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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northfield is a seller's market

Buyer's
Market

Difference Since January 2023

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

Key Takeaway

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

Housing Prices in Northfield, IL

How much do homes in Northfield, IL cost?

Median Sold Price

$650,000

$278/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$138,000(-17.5%)

Key Takeaway

Homes in Northfield have sold for 17.5% less than they did a year ago.

Summary: The median home sold price in Northfield was $650,000 in January 2024, down 17.5% from last year, and the median price per square foot was $278.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $189K$256K
+35.4%
2 $320K$359K
+12.2%
3 $609K$650K
+6.7%
4 $880K$830K
-5.7%
5+ $1.8M$1.6M
-9.6%

Summary: Northfield housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.4%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes decreased by 9.6%.

Median Sold Price Compared To Nearby Cities

Winnetka
+8.2%
Northfield Township
+6.4%
New Trier Township
+2.0%
Glencoe
-0.3%
Northfield
-17.5%

Housing Supply in Northfield, IL

How many homes are available in Northfield, IL?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
2322-4.3%

Summary: The Northfield real estate market had 22 homes for sale in January 2024, a 4.3% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 10
-100.0%
2 84
-50.0%
3 56
+20.0%
4 47
+75.0%
5+ 55
0.0%

Summary: The Northfield housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
124-66.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 4 homes were sold or pending in Northfield in January 2024, down by 66.7% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for Northfield, IL

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

Average Sale Time

Jan 2023Jan 2024CHANGE
56 Days3 Days-93.3%

Summary: Homes in Northfield had an average of 3 days on market in Jan 2024, down by 93.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During January 2024, 4 homes were sold in Northfield; 100% of homes were sold within 30 days, 0% 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

Newest Listings in Northfield, IL

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