Hello everyone, it’s Nick Kein from The Kombrink Team at One Source Realty, your dedicated local REALTOR® in Hoffman Estates, Illinois. In today’s vlog, I’m thrilled to bring you the latest insights from our real estate market for April 2024.

Market Overview

We are currently experiencing a notably low Months Supply of Inventory at just .65 months in Hoffman Estates. This low supply indicates a strong seller's market, with more buyers than available homes. It's an ideal time for sellers, as the competition among buyers can lead to quicker sales and potentially higher offers.

Housing Supply Hoffman Estates IL April 2024

Trends Over the Last Year

The past year has seen a 12% increase in the Months Supply of Inventory. Although we are still in a seller's market, this increase suggests a gradual movement towards a more balanced market. For buyers, this might mean a slight increase in options available in the coming months, easing some of the intense competition.

Pricing Insights

One of the most encouraging stats for sellers is the List to Sold Price percentage. Currently, homes in Hoffman Estates are selling for an average of 101% of their list price. This percentage indicates that not only are homes selling fast, but they are also selling for above the asking price, which is great news for anyone looking to sell.

List to Sold Price Housing Hoffman Estates IL April 2024

Time on Market

The median days on market is incredibly short at just 11 days. This rapid turnover highlights the urgency among buyers and the effectiveness of pricing strategies in our area. If you’re contemplating selling, now is an opportune moment to enter the market.

Real Estate Market Time Hoffman Estates IL April 2024

Median Sold Price

Lastly, the median sold price in Hoffman Estates stands at $357,500. This robust figure reflects a stable market and suggests that property values in our area are maintaining their strength amidst fluctuating market conditions.

Median Home Sales Price Hoffman Estates IL April 2024

Final Thoughts

Whether you’re looking to buy or sell, staying informed about the current market conditions is crucial. If you have any questions or are considering a real estate move, don’t hesitate to reach out. I’m here to assist you every step of the way in navigating the Hoffman Estates real estate market.

Thank you for tuning in to this market update. I look forward to helping you achieve your real estate goals. Happy house hunting, and see you in the next update!


For a more personal discussion or specific inquiries, feel free to contact me at 630-405-3855.

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