Is Deerfield, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Deerfield has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $197.5K | $233.2K | +18.1% |
2 Bedrooms | $269.9K | $315K | +16.7% |
3 Bedrooms | $467K | $439.9K | -5.8% |
4 Bedrooms | $662.5K | $683.7K | +3.2% |
5+ Bedrooms | $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 | $678.5K | $702.5K | +3.5% |
Northbrook | $548K | $556.8K | +1.6% |
Deerfield | $550.1K | $520.5K | -5.4% |
Housing Supply in Deerfield, IL
How many homes are available in Deerfield, IL?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
52 | 56 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 8 | +33.3% |
3 Bedrooms | 14 | 13 | -7.1% |
4 Bedrooms | 20 | 22 | +10.0% |
5+ Bedrooms | 12 | 13 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
13 | 18 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
45 Days | 26 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
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.