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 November 2021

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.

How much do homes in Skokie, IL cost?

Median Sold Price

$364,964

$225/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$8,797(+2.5%)

Key Takeaway

Homes in Skokie have sold for 2.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $133.5K$165K
+23.6%
2 $235K$260K
+10.6%
3 $374.1K$380K
+1.6%
4 $480K$499.9K
+4.2%
5+ $561.2K$591K
+5.3%

Median Sold Price Compared To Nearby Cities

Lincolnwood
+6.7%
Morton Grove
+5.4%
Skokie
+2.5%
Niles Township
+2.4%
Evanston Township
+1.1%

How many homes are available in Skokie, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
218214-1.8%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 78
+14.3%
2 5864
+10.3%
3 9795
-2.1%
4 3024
-20.0%
5+ 2623
-11.5%

Number of Homes Sold

Oct 2022Nov 2022%
5344-17.0%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

7 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. 70.5% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
22 Days29 Days+29.9%

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

13 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Skokie, IL

Number of homes for sale in Skokie, IL real estate market have reached 214. In November 2022 in Skokie, IL there were 1.8% less homes for sale than in October 2022. The median list price of listings available in November 2022 was $364,964, while the average time on the real estate market was 29 days. Real estate listing prices changed between October 2022 and November 2022: prices of 1 bedroom properties went up by 23.6%, 2 bedrooms properties prices increased by 10.6%, prices of 3 bedrooms properties increased by 1.6%, the cost of 4 bedrooms properties went up by 4.2%, prices of 5 bedrooms properties increased by 5.3%. The following changes in the number of homes for sale were observed in this housing market: volume of 1 bedroom homes went up by 14.3%, the quantity of 2 bedrooms homes went up by 10.3%, volume of 3 bedrooms homes went down by 2.1%, 4 bedrooms homes inventory decreased by 20%, volume of 5 bedrooms homes went down by 11.5%. Over 7 listings were sold over their listed price in November 2022 in Skokie, IL. In the same period over 31 listings were sold below the listed price and 6 listings were sold for the listed price.

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