Is Niles, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Niles has remained a Seller's Market.
Housing Prices in Niles, IL
How much do homes in Niles, IL cost?
Median Sold Price
$349,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Niles was $349,000 in February 2024, up 7.3% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | $158.9K | +17.7% |
2 Bedrooms | $254.5K | $284.2K | +11.7% |
3 Bedrooms | $367.5K | $375K | +2.0% |
4 Bedrooms | $450K | $470K | +4.4% |
5+ Bedrooms | $559.9K | $580K | +3.6% |
Summary: Niles housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.7%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
Niles | $325.3K | $349K | +7.3% |
Maine Township | $330.1K | $352.8K | +6.9% |
Morton Grove | $375K | $389K | +3.7% |
Niles Township | $369.1K | $380.4K | +3.1% |
Park Ridge | $500K | $510K | +2.0% |
Housing Supply in Niles, IL
How many homes are available in Niles, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
52 | 52 | 0.0% |
Summary: The Niles real estate market had 52 homes for sale in February 2024, the same as January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 15 | 16 | +6.7% |
3 Bedrooms | 22 | 18 | -18.2% |
4 Bedrooms | 9 | 11 | +22.2% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Niles housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
12 | 15 | +25.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Niles in February 2024, up by 25.0% month-over-month. Of the 15 sold homes, 53% were sold under asking, 13% were sold at asking, and 33% were sold over asking.
Days on Market for Niles, IL
How long does it take to sell a home in Niles, IL?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
22 Days | 49 Days | +115.1% |
Summary: Homes in Niles had an average of 49 days on market in Feb 2024, up by 115.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During February 2024, 15 homes were sold in Niles; 47% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.