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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Schaumburg Township is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Schaumburg Township, IL

How much do homes in Schaumburg Township, IL cost?

Median Sold Price

$312,595

$222/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$26,891(+9.4%)

Key Takeaway

Homes in Schaumburg Township have sold for 9.4% more than they did a year ago.

Summary: The median home sold price in Schaumburg Township was $312,595 in September 2024, up 9.4% from last year, and the median price per square foot was $222.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $131K$160K
+22.1%
2 $225.4K$254.4K
+12.9%
3 $335K$363.6K
+8.5%
4 $415K$450K
+8.4%
5+ $455K$467K
+2.6%

Summary: Schaumburg Township housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.1%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 2.6%.

Median Sold Price Compared To Nearby Cities

Hoffman Estates
+11.8%
Roselle
+9.9%
Schaumburg Township
+9.4%
Schaumburg
+8.9%
Hanover Park
+7.6%

Housing Supply in Schaumburg Township, IL

How many homes are available in Schaumburg Township, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
402422+5.0%

Summary: The Schaumburg Township real estate market had 422 homes for sale in September 2024, a 5.0% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 2723
-14.8%
2 141140
-0.7%
3 144164
+13.9%
4 7278
+8.3%
5+ 1817
-5.6%

Summary: The Schaumburg Township housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.8%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 5.6%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
145111-23.4%

Asking Price vs. Sold Price

45 Homes Were Sold
Under Asking

16 Homes Were Sold
At Asking

50 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Schaumburg Township, you could pay more than the asking price. 45% of homes here sold above asking price last month.

Summary: A total of 111 homes were sold or pending in Schaumburg Township in September 2024, down by 23.4% month-over-month. Of the 111 sold homes, 41% were sold under asking, 14% were sold at asking, and 45% were sold over asking.

Days on Market for Schaumburg Township, IL

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

Average Sale Time

Sep 2023Sep 2024CHANGE
14 Days16 Days+16.7%

Summary: Homes in Schaumburg Township had an average of 16 days on market in Sep 2024, up by 16.7% compared to last year.

Breakdown of Home Sale Times

94 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 111 homes were sold in Schaumburg Township; 85% of homes were sold within 30 days, 14% 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 10 Days Ago

Newest Listings in Schaumburg Township, IL

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