Is Niles 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, Niles Township has remained a Seller's Market.
Housing Prices in Niles Township, IL
How much do homes in Niles Township, IL cost?
Median Sold Price
$389,379
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Niles Township was $389,379 in May 2024, up 5.2% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $155K | $161K | +3.9% |
2 Bedrooms | $265.8K | $290.9K | +9.5% |
3 Bedrooms | $385K | $401K | +4.2% |
4 Bedrooms | $525K | $545K | +3.8% |
5+ Bedrooms | $637.5K | $675K | +5.9% |
Summary: Niles Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.9%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 5.9%.
Median Sold Price Compared To Nearby Cities
Lincolnwood | $469.7K | $524.9K | +11.8% |
Morton Grove | $374.9K | $395.6K | +5.5% |
Skokie | $370K | $389.9K | +5.4% |
Niles Township | $370K | $389.3K | +5.2% |
Housing Supply in Niles Township, IL
How many homes are available in Niles Township, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
353 | 432 | +22.4% |
Summary: The Niles Township real estate market had 432 homes for sale in May 2024, a 22.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 25 | 29 | +16.0% |
2 Bedrooms | 97 | 120 | +23.7% |
3 Bedrooms | 144 | 180 | +25.0% |
4 Bedrooms | 53 | 63 | +18.9% |
5+ Bedrooms | 34 | 40 | +17.6% |
Summary: The Niles Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 23.7%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
102 | 131 | +28.4% |
Asking Price vs. Sold Price
56 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
53 Homes Were Sold
Over Asking
Summary: A total of 131 homes were sold or pending in Niles Township in May 2024, up by 28.4% month-over-month. Of the 131 sold homes, 43% were sold under asking, 17% were sold at asking, and 40% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 16 Days | -20.7% |
Summary: Homes in Niles Township had an average of 16 days on market in May 2024, down by 20.7% compared to last year.
Breakdown of Home Sale Times
114 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 131 homes were sold in Niles Township; 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.