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 July 2021

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.

How much do homes in Schaumburg Township, IL cost?

Median Sold Price

$264,497

$185/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$14,451(+5.8%)

Key Takeaway

Homes in Schaumburg Township have sold for 5.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $114.4K$115K
0.5%
2 $175K$192K
+9.8%
3 $278.4K$310K
+11.3%
4 $367K$405K
+10.3%
5+ $377.4K$432.5K
+14.6%

Median Sold Price Compared To Nearby Cities

Hoffman Estates
+10.2%
Schaumburg
+7.1%
Hanover Park
+7.1%
Schaumburg Township
+5.8%
Roselle
+5.7%

How many homes are available in Schaumburg Township, IL?

Number of Homes For Sale

Jun 2022Jul 2022%
641630-1.7%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 3235
+9.4%
2 206215
+4.4%
3 229215
-6.1%
4 144139
-3.5%
5+ 3026
-13.3%

Number of Homes Sold

Jun 2022Jul 2022%
227155-31.7%

Asking Price vs. Sold Price

49 Homes Were Sold
Under Asking

24 Homes Were Sold
At Asking

82 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. 52.9% of homes here sold above asking price last month.

Average Sale Time

Jul 2021Jul 2022%
14 Days12 Days-10.6%

Breakdown of Home Sale Times

140 Homes Were Sold
Under 30 Days

13 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Schaumburg Township, IL

Homes for sale in Schaumburg Township, IL have reached 630. The number of listings in Schaumburg Township, IL decreased by 1.7% between June 2022 and July 2022. The median list price of listings available in July 2022 was $264,497, while the average time on the real estate market was 12 days. Between June 2022 and July 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 0.5%, prices of 2 bedrooms properties went up by 9.8%, prices of 3 bedrooms properties went up by 11.3%, prices of 4 bedrooms properties went up by 10.3%, prices of 5 bedrooms properties increased by 14.6%. Housing inventory have changed in this real estate market: 1 bedroom homes inventory increased by 9.4%, 2 bedrooms homes inventory increased by 4.4%, 3 bedrooms homes inventory decreased by 6.1%, 4 bedrooms homes became 3.5% less available, volume of 5 bedrooms homes went down by 13.3%. Over 82 listings were sold over their listed price in July 2022 in Schaumburg Township, IL. In the same period over 49 listings were sold below the listed price and 24 listings were sold for the listed price.

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