$250K
+11.1%
3 $332.6K$378.5K
+13.8%
4 $445K$476K
+7.0%
5+ $590K$525K
-11.0%

Summary: Schaumburg housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.1%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 11%.

Median Sold Price Compared To Nearby Cities

Schaumburg
+15.8%
Schaumburg Township
+11.6%
Rolling Meadows
+10.6%
Hoffman Estates
+9.2%
Roselle
+7.5%

Housing Supply in Schaumburg, IL

How many homes are available in Schaumburg, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
209226+8.1%

Summary: The Schaumburg real estate market had 226 homes for sale in April 2024, a 8.1% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1212
0.0%
2 8086
+7.5%
3 7780
+3.9%
4 2935
+20.7%
5+ 1113
+18.2%

Summary: The Schaumburg housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 18.2%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
7078+11.4%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

49 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Schaumburg, you could pay more than the asking price. 62.8% of homes here sold above asking price last month.

Summary: A total of 78 homes were sold or pending in Schaumburg in April 2024, up by 11.4% month-over-month. Of the 78 sold homes, 26% were sold under asking, 12% were sold at asking, and 63% 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

Apr 2023Apr 2024CHANGE
17 Days13 Days-21.7%

Summary: Homes in Schaumburg had an average of 13 days on market in Apr 2024, down by 21.7% compared to last year.

Breakdown of Home Sale Times

66 Homes Were Sold
Under 30 Days

11 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 April 2024, 78 homes were sold in Schaumburg; 85% of homes were sold within 30 days, 14% 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 11 Days Ago

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