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 2022

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

$293,361

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

+$40,777(+16.1%)

Key Takeaway

Homes in Schaumburg have sold for 16.1% more than they did a year ago.

Summary: The median home sold price in Schaumburg was $293,361 in November 2023, up 16.1% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $125K$144.5K
+15.6%
2 $215.8K$239.9K
+11.2%
3 $335K$365K
+9.0%
4 $440K$465K
+5.7%
5+ $517.5K$528.5K
+2.1%

Summary: Schaumburg housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes increased by 11.2%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 2.1%.

Median Sold Price Compared To Nearby Cities

Schaumburg
+16.1%
Schaumburg Township
+11.3%
Hoffman Estates
+9.1%
Rolling Meadows
+7.7%
Roselle
+7.1%

Housing Supply in Schaumburg, IL

How many homes are available in Schaumburg, IL?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
181167-7.7%

Summary: The Schaumburg real estate market had 167 homes for sale in November 2023, a 7.7% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 1314
+7.7%
2 6564
-1.5%
3 7256
-22.2%
4 2325
+8.7%
5+ 88
0.0%

Summary: The Schaumburg housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
7157-19.7%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

28 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Schaumburg, you could pay more than the asking price. 49.1% of homes here sold above asking price last month.

Summary: A total of 57 homes were sold or pending in Schaumburg in November 2023, down by 19.7% month-over-month. Of the 57 sold homes, 25% were sold under asking, 26% were sold at asking, and 49% 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 2022Nov 2023CHANGE
20 Days12 Days-40.0%

Summary: Homes in Schaumburg had an average of 12 days on market in Nov 2023, down by 40% compared to last year.

Breakdown of Home Sale Times

52 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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 2023, 57 homes were sold in Schaumburg; 91% of homes were sold within 30 days, 9% 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 9 Days Ago

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