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 June 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

$393,813

$235/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$23,813(+6.4%)

Key Takeaway

Homes in Skokie have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in Skokie was $393,813 in June 2024, up 6.4% from last year, and the median price per square foot was $235.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $171K$151.2K
-11.6%
2 $275K$285.5K
+3.8%
3 $382.2K$416K
+8.8%
4 $541K$531K
-1.8%
5+ $580K$675K
+16.4%

Summary: Skokie housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.6%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes increased by 16.4%.

Median Sold Price Compared To Nearby Cities

Lincolnwood
+10.7%
Morton Grove
+8.4%
Skokie
+6.4%
Evanston Township
+5.9%
Niles Township
+5.7%

Housing Supply in Skokie, IL

How many homes are available in Skokie, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
203217+6.9%

Summary: The Skokie real estate market had 217 homes for sale in June 2024, a 6.9% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 1411
-21.4%
2 6065
+8.3%
3 8489
+6.0%
4 2829
+3.6%
5+ 1723
+35.3%

Summary: The Skokie housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 21.4%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 35.3%.

Number of Homes Sold

May 2024Jun 2024CHANGE
7363-13.7%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

31 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Skokie, you could pay more than the asking price. 49.2% of homes here sold above asking price last month.

Summary: A total of 63 homes were sold or pending in Skokie in June 2024, down by 13.7% month-over-month. Of the 63 sold homes, 35% were sold under asking, 16% were sold at asking, and 49% 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

Jun 2023Jun 2024CHANGE
18 Days24 Days+29.4%

Summary: Homes in Skokie had an average of 24 days on market in Jun 2024, up by 29.4% compared to last year.

Breakdown of Home Sale Times

48 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

2 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 June 2024, 63 homes were sold in Skokie; 76% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% 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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