Is Schaumburg Township, 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, Schaumburg Township has remained a Seller's Market.
Housing Prices in Schaumburg Township, IL
How much do homes in Schaumburg Township, IL cost?
Median Sold Price
$308,825
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Schaumburg Township was $308,825 in May 2024, up 12.3% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125.5K | $155K | +23.5% |
2 Bedrooms | $214.9K | $245.2K | +14.1% |
3 Bedrooms | $320.7K | $355K | +10.7% |
4 Bedrooms | $415K | $437.9K | +5.5% |
5+ Bedrooms | $450K | $460K | +2.2% |
Summary: Schaumburg Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.5%, 2 bedroom homes increased by 14.1%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
Schaumburg | $261.5K | $309.4K | +18.3% |
Schaumburg Township | $274.9K | $308.8K | +12.3% |
Roselle | $290K | $315K | +8.6% |
Hoffman Estates | $327K | $355K | +8.6% |
Hanover Park | $274.7K | $294.7K | +7.3% |
Housing Supply in Schaumburg Township, IL
How many homes are available in Schaumburg Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
381 | 434 | +13.9% |
Summary: The Schaumburg Township real estate market had 434 homes for sale in May 2024, a 13.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 25 | 27 | +8.0% |
2 Bedrooms | 127 | 137 | +7.9% |
3 Bedrooms | 140 | 161 | +15.0% |
4 Bedrooms | 67 | 88 | +31.3% |
5+ Bedrooms | 22 | 21 | -4.5% |
Summary: The Schaumburg Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes decreased by 4.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
144 | 138 | -4.2% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
90 Homes Were Sold
Over Asking
Summary: A total of 138 homes were sold or pending in Schaumburg Township in May 2024, down by 4.2% month-over-month. Of the 138 sold homes, 19% were sold under asking, 16% were sold at asking, and 65% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 15 Days | +13.4% |
Summary: Homes in Schaumburg Township had an average of 15 days on market in May 2024, up by 13.4% compared to last year.
Breakdown of Home Sale Times
119 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 138 homes were sold in Schaumburg Township; 86% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.