Is Niles, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Niles has remained a Seller's Market.
Housing Prices in Niles, IL
How much do homes in Niles, IL cost?
Median Sold Price
$350,583
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Niles was $350,583 in April 2024, up 7.9% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140K | $162.2K | +15.9% |
2 Bedrooms | $251.2K | $287.4K | +14.4% |
3 Bedrooms | $368.2K | $376K | +2.1% |
4 Bedrooms | $455.5K | $463.5K | +1.8% |
5+ Bedrooms | $565.1K | $580K | +2.6% |
Summary: Niles housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.9%, 2 bedroom homes increased by 14.4%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Cities
Niles | $325K | $350.5K | +7.9% |
Maine Township | $334.8K | $359.9K | +7.5% |
Park Ridge | $495K | $522.4K | +5.5% |
Niles Township | $370K | $385.9K | +4.3% |
Morton Grove | $375K | $390K | +4.0% |
Housing Supply in Niles, IL
How many homes are available in Niles, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
63 | 75 | +19.0% |
Summary: The Niles real estate market had 75 homes for sale in April 2024, a 19.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 14 | 22 | +57.1% |
3 Bedrooms | 27 | 32 | +18.5% |
4 Bedrooms | 14 | 11 | -21.4% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Niles housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 18.5%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 20 | -28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Niles in April 2024, down by 28.6% month-over-month. Of the 20 sold homes, 25% were sold under asking, 15% were sold at asking, and 60% were sold over asking.
Days on Market for Niles, IL
How long does it take to sell a home in Niles, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
15 Days | 12 Days | -21.6% |
Summary: Homes in Niles had an average of 12 days on market in Apr 2024, down by 21.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 20 homes were sold in Niles; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.