Is Schaumburg, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Schaumburg has remained a Seller's Market.
Housing Prices in Schaumburg, IL
How much do homes in Schaumburg, IL cost?
Median Sold Price
$304,320
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Schaumburg was $304,320 in March 2024, up 15.1% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $128.5K | $155K | +20.6% |
2 Bedrooms | $224.3K | $247K | +10.1% |
3 Bedrooms | $330K | $380K | +15.2% |
4 Bedrooms | $447.7K | $475K | +6.1% |
5+ Bedrooms | $538K | $510K | -5.2% |
Summary: Schaumburg housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.6%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 5.2%.
Median Sold Price Compared To Nearby Cities
Schaumburg | $264.3K | $304.3K | +15.1% |
Schaumburg Township | $275K | $305.4K | +11.1% |
Roselle | $282K | $310K | +9.9% |
Rolling Meadows | $268K | $291.1K | +8.7% |
Hoffman Estates | $327K | $355K | +8.6% |
Housing Supply in Schaumburg, IL
How many homes are available in Schaumburg, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
161 | 213 | +32.3% |
Summary: The Schaumburg real estate market had 213 homes for sale in March 2024, a 32.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 12 | +9.1% |
2 Bedrooms | 61 | 77 | +26.2% |
3 Bedrooms | 54 | 78 | +44.4% |
4 Bedrooms | 26 | 34 | +30.8% |
5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The Schaumburg housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 26.2%, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 30.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
36 | 66 | +83.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 66 homes were sold or pending in Schaumburg in March 2024, up by 83.3% month-over-month. Of the 66 sold homes, 26% were sold under asking, 15% were sold at asking, and 59% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
35 Days | 15 Days | -55.7% |
Summary: Homes in Schaumburg had an average of 15 days on market in Mar 2024, down by 55.7% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 66 homes were sold in Schaumburg; 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.