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 June 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

$757,000

$310/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

-$43,000(-5.4%)

Key Takeaway

Homes in Northfield have sold for 5.4% less than they did a year ago.

Summary: The median home sold price in Northfield was $757,000 in June 2024, down 5.4% from last year, and the median price per square foot was $310.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $180K$256K
+42.2%
2 $359K$357.5K
-0.4%
3 $725K$642.5K
-11.4%
4 $855K$910K
+6.4%
5+ $1.6M$1.7M
+7.1%

Summary: Northfield housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.2%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 7.1%.

Median Sold Price Compared To Nearby Cities

Glencoe
+14.6%
Winnetka
+13.5%
Northfield Township
+10.5%
New Trier Township
+4.0%
Northfield
-5.4%

Housing Supply in Northfield, IL

How many homes are available in Northfield, IL?

Number of Homes For Sale

May 2024Jun 2024CHANGE
4446+4.5%

Summary: The Northfield real estate market had 46 homes for sale in June 2024, a 4.5% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 01
+100.0%
2 76
-14.3%
3 911
+22.2%
4 69
+50.0%
5+ 2219
-13.6%

Summary: The Northfield housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 13.6%.

Number of Homes Sold

May 2024Jun 2024CHANGE
911+22.2%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northfield, expect to pay close to the asking price. 45.5% of homes here sold near the asking price last month.

Summary: A total of 11 homes were sold or pending in Northfield in June 2024, up by 22.2% month-over-month. Of the 11 sold homes, 18% were sold under asking, 45% were sold at asking, and 36% 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

Jun 2023Jun 2024CHANGE
40 Days11 Days-71.2%

Summary: Homes in Northfield had an average of 11 days on market in Jun 2024, down by 71.2% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

1 Home Was 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 June 2024, 11 homes were sold in Northfield; 91% of homes were sold within 30 days, 9% 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 26 Days Ago

Newest Listings in Northfield, IL

Nearby Markets to Northfield, IL

What housing markets are near Northfield, IL?