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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Niles is a seller's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in Niles, IL cost?

Median Sold Price

$320,000

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

-$1,666(-0.5%)

Key Takeaway

Homes in Niles have sold for 0.5% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $120.5K$135K
+12.0%
2 $248.5K$250K
+0.6%
3 $349.6K$353.5K
+1.1%
4 $415K$450K
+8.4%
5+ $545K$562.5K
+3.2%

Median Sold Price Compared To Nearby Cities

Morton Grove
+5.4%
Park Ridge
+3.4%
Maine Township
+3.0%
Niles Township
+2.4%
Niles
-0.5%

How many homes are available in Niles, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
8692+7.0%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 1012
+20.0%
2 2925
-13.8%
3 3541
+17.1%
4 108
-20.0%
5+ 26
+200.0%

Number of Homes Sold

Oct 2022Nov 2022%
2225+13.6%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Niles, you may be able to get a good deal. 84% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
25 Days29 Days+16.1%

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Niles, IL

Homes for sale in Niles, IL have reached 92. The number of listings in Niles, IL increased by 7% between October 2022 and November 2022. The median list price of listings available in November 2022 was $320,000, while the average time on the real estate market was 29 days. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 12% more expensive, the cost of 2 bedrooms properties went up by 0.6%, 3 bedrooms properties became 1.1% more expensive, the cost of 4 bedrooms properties went up by 8.4%, 5 bedrooms properties became 3.2% more expensive. This housing market inventory have changed: 1 bedroom homes inventory increased by 20%, 2 bedrooms homes became 13.8% less available, volume of 3 bedrooms homes went up by 17.1%, 4 bedrooms homes inventory decreased by 20%, the quantity of 5 bedrooms homes went up by 200%. In November 2022, from all listings sold in Niles, IL there were more than 3 sold above asking price, over 21 sold below and more than 1 were sold right at the asked price.

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