Is Northlake, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Northlake has remained a Seller's Market.
Housing Prices in Northlake, IL
How much do homes in Northlake, IL cost?
Median Sold Price
$285,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Northlake was $285,000 in June 2024, up 14% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $92.6K | $109.9K | +18.7% |
2 Bedrooms | $240K | $210K | -12.5% |
3 Bedrooms | $252.5K | $298.5K | +18.2% |
4 Bedrooms | $280K | $365K | +30.4% |
5+ Bedrooms | $375K | $377K | 0.5% |
Summary: Northlake housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.7%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 30.4%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
Northlake | $249.9K | $285K | +14.0% |
Franklin Park | $275K | $310K | +12.7% |
Melrose Park | $290K | $300K | +3.4% |
Berkeley | $281.5K | $273K | -3.0% |
Stone Park | $294K | $275.2K | -6.4% |
Housing Supply in Northlake, IL
How many homes are available in Northlake, IL?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
28 | 36 | +28.6% |
Summary: The Northlake real estate market had 36 homes for sale in June 2024, a 28.6% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 10 | +11.1% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 14 | 17 | +21.4% |
4 Bedrooms | 1 | 4 | +300.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Northlake housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes remained the same, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 300%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
8 | 9 | +12.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Northlake in June 2024, up by 12.5% month-over-month. Of the 9 sold homes, 22% were sold under asking, 22% were sold at asking, and 56% were sold over asking.
Days on Market for Northlake, IL
How long does it take to sell a home in Northlake, IL?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
36 Days | 21 Days | -40.1% |
Summary: Homes in Northlake had an average of 21 days on market in Jun 2024, down by 40.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 9 homes were sold in Northlake; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.