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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Niles Township is a seller's market

Buyer's
Market

Difference Since October 2021

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

Key Takeaway

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

How much do homes in Niles Township, IL cost?

Median Sold Price

$365,048

$222/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$5,899(+1.6%)

Key Takeaway

Homes in Niles Township have sold for 1.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $131K$150.4K
+14.8%
2 $247.7K$261.8K
+5.7%
3 $369.9K$380.2K
+2.8%
4 $490K$500K
+2.0%
5+ $586K$610K
+4.1%

Median Sold Price Compared To Nearby Cities

Lincolnwood
+7.4%
Morton Grove
+5.3%
Niles Township
+1.6%
Skokie
+1.5%

How many homes are available in Niles Township, IL?

Number of Homes For Sale

Sep 2022Oct 2022%
364377+3.6%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 1211
-8.3%
2 8689
+3.5%
3 168184
+9.5%
4 5752
-8.8%
5+ 4141
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
11676-34.5%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Niles Township, you may be able to get a good deal. 68.4% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
26 Days20 Days-23.7%

Breakdown of Home Sale Times

59 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Niles Township 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 Township, IL

Number of homes for sale in Niles Township, IL real estate market have reached 377. In October 2022 in Niles Township, IL there were 3.6% more homes for sale than in September 2022. While the average time on the market in October 2022 was 20 days, the median list price was $365,048. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties became 14.8% more expensive, 2 bedrooms properties prices increased by 5.7%, the cost of 3 bedrooms properties went up by 2.8%, prices of 4 bedrooms properties increased by 2%, prices of 5 bedrooms properties went up by 4.1%. Volume of homes for sale changed: 1 bedroom homes became 8.3% less available, the quantity of 2 bedrooms homes went up by 3.5%, 3 bedrooms homes inventory increased by 9.5%, volume of 4 bedrooms homes went down by 8.8%, volume of 5 bedrooms homes stayed the same. In October 2022, from all listings sold in Niles Township, IL there were more than 16 sold above asking price, over 52 sold below and more than 8 were sold right at the asked price.

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