Is Northbrook, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Northbrook has remained a Seller's Market.
Housing Prices in Northbrook, IL
How much do homes in Northbrook, IL cost?
Median Sold Price
$586,200
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Northbrook was $586,200 in May 2024, up 7.5% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $143.9K | $165.3K | +14.9% |
2 Bedrooms | $315K | $340K | +7.9% |
3 Bedrooms | $485K | $565.5K | +16.6% |
4 Bedrooms | $740K | $751.5K | +1.6% |
5+ Bedrooms | $946.5K | $1.0M | +7.8% |
Summary: Northbrook housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 16.6%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 7.8%.
Median Sold Price Compared To Nearby Cities
Northfield Township | $564.2K | $616.2K | +9.2% |
Northbrook | $545.5K | $586.2K | +7.5% |
Deerfield | $525K | $548K | +4.4% |
Glenview | $578.8K | $580K | 0.2% |
Housing Supply in Northbrook, IL
How many homes are available in Northbrook, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
180 | 205 | +13.9% |
Summary: The Northbrook real estate market had 205 homes for sale in May 2024, a 13.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 54 | 52 | -3.7% |
3 Bedrooms | 51 | 64 | +25.5% |
4 Bedrooms | 44 | 55 | +25.0% |
5+ Bedrooms | 28 | 32 | +14.3% |
Summary: The Northbrook housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes increased by 25.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
41 | 60 | +46.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Summary: A total of 60 homes were sold or pending in Northbrook in May 2024, up by 46.3% month-over-month. Of the 60 sold homes, 30% were sold under asking, 13% were sold at asking, and 57% were sold over asking.
Days on Market for Northbrook, IL
How long does it take to sell a home in Northbrook, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 18 Days | -8.7% |
Summary: Homes in Northbrook had an average of 18 days on market in May 2024, down by 8.7% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 60 homes were sold in Northbrook; 83% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.