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 September 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

$550,000

$263/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$13,750(+2.6%)

Key Takeaway

Homes in Deerfield have sold for 2.6% more than they did a year ago.

Summary: The median home sold price in Deerfield was $550,000 in September 2024, up 2.6% from last year, and the median price per square foot was $263.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $219.2K$270K
+23.1%
2 $315K$362.5K
+15.1%
3 $465K$447K
-3.9%
4 $680K$705K
+3.7%
5+ $880K$950K
+8.0%

Summary: Deerfield housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.1%, 2 bedroom homes increased by 15.1%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 8%.

Median Sold Price Compared To Nearby Cities

Riverwoods
+18.9%
Northbrook
+12.5%
West Deerfield Township
+5.8%
Deerfield
+2.6%

Housing Supply in Deerfield, IL

How many homes are available in Deerfield, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
7772-6.5%

Summary: The Deerfield real estate market had 72 homes for sale in September 2024, a 6.5% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 01
+100.0%
2 1713
-23.5%
3 2719
-29.6%
4 2228
+27.3%
5+ 1111
0.0%

Summary: The Deerfield housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 23.5%, 3 bedroom homes decreased by 29.6%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2914-51.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Deerfield, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Deerfield in September 2024, down by 51.7% month-over-month. Of the 14 sold homes, 21% were sold under asking, 29% were sold at asking, and 50% 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

Sep 2023Sep 2024CHANGE
18 Days17 Days-4.8%

Summary: Homes in Deerfield had an average of 17 days on market in Sep 2024, down by 4.8% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

1 Home Was 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 September 2024, 14 homes were sold in Deerfield; 86% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 7% 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 3 Days Ago

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