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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northlake is a seller's market

Buyer's
Market

Difference Since July 2021

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

Key Takeaway

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

How much do homes in Northlake, IL cost?

Median Sold Price

$252,250

$184/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$12,250(+5.1%)

Key Takeaway

Homes in Northlake have sold for 5.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $71.5K$80K
+12.0%
2 $215K$210K
-2.3%
3 $229.9K$272.2K
+18.4%
4 $266.9K$275K
+3.0%
5+ $309K$290K
-6.1%

Median Sold Price Compared To Nearby Cities

Melrose Park
+17.3%
Franklin Park
+6.0%
Northlake
+5.1%
Stone Park
+4.4%

How many homes are available in Northlake, IL?

Number of Homes For Sale

Jun 2022Jul 2022%
5349-7.5%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 66
0.0%
2 67
+16.7%
3 2419
-20.8%
4 1212
0.0%
5+ 55
0.0%

Number of Homes Sold

Jun 2022Jul 2022%
1213+8.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northlake, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.

Average Sale Time

Jul 2021Jul 2022%
26 Days14 Days-44.3%

Breakdown of Home Sale Times

12 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 Northlake are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Northlake, IL

Northlake, IL has 49 homes on the market. Between June 2022 and July 2022, Northlake, IL real estate market has seen decrease in the number of listings by 7.5%. The median list price of listings available in July 2022 was $252,250, while the average time on the real estate market was 14 days. From June 2022 through July 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 12%, prices of 2 bedrooms properties decreased by 2.3%, the cost of 3 bedrooms properties went up by 18.4%, prices of 4 bedrooms properties increased by 3%, prices of 5 bedrooms properties decreased by 6.1%. Volume of homes for sale changed: 1 bedroom homes inventory did not change, volume of 2 bedrooms homes went up by 16.7%, volume of 3 bedrooms homes went down by 20.8%, volume of 4 bedrooms homes stayed the same, the quantity of 5 bedrooms homes have not changed. In July 2022, from all listings sold in Northlake, IL there were more than 8 sold above asking price, over 5 sold below and more than 0 were sold right at the asked price.

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