Is New Trier Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Trier Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, New Trier Township has remained a Seller's Market.

Key Takeaway

New Trier Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in New Trier Township, IL

How much do homes in New Trier Township, IL cost?

Median Sold Price

$1,045,555

$368/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$47,484(+4.8%)

Key Takeaway

Homes in New Trier Township have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in New Trier Township was $1,045,555 in May 2024, up 4.8% from last year, and the median price per square foot was $368.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $167.5K$225K
+34.3%
2 $420K$395K
-6.0%
3 $615K$650K
+5.7%
4 $1.1M$1.2M
+14.5%
5+ $1.8M$2.0M
+12.2%

Summary: New Trier Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.3%, 2 bedroom homes decreased by 6%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 14.5%, and 5+ bedroom homes increased by 12.2%.

Median Sold Price Compared To Nearby Cities

Winnetka
+12.8%
New Trier Township
+4.8%
Wilmette
+4.6%
Northfield
-14.7%
Kenilworth
-21.6%

Housing Supply in New Trier Township, IL

How many homes are available in New Trier Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
276305+10.5%

Summary: The New Trier Township real estate market had 305 homes for sale in May 2024, a 10.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 2219
-13.6%
3 5463
+16.7%
4 98101
+3.1%
5+ 100120
+20.0%

Summary: The New Trier Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 13.6%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
7682+7.9%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

51 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Trier Township, you could pay more than the asking price. 62.2% of homes here sold above asking price last month.

Summary: A total of 82 homes were sold or pending in New Trier Township in May 2024, up by 7.9% month-over-month. Of the 82 sold homes, 26% were sold under asking, 12% were sold at asking, and 62% were sold over asking.

Days on Market for New Trier Township, IL

How long does it take to sell a home in New Trier Township, IL?

Average Sale Time

May 2023May 2024CHANGE
15 Days11 Days-25.3%

Summary: Homes in New Trier Township had an average of 11 days on market in May 2024, down by 25.3% compared to last year.

Breakdown of Home Sale Times

77 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in New Trier Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 82 homes were sold in New Trier Township; 94% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 2% 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 1 Day Ago

Newest Listings in New Trier Township, IL

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