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 June 2023

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.

Housing Prices in Niles Township, IL

How much do homes in Niles Township, IL cost?

Median Sold Price

$390,792

$239/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$21,029(+5.7%)

Key Takeaway

Homes in Niles Township have sold for 5.7% more than they did a year ago.

Summary: The median home sold price in Niles Township was $390,792 in June 2024, up 5.7% from last year, and the median price per square foot was $239.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $155K$162.7K
+5.0%
2 $275K$290.9K
+5.8%
3 $384.7K$405K
+5.3%
4 $525K$547K
+4.2%
5+ $635K$685.5K
+8.0%

Summary: Niles Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 8%.

Median Sold Price Compared To Nearby Cities

Lincolnwood
+10.7%
Morton Grove
+8.4%
Skokie
+6.4%
Niles Township
+5.7%

Housing Supply in Niles Township, IL

How many homes are available in Niles Township, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
408464+13.7%

Summary: The Niles Township real estate market had 464 homes for sale in June 2024, a 13.7% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 2528
+12.0%
2 114126
+10.5%
3 178195
+9.6%
4 5969
+16.9%
5+ 3246
+43.8%

Summary: The Niles Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 16.9%, and 5+ bedroom homes increased by 43.8%.

Number of Homes Sold

May 2024Jun 2024CHANGE
135127-5.9%

Asking Price vs. Sold Price

44 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

68 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Niles Township, you could pay more than the asking price. 53.5% of homes here sold above asking price last month.

Summary: A total of 127 homes were sold or pending in Niles Township in June 2024, down by 5.9% month-over-month. Of the 127 sold homes, 35% were sold under asking, 12% were sold at asking, and 54% were sold over asking.

Days on Market for Niles Township, IL

How long does it take to sell a home in Niles Township, IL?

Average Sale Time

Jun 2023Jun 2024CHANGE
20 Days20 Days0.1%

Summary: Homes in Niles Township had an average of 20 days on market in Jun 2024, up by 0.1% compared to last year.

Breakdown of Home Sale Times

105 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

4 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.

Summary: During June 2024, 127 homes were sold in Niles Township; 83% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

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

Report Updated 26 Days Ago

Newest Listings in Niles Township, IL

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