Is Rolling Meadows, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rolling Meadows is a seller's market

Buyer's
Market

Difference Since August 2022

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

Key Takeaway

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

Housing Prices

How much do homes in Rolling Meadows, IL cost?

Median Sold Price

$276,000

$194/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

+$16,000(+6.2%)

Key Takeaway

Homes in Rolling Meadows have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Rolling Meadows was $276,000 in August 2023, up 6.2% from last year, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $111K$129.9K
+17.1%
2 $175K$210K
+20.0%
3 $292K$305K
+4.5%
4 $380K$430K
+13.2%
5+ $525K$511.7K
-2.5%

Summary: Rolling Meadows housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 17.1%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes decreased by 2.5%.

Median Sold Price Compared To Nearby Cities

Palatine
+12.4%
Schaumburg
+12.1%
Palatine Township
+8.0%
Rolling Meadows
+6.2%
Arlington Heights
+5.0%

Housing Supply

How many homes are available in Rolling Meadows, IL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
6258-6.5%

Summary: The Rolling Meadows real estate market had 58 homes for sale in August 2023, a 6.5% decrease compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 78
+14.3%
2 2320
-13.0%
3 2319
-17.4%
4 810
+25.0%
5+ 11
0.0%

Summary: The Rolling Meadows housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 13%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
2824-14.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rolling Meadows, you could pay more than the asking price. 54.2% of homes here sold above asking price last month.

Summary: A total of 24 homes were sold or pending in Rolling Meadows in August 2023, down by 14.3% month-over-month. Of the 24 sold homes, 25% were sold under asking, 21% were sold at asking, and 54% were sold over asking.

Days on Market

How long does it take to sell a home in Rolling Meadows, IL?

Average Sale Time

Aug 2022Aug 2023CHANGE
14 Days5 Days-61.7%

Summary: Homes in Rolling Meadows had an average of 5 days on market in Aug 2023, down by 61.7% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2023, 24 homes were sold in Rolling Meadows; 96% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% 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 29 Days Ago

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Nearby Markets

What housing markets are near Rolling Meadows, IL?