Is Deerfield, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Deerfield is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Deerfield has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Deerfield, IL

How much do homes in Deerfield, IL cost?

Median Sold Price

$520,500

$244/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$29,666(-5.4%)

Key Takeaway

Homes in Deerfield have sold for 5.4% less than they did a year ago.

Summary: The median home sold price in Deerfield was $520,500 in February 2024, down 5.4% from last year, and the median price per square foot was $244.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $197.5K$233.2K
+18.1%
2 $269.9K$315K
+16.7%
3 $467K$439.9K
-5.8%
4 $662.5K$683.7K
+3.2%
5+ $800K$917.5K
+14.7%

Summary: Deerfield housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 5.8%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 14.7%.

Median Sold Price Compared To Nearby Cities

West Deerfield Township
+3.5%
Northbrook
+1.6%
Deerfield
-5.4%

Housing Supply in Deerfield, IL

How many homes are available in Deerfield, IL?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5256+7.7%

Summary: The Deerfield real estate market had 56 homes for sale in February 2024, a 7.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 68
+33.3%
3 1413
-7.1%
4 2022
+10.0%
5+ 1213
+8.3%

Summary: The Deerfield housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1318+38.5%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Deerfield, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Deerfield in February 2024, up by 38.5% month-over-month. Of the 18 sold homes, 56% were sold under asking, 17% were sold at asking, and 28% were sold over asking.

Days on Market for Deerfield, IL

How long does it take to sell a home in Deerfield, IL?

Average Sale Time

Feb 2023Feb 2024CHANGE
45 Days26 Days-40.2%

Summary: Homes in Deerfield had an average of 26 days on market in Feb 2024, down by 40.2% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 18 homes were sold in Deerfield; 61% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 6% 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 27 Days Ago

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