Is Skokie, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Skokie is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Skokie, IL

How much do homes in Skokie, IL cost?

Median Sold Price

$390,000

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$23,833(+6.5%)

Key Takeaway

Homes in Skokie have sold for 6.5% more than they did a year ago.

Summary: The median home sold price in Skokie was $390,000 in April 2024, up 6.5% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $165K$144K
-12.7%
2 $271.5K$280K
+3.1%
3 $380K$410K
+7.9%
4 $534.7K$549K
+2.7%
5+ $582.5K$662.5K
+13.7%

Summary: Skokie housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.7%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 13.7%.

Median Sold Price Compared To Nearby Cities

Lincolnwood
+17.8%
Skokie
+6.5%
Evanston Township
+4.5%
Niles Township
+4.3%
Morton Grove
+4.0%

Housing Supply in Skokie, IL

How many homes are available in Skokie, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
162189+16.7%

Summary: The Skokie real estate market had 189 homes for sale in April 2024, a 16.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1116
+45.5%
2 4452
+18.2%
3 6478
+21.9%
4 2929
0.0%
5+ 1414
0.0%

Summary: The Skokie housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 45.5%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 21.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
5447-13.0%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

20 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Skokie, you may be able to get a good deal. 42.6% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in Skokie in April 2024, down by 13.0% month-over-month. Of the 47 sold homes, 43% were sold under asking, 15% were sold at asking, and 43% were sold over asking.

Days on Market for Skokie, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
29 Days17 Days-41.0%

Summary: Homes in Skokie had an average of 17 days on market in Apr 2024, down by 41% compared to last year.

Breakdown of Home Sale Times

40 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 47 homes were sold in Skokie; 85% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 6% 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 8 Days Ago

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