Is Schaumburg Township, 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 Township has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $148.5K | +18.8% |
2 Bedrooms | $211.1K | $240.4K | +13.9% |
3 Bedrooms | $317K | $355K | +12.0% |
4 Bedrooms | $419.5K | $425K | +1.3% |
5+ Bedrooms | $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 | $264.3K | $304.3K | +15.1% |
Schaumburg Township | $275K | $305.4K | +11.1% |
Roselle | $282K | $310K | +9.9% |
Hoffman Estates | $327K | $355K | +8.6% |
Hanover Park | $268.4K | $289K | +7.7% |
Housing Supply in Schaumburg Township, IL
How many homes are available in Schaumburg Township, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
273 | 359 | +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
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 19 | 25 | +31.6% |
2 Bedrooms | 100 | 126 | +26.0% |
3 Bedrooms | 94 | 131 | +39.4% |
4 Bedrooms | 47 | 59 | +25.5% |
5+ Bedrooms | 13 | 18 | +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 2024 | Mar 2024 | CHANGE |
---|---|---|
69 | 109 | +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
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 2023 | Mar 2024 | CHANGE |
---|---|---|
33 Days | 18 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
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.