Is Schaumburg, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Schaumburg is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Schaumburg, IL

How much do homes in Schaumburg, IL cost?

Median Sold Price

$306,809

$230/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,673(+5.4%)

Key Takeaway

Homes in Schaumburg have sold for 5.4% more than they did a year ago.

Summary: The median home sold price in Schaumburg was $306,809 in November 2024, up 5.4% from last year, and the median price per square foot was $230.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $145K$170.5K
+17.6%
2 $240K$260.6K
+8.6%
3 $365.6K$386K
+5.6%
4 $462.5K$520K
+12.4%
5+ $528.5K$625K
+18.3%

Summary: Schaumburg housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.6%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 18.3%.

Median Sold Price Compared To Nearby Cities

Rolling Meadows
+15.2%
Roselle
+12.3%
Schaumburg Township
+7.8%
Hoffman Estates
+6.3%
Schaumburg
+5.4%

Housing Supply in Schaumburg, IL

How many homes are available in Schaumburg, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
234232-0.9%

Summary: The Schaumburg real estate market had 232 homes for sale in November 2024, a 0.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1213
+8.3%
2 99103
+4.0%
3 8371
-14.5%
4 3235
+9.4%
5+ 810
+25.0%

Summary: The Schaumburg housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 4%, 3 bedroom homes decreased by 14.5%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
6566+1.5%

Asking Price vs. Sold Price

33 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Schaumburg, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 66 homes were sold or pending in Schaumburg in November 2024, up by 1.5% month-over-month. Of the 66 sold homes, 50% were sold under asking, 15% were sold at asking, and 35% were sold over asking.

Days on Market for Schaumburg, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
11 Days15 Days+34.7%

Summary: Homes in Schaumburg had an average of 15 days on market in Nov 2024, up by 34.7% compared to last year.

Breakdown of Home Sale Times

58 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 66 homes were sold in Schaumburg; 88% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 2% 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 3 Days Ago

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