Is Hoffman Estates, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Hoffman Estates has remained a Seller's Market.
Housing Prices in Hoffman Estates, IL
How much do homes in Hoffman Estates, IL cost?
Median Sold Price
$355,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hoffman Estates was $355,000 in April 2024, up 9.2% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.5K | $130K | +15.6% |
2 Bedrooms | $184.5K | $204.7K | +11.0% |
3 Bedrooms | $322K | $350.2K | +8.8% |
4 Bedrooms | $442.5K | $455K | +2.8% |
5+ Bedrooms | $484.5K | $526.5K | +8.7% |
Summary: Hoffman Estates housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
Streamwood | $260K | $295K | +13.5% |
Schaumburg Township | $274.4K | $306.2K | +11.6% |
South Barrington | $952.5K | $1.0M | +9.7% |
Hoffman Estates | $325K | $355K | +9.2% |
Barrington Township | $694.5K | $650.7K | -6.3% |
Housing Supply in Hoffman Estates, IL
How many homes are available in Hoffman Estates, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
142 | 151 | +6.3% |
Summary: The Hoffman Estates real estate market had 151 homes for sale in April 2024, a 6.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 13 | +8.3% |
2 Bedrooms | 40 | 37 | -7.5% |
3 Bedrooms | 47 | 49 | +4.3% |
4 Bedrooms | 34 | 42 | +23.5% |
5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Hoffman Estates housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes decreased by 7.5%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
50 | 55 | +10.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Summary: A total of 55 homes were sold or pending in Hoffman Estates in April 2024, up by 10.0% month-over-month. Of the 55 sold homes, 16% were sold under asking, 20% were sold at asking, and 64% were sold over asking.
Days on Market for Hoffman Estates, IL
How long does it take to sell a home in Hoffman Estates, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
14 Days | 8 Days | -40.4% |
Summary: Homes in Hoffman Estates had an average of 8 days on market in Apr 2024, down by 40.4% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 55 homes were sold in Hoffman Estates; 95% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.