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 March 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

$305,483

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$30,433(+11.1%)

Key Takeaway

Homes in Schaumburg Township have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in Schaumburg Township was $305,483 in March 2024, up 11.1% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $125K$148.5K
+18.8%
2 $211.1K$240.4K
+13.9%
3 $317K$355K
+12.0%
4 $419.5K$425K
+1.3%
5+ $460K$445K
-3.3%

Summary: Schaumburg Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.8%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes decreased by 3.3%.

Median Sold Price Compared To Nearby Cities

Schaumburg
+15.1%
Schaumburg Township
+11.1%
Roselle
+9.9%
Hoffman Estates
+8.6%
Hanover Park
+7.7%

Housing Supply in Schaumburg Township, IL

How many homes are available in Schaumburg Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
273359+31.5%

Summary: The Schaumburg Township real estate market had 359 homes for sale in March 2024, a 31.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 1925
+31.6%
2 100126
+26.0%
3 94131
+39.4%
4 4759
+25.5%
5+ 1318
+38.5%

Summary: The Schaumburg Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.6%, 2 bedroom homes increased by 26%, 3 bedroom homes increased by 39.4%, 4 bedroom homes increased by 25.5%, and 5+ bedroom homes increased by 38.5%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
69109+58.0%

Asking Price vs. Sold Price

33 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

62 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. 56.9% of homes here sold above asking price last month.

Summary: A total of 109 homes were sold or pending in Schaumburg Township in March 2024, up by 58.0% month-over-month. Of the 109 sold homes, 30% were sold under asking, 13% were sold at asking, and 57% 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

Mar 2023Mar 2024CHANGE
33 Days18 Days-44.7%

Summary: Homes in Schaumburg Township had an average of 18 days on market in Mar 2024, down by 44.7% compared to last year.

Breakdown of Home Sale Times

88 Homes Were Sold
Under 30 Days

16 Homes Were Sold
In 30 - 90 Days

5 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 March 2024, 109 homes were sold in Schaumburg Township; 81% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% 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 18 Days Ago

Newest Listings in Schaumburg Township, IL

Nearby Markets to Schaumburg Township, IL

What housing markets are near Schaumburg Township, IL?