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 March 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

$383,991

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$13,991(+3.8%)

Key Takeaway

Homes in Niles Township have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Niles Township was $383,991 in March 2024, up 3.8% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $151K$157K
+4.0%
2 $265K$285.4K
+7.7%
3 $385K$400K
+3.9%
4 $527K$549K
+4.2%
5+ $637.5K$675K
+5.9%

Summary: Niles Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Cities

Lincolnwood
+13.6%
Skokie
+6.1%
Morton Grove
+4.0%
Niles Township
+3.8%

Housing Supply in Niles Township, IL

How many homes are available in Niles Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
261312+19.5%

Summary: The Niles Township real estate market had 312 homes for sale in March 2024, a 19.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1319
+46.2%
2 6878
+14.7%
3 112133
+18.8%
4 4857
+18.8%
5+ 2025
+25.0%

Summary: The Niles Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 46.2%, 2 bedroom homes increased by 14.7%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
6697+47.0%

Asking Price vs. Sold Price

48 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

31 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. 49.5% of homes here sold below asking price last month.

Summary: A total of 97 homes were sold or pending in Niles Township in March 2024, up by 47.0% month-over-month. Of the 97 sold homes, 49% were sold under asking, 19% were sold at asking, and 32% 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

Mar 2023Mar 2024CHANGE
32 Days28 Days-13.7%

Summary: Homes in Niles Township had an average of 28 days on market in Mar 2024, down by 13.7% compared to last year.

Breakdown of Home Sale Times

66 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

9 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 March 2024, 97 homes were sold in Niles Township; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% 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 24 Days Ago

Newest Listings in Niles Township, IL

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