Is Schaumburg, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
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
$293,361
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
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
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $144.5K | +15.6% |
2 Bedrooms | $215.8K | $239.9K | +11.2% |
3 Bedrooms | $335K | $365K | +9.0% |
4 Bedrooms | $440K | $465K | +5.7% |
5+ Bedrooms | $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 | $252.5K | $293.3K | +16.1% |
Schaumburg Township | $265.5K | $295.4K | +11.3% |
Hoffman Estates | $320.8K | $350K | +9.1% |
Rolling Meadows | $260K | $280K | +7.7% |
Roselle | $280K | $300K | +7.1% |
Housing Supply in Schaumburg, IL
How many homes are available in Schaumburg, IL?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
181 | 167 | -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
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 13 | 14 | +7.7% |
2 Bedrooms | 65 | 64 | -1.5% |
3 Bedrooms | 72 | 56 | -22.2% |
4 Bedrooms | 23 | 25 | +8.7% |
5+ Bedrooms | 8 | 8 | 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 2023 | Nov 2023 | CHANGE |
---|---|---|
71 | 57 | -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
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 2022 | Nov 2023 | CHANGE |
---|---|---|
20 Days | 12 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
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.