Is Northlake, 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, Northlake has remained a Seller's Market.
Housing Prices in Northlake, IL
How much do homes in Northlake, IL cost?
Median Sold Price
$289,900
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Northlake was $289,900 in May 2024, up 16% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $86.5K | $105.7K | +22.3% |
2 Bedrooms | $236.4K | $177.5K | -24.9% |
3 Bedrooms | $257.5K | $300K | +16.5% |
4 Bedrooms | $280K | $325K | +16.1% |
5+ Bedrooms | $375K | $377K | 0.5% |
Summary: Northlake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.3%, 2 bedroom homes decreased by 24.9%, 3 bedroom homes increased by 16.5%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
Northlake | $250K | $289.9K | +16.0% |
Franklin Park | $275K | $310K | +12.7% |
Melrose Park | $290K | $300K | +3.4% |
Stone Park | $290K | $295K | +1.7% |
Berkeley | $283K | $270K | -4.6% |
Housing Supply in Northlake, IL
How many homes are available in Northlake, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 33 | +50.0% |
Summary: The Northlake real estate market had 33 homes for sale in May 2024, a 50.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 10 | +100.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 11 | 15 | +36.4% |
4 Bedrooms | 1 | 3 | +200.0% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Northlake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 36.4%, 4 bedroom homes increased by 200%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 6 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Northlake in May 2024, the same as the previous month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Northlake, IL
How long does it take to sell a home in Northlake, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
108 Days | 53 Days | -50.5% |
Summary: Homes in Northlake had an average of 53 days on market in May 2024, down by 50.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Northlake; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.