Is Hoffman Estates, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Hoffman Estates was $355,000 in June 2024, up 7.6% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112.5K | $130K | +15.6% |
2 Bedrooms | $193.5K | $207.2K | +7.1% |
3 Bedrooms | $325K | $350.1K | +7.7% |
4 Bedrooms | $440K | $458K | +4.1% |
5+ Bedrooms | $485K | $567.5K | +17.0% |
Summary: Hoffman Estates housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 17%.
Median Sold Price Compared To Nearby Cities
South Barrington | $953.7K | $1.0M | +14.8% |
Schaumburg Township | $274.9K | $312.2K | +13.6% |
Streamwood | $265K | $295K | +11.3% |
Hoffman Estates | $330K | $355K | +7.6% |
Barrington Township | $648.6K | $686K | +5.8% |
Housing Supply in Hoffman Estates, IL
How many homes are available in Hoffman Estates, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
164 | 177 | +7.9% |
Summary: The Hoffman Estates real estate market had 177 homes for sale in June 2024, a 7.9% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 12 | 12 | 0.0% |
2 Bedrooms | 34 | 37 | +8.8% |
3 Bedrooms | 57 | 48 | -15.8% |
4 Bedrooms | 45 | 60 | +33.3% |
5+ Bedrooms | 16 | 20 | +25.0% |
Summary: The Hoffman Estates housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 8.8%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
60 | 50 | -16.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
37 Homes Were Sold
Over Asking
Summary: A total of 50 homes were sold or pending in Hoffman Estates in June 2024, down by 16.7% month-over-month. Of the 50 sold homes, 24% were sold under asking, 2% were sold at asking, and 74% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
10 Days | 19 Days | +97.0% |
Summary: Homes in Hoffman Estates had an average of 19 days on market in Jun 2024, up by 97% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During June 2024, 50 homes were sold in Hoffman Estates; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.