Is Skokie, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Skokie has remained a Seller's Market.
Housing Prices in Skokie, IL
How much do homes in Skokie, IL cost?
Median Sold Price
$389,999
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Skokie was $389,999 in May 2024, up 5.4% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $151.2K | -13.6% |
2 Bedrooms | $270K | $286K | +5.9% |
3 Bedrooms | $382.5K | $410K | +7.2% |
4 Bedrooms | $541.8K | $540K | -0.3% |
5+ Bedrooms | $585K | $665K | +13.7% |
Summary: Skokie housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.6%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 13.7%.
Median Sold Price Compared To Nearby Cities
Lincolnwood | $469.7K | $524.9K | +11.8% |
Evanston Township | $377.5K | $401.2K | +6.3% |
Morton Grove | $374.9K | $395.6K | +5.5% |
Skokie | $370K | $389.9K | +5.4% |
Niles Township | $370K | $389.3K | +5.2% |
Housing Supply in Skokie, IL
How many homes are available in Skokie, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
188 | 211 | +12.2% |
Summary: The Skokie real estate market had 211 homes for sale in May 2024, a 12.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 16 | 16 | 0.0% |
2 Bedrooms | 55 | 64 | +16.4% |
3 Bedrooms | 73 | 81 | +11.0% |
4 Bedrooms | 28 | 30 | +7.1% |
5+ Bedrooms | 16 | 20 | +25.0% |
Summary: The Skokie housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.4%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
49 | 70 | +42.9% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 70 homes were sold or pending in Skokie in May 2024, up by 42.9% month-over-month. Of the 70 sold homes, 47% were sold under asking, 19% were sold at asking, and 34% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 14 Days | -44.8% |
Summary: Homes in Skokie had an average of 14 days on market in May 2024, down by 44.8% compared to last year.
Breakdown of Home Sale Times
61 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 70 homes were sold in Skokie; 87% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.