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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northfield Township is a seller's market

Buyer's
Market

Difference Since August 2022

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

Key Takeaway

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

Housing Prices

How much do homes in Northfield Township, IL cost?

Median Sold Price

$570,688

$249/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2022

+$28,704(+5.3%)

Key Takeaway

Homes in Northfield Township have sold for 5.3% more than they did a year ago.

Summary: The median home sold price in Northfield Township was $570,688 in August 2023, up 5.3% from last year, and the median price per square foot was $249.

Median Sold Price By Bedroom Count

# BEDSAug 2022Aug 2023CHANGE
1 $139.9K$158.5K
+13.3%
2 $266.3K$305K
+14.5%
3 $498.5K$505K
+1.3%
4 $739.5K$775K
+4.8%
5+ $1.0M$1.1M
+8.4%

Summary: Northfield Township housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 13.3%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 8.4%.

Median Sold Price Compared To Nearby Cities

Northfield Township
+5.3%
Northfield
+0.7%
Northbrook
0.2%
Glenview
-1.9%

Housing Supply

How many homes are available in Northfield Township, IL?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
374407+8.8%

Summary: The Northfield Township real estate market had 407 homes for sale in August 2023, a 8.8% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 58
+60.0%
2 8293
+13.4%
3 109122
+11.9%
4 113119
+5.3%
5+ 6565
0.0%

Summary: The Northfield Township housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 13.4%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
112121+8.0%

Asking Price vs. Sold Price

58 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

46 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northfield Township, you may be able to get a good deal. 47.9% of homes here sold below asking price last month.

Summary: A total of 121 homes were sold or pending in Northfield Township in August 2023, up by 8.0% month-over-month. Of the 121 sold homes, 48% were sold under asking, 14% were sold at asking, and 38% were sold over asking.

Days on Market

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

Average Sale Time

Aug 2022Aug 2023CHANGE
15 Days23 Days+58.7%

Summary: Homes in Northfield Township had an average of 23 days on market in Aug 2023, up by 58.7% compared to last year.

Breakdown of Home Sale Times

93 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2023, 121 homes were sold in Northfield Township; 77% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% 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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Nearby Markets

What housing markets are near Northfield Township, IL?