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 January 2022

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.

How much do homes in Deerfield, IL cost?

Median Sold Price

$550,500

$238/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$44,000(+8.7%)

Key Takeaway

Homes in Deerfield have sold for 8.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $173K$197.5K
+14.2%
2 $265K$271.4K
+2.4%
3 $385K$455K
+18.2%
4 $600K$662.5K
+10.4%
5+ $710K$796.5K
+12.2%

Median Sold Price Compared To Nearby Cities

Northbrook
+12.2%
West Deerfield Township
+11.0%
Deerfield
+8.7%
Riverwoods
-2.1%

How many homes are available in Deerfield, IL?

Number of Homes For Sale

Dec 2022Jan 2023%
6369+9.5%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 11
0.0%
2 44
0.0%
3 2129
+38.1%
4 2830
+7.1%
5+ 95
-44.4%

Number of Homes Sold

Dec 2022Jan 2023%
1417+21.4%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 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. 64.7% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
31 Days16 Days-48.0%

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Deerfield, IL

Homes for sale in Deerfield, IL have reached 69. In January 2023 in Deerfield, IL there were 9.5% more homes for sale than in December 2022. In January 2023, listings were on the market for 16 days. During the same period, the median list price in this real estate market was $550,500. Between December 2022 and January 2023, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties increased by 14.2%, prices of 2 bedrooms properties increased by 2.4%, prices of 3 bedrooms properties went up by 18.2%, prices of 4 bedrooms properties increased by 10.4%, the cost of 5 bedrooms properties went up by 12.2%. Volume of homes for sale changed: 1 bedroom homes inventory did not change, the quantity of 2 bedrooms homes have not changed, 3 bedrooms homes became 38.1% more available, 4 bedrooms homes became 7.1% more available, number of 5 bedrooms homes decreased by 44.4%. Deerfield, IL housing market in January 2023 saw over 4 listings sold above listed price, more than 2 sold at listed price and over 11 sold below.

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