Is Schiller Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Schiller Park is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Schiller Park has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Schiller Park, IL

How much do homes in Schiller Park, IL cost?

Median Sold Price

$254,000

$191/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$1,000(-0.4%)

Key Takeaway

The sold price of homes in Schiller Park has remained the same since last year.

Summary: The median home sold price in Schiller Park was $254,000 in March 2024, down 0.4% from last year, and the median price per square foot was $191.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $106K$115K
+8.5%
2 $152K$158.4K
+4.2%
3 $309.2K$320K
+3.5%
4 $344K$337.4K
-1.9%
5+ $451.5K$374.5K
-17.1%

Summary: Schiller Park housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 3.5%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 17.1%.

Median Sold Price Compared To Nearby Cities

Franklin Park
+9.1%
Leyden Township
+8.8%
Chicago
0.2%
Schiller Park
-0.4%

Housing Supply in Schiller Park, IL

How many homes are available in Schiller Park, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3038+26.7%

Summary: The Schiller Park real estate market had 38 homes for sale in March 2024, a 26.7% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 511
+120.0%
2 88
0.0%
3 1210
-16.7%
4 36
+100.0%
5+ 23
+50.0%

Summary: The Schiller Park housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 120%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
612+100.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Schiller Park, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 12 homes were sold or pending in Schiller Park in March 2024, up by 100.0% month-over-month. Of the 12 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.

Days on Market for Schiller Park, IL

How long does it take to sell a home in Schiller Park, IL?

Average Sale Time

Mar 2023Mar 2024CHANGE
52 Days29 Days-44.1%

Summary: Homes in Schiller Park had an average of 29 days on market in Mar 2024, down by 44.1% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 12 homes were sold in Schiller Park; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% 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 22 Days Ago

Newest Listings in Schiller Park, IL

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