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 September 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

$401,000

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$26,000(+6.9%)

Key Takeaway

Homes in Skokie have sold for 6.9% more than they did a year ago.

Summary: The median home sold price in Skokie was $401,000 in September 2024, up 6.9% from last year, and the median price per square foot was $238.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $167.5K$153.7K
-8.2%
2 $276K$305K
+10.5%
3 $405.5K$418.5K
+3.2%
4 $564K$550K
-2.5%
5+ $607.9K$691K
+13.7%

Summary: Skokie housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.2%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 13.7%.

Median Sold Price Compared To Nearby Cities

Evanston Township
+10.0%
Skokie
+6.9%
Niles Township
+6.5%
Morton Grove
+6.4%
Lincolnwood
+5.5%

Housing Supply in Skokie, IL

How many homes are available in Skokie, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
192199+3.6%

Summary: The Skokie real estate market had 199 homes for sale in September 2024, a 3.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 1312
-7.7%
2 5162
+21.6%
3 8677
-10.5%
4 2933
+13.8%
5+ 1315
+15.4%

Summary: The Skokie housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 7.7%, 2 bedroom homes increased by 21.6%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 15.4%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
6243-30.6%

Asking Price vs. Sold Price

24 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

12 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. 55.8% of homes here sold below asking price last month.

Summary: A total of 43 homes were sold or pending in Skokie in September 2024, down by 30.6% month-over-month. Of the 43 sold homes, 56% were sold under asking, 16% were sold at asking, and 28% 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

Sep 2023Sep 2024CHANGE
23 Days14 Days-38.9%

Summary: Homes in Skokie had an average of 14 days on market in Sep 2024, down by 38.9% compared to last year.

Breakdown of Home Sale Times

36 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 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 September 2024, 43 homes were sold in Skokie; 84% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 0% 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

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