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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northbrook is a seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

Housing Prices in Northbrook, IL

How much do homes in Northbrook, IL cost?

Median Sold Price

$589,333

$250/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$46,833(+8.6%)

Key Takeaway

Homes in Northbrook have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in Northbrook was $589,333 in June 2024, up 8.6% from last year, and the median price per square foot was $250.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $144K$172.7K
+20.0%
2 $315K$340K
+7.9%
3 $475K$585K
+23.2%
4 $759K$755K
-0.5%
5+ $958K$970K
+1.3%

Summary: Northbrook housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 23.2%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 1.3%.

Median Sold Price Compared To Nearby Cities

Northfield Township
+10.5%
Northbrook
+8.6%
Deerfield
+4.8%
Glenview
+1.8%

Housing Supply in Northbrook, IL

How many homes are available in Northbrook, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
196200+2.0%

Summary: The Northbrook real estate market had 200 homes for sale in June 2024, a 2.0% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 21
-50.0%
2 4847
-2.1%
3 6164
+4.9%
4 5455
+1.9%
5+ 3133
+6.5%

Summary: The Northbrook housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 6.5%.

Number of Homes Sold

May 2024Jun 2024CHANGE
6558-10.8%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

32 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northbrook, you could pay more than the asking price. 55.2% of homes here sold above asking price last month.

Summary: A total of 58 homes were sold or pending in Northbrook in June 2024, down by 10.8% month-over-month. Of the 58 sold homes, 26% were sold under asking, 19% were sold at asking, and 55% 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

Jun 2023Jun 2024CHANGE
24 Days17 Days-27.5%

Summary: Homes in Northbrook had an average of 17 days on market in Jun 2024, down by 27.5% compared to last year.

Breakdown of Home Sale Times

52 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

4 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 June 2024, 58 homes were sold in Northbrook; 90% of homes were sold within 30 days, 3% 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 26 Days Ago

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