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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northbrook is a neutral's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Northbrook was a Seller's Market.

Key Takeaway

Northbrook is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Northbrook, IL

How much do homes in Northbrook, IL cost?

Median Sold Price

$549,750

$242/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$15,901(-2.8%)

Key Takeaway

Homes in Northbrook have sold for 2.8% less than they did a year ago.

Summary: The median home sold price in Northbrook was $549,750 in January 2024, down 2.8% from last year, and the median price per square foot was $242.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $139.9K$154.2K
+10.2%
2 $299.9K$336K
+12.0%
3 $485K$499K
+2.9%
4 $735K$739.5K
+0.6%
5+ $926.9K$925K
-0.2%

Summary: Northbrook housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 0.2%.

Median Sold Price Compared To Nearby Cities

Northfield Township
+6.4%
Glenview
-2.6%
Northbrook
-2.8%
Deerfield
-4.9%

Housing Supply in Northbrook, IL

How many homes are available in Northbrook, IL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
9690-6.3%

Summary: The Northbrook real estate market had 90 homes for sale in January 2024, a 6.3% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 33
0.0%
2 3236
+12.5%
3 2019
-5.0%
4 3022
-26.7%
5+ 1110
-9.1%

Summary: The Northbrook housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes decreased by 9.1%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
3714-62.2%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northbrook, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Northbrook in January 2024, down by 62.2% month-over-month. Of the 14 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.

Days on Market for Northbrook, IL

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

Average Sale Time

Jan 2023Jan 2024CHANGE
53 Days24 Days-53.9%

Summary: Homes in Northbrook had an average of 24 days on market in Jan 2024, down by 53.9% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During January 2024, 14 homes were sold in Northbrook; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% 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 29 Days Ago

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