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 March 2023

At the same time last year, Northfield was a Neutral 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

$659,000

$297/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$116,500(-15.0%)

Key Takeaway

Homes in Northfield have sold for 15% less than they did a year ago.

Summary: The median home sold price in Northfield was $659,000 in March 2024, down 15% from last year, and the median price per square foot was $297.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $174.5K$256K
+46.7%
2 $314K$359K
+14.3%
3 $627.5K$650K
+3.6%
4 $812.5K$942.5K
+16.0%
5+ $1.8M$1.6M
-10.1%

Summary: Northfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 46.7%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 16%, and 5+ bedroom homes decreased by 10.1%.

Median Sold Price Compared To Nearby Cities

Winnetka
+12.4%
Northfield Township
+8.9%
New Trier Township
+4.6%
Glencoe
-0.2%
Northfield
-15.0%

Housing Supply in Northfield, IL

How many homes are available in Northfield, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
3036+20.0%

Summary: The Northfield real estate market had 36 homes for sale in March 2024, a 20.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 64
-33.3%
3 1113
+18.2%
4 46
+50.0%
5+ 913
+44.4%

Summary: The Northfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 44.4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
710+42.9%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

7 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. 70% of homes here sold above asking price last month.

Summary: A total of 10 homes were sold or pending in Northfield in March 2024, up by 42.9% month-over-month. Of the 10 sold homes, 10% were sold under asking, 20% were sold at asking, and 70% 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

Mar 2023Mar 2024CHANGE
41 Days8 Days-79.6%

Summary: Homes in Northfield had an average of 8 days on market in Mar 2024, down by 79.6% compared to last year.

Breakdown of Home Sale Times

10 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 March 2024, 10 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 24 Days Ago

Newest Listings in Northfield, IL

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