Is Niles Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Niles Township is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Niles Township, IL

How much do homes in Niles Township, IL cost?

Median Sold Price

$385,944

$237/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$15,944(+4.3%)

Key Takeaway

Homes in Niles Township have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in Niles Township was $385,944 in April 2024, up 4.3% from last year, and the median price per square foot was $237.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $150K$156K
+4.0%
2 $266.1K$285.7K
+7.4%
3 $385K$400K
+3.9%
4 $521.2K$550K
+5.5%
5+ $650K$675K
+3.8%

Summary: Niles Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 5.5%, and 5+ bedroom homes increased by 3.8%.

Median Sold Price Compared To Nearby Cities

Lincolnwood
+17.8%
Skokie
+6.5%
Niles Township
+4.3%
Morton Grove
+4.0%

Housing Supply in Niles Township, IL

How many homes are available in Niles Township, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
306357+16.7%

Summary: The Niles Township real estate market had 357 homes for sale in April 2024, a 16.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1925
+31.6%
2 7595
+26.7%
3 130152
+16.9%
4 5755
-3.5%
5+ 2530
+20.0%

Summary: The Niles Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.6%, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 16.9%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
10295-6.9%

Asking Price vs. Sold Price

39 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

40 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Niles Township, you could pay more than the asking price. 42.1% of homes here sold above asking price last month.

Summary: A total of 95 homes were sold or pending in Niles Township in April 2024, down by 6.9% month-over-month. Of the 95 sold homes, 41% were sold under asking, 17% were sold at asking, and 42% were sold over asking.

Days on Market for Niles Township, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
24 Days18 Days-25.8%

Summary: Homes in Niles Township had an average of 18 days on market in Apr 2024, down by 25.8% compared to last year.

Breakdown of Home Sale Times

77 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 95 homes were sold in Niles Township; 81% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% 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 16 Days Ago

Newest Listings in Niles Township, IL

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