Is Northlake, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$280,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Northlake was $280,000 in March 2024, up 10.3% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $86.5K | $103K | +19.1% |
2 Bedrooms | $240K | $180K | -25.0% |
3 Bedrooms | $265K | $295.4K | +11.5% |
4 Bedrooms | $281.5K | $322.5K | +14.6% |
5+ Bedrooms | $375K | $354K | -5.6% |
Summary: Northlake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.1%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes decreased by 5.6%.
Median Sold Price Compared To Nearby Cities
Northlake | $253.7K | $280K | +10.3% |
Franklin Park | $275K | $300K | +9.1% |
Melrose Park | $295K | $300K | +1.7% |
Stone Park | $295K | $287.5K | -2.5% |
Berkeley | $281K | $267.5K | -4.8% |
Housing Supply in Northlake, IL
How many homes are available in Northlake, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 22 | +22.2% |
Summary: The Northlake real estate market had 22 homes for sale in March 2024, a 22.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 8 | 12 | +50.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Northlake 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 50%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1 | 5 | +400.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Northlake in March 2024, up by 400.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
17 Days | 30 Days | +73.9% |
Summary: Homes in Northlake had an average of 30 days on market in Mar 2024, up by 73.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Northlake; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.