Is Niles, 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, Niles has remained a Seller's Market.
Housing Prices in Niles, IL
How much do homes in Niles, IL cost?
Median Sold Price
$365,000
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Niles was $365,000 in June 2024, up 12.3% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $142K | $166.2K | +17.1% |
2 Bedrooms | $261K | $287.4K | +10.1% |
3 Bedrooms | $350K | $382K | +9.1% |
4 Bedrooms | $452.5K | $499K | +10.3% |
5+ Bedrooms | $565.1K | $590K | +4.4% |
Summary: Niles housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 4.4%.
Median Sold Price Compared To Nearby Cities
Niles | $325K | $365K | +12.3% |
Maine Township | $330.4K | $370.7K | +12.2% |
Park Ridge | $489K | $534.3K | +9.3% |
Morton Grove | $371.6K | $403K | +8.4% |
Niles Township | $369.7K | $390.7K | +5.7% |
Housing Supply in Niles, IL
How many homes are available in Niles, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
102 | 116 | +13.7% |
Summary: The Niles real estate market had 116 homes for sale in June 2024, a 13.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 12 | +71.4% |
2 Bedrooms | 29 | 28 | -3.4% |
3 Bedrooms | 46 | 48 | +4.3% |
4 Bedrooms | 15 | 22 | +46.7% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Niles housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 71.4%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
33 | 31 | -6.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Niles in June 2024, down by 6.1% month-over-month. Of the 31 sold homes, 32% were sold under asking, 10% were sold at asking, and 58% 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
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
29 Days | 9 Days | -68.9% |
Summary: Homes in Niles had an average of 9 days on market in Jun 2024, down by 68.9% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 31 homes were sold in Niles; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.