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 September 2023

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.

Housing Prices in Northlake, IL

How much do homes in Northlake, IL cost?

Median Sold Price

$287,450

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$24,950(+9.5%)

Key Takeaway

Homes in Northlake have sold for 9.5% more than they did a year ago.

Summary: The median home sold price in Northlake was $287,450 in September 2024, up 9.5% from last year, and the median price per square foot was $203.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $102K$110K
+7.8%
2 $232.9K$227.5K
-2.3%
3 $272.5K$302.5K
+11.0%
4 $284K$334.5K
+17.8%
5+ $298K$359K
+20.5%

Summary: Northlake housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 11%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes increased by 20.5%.

Median Sold Price Compared To Nearby Cities

Franklin Park
+10.1%
Northlake
+9.5%
Melrose Park
+7.6%
Berkeley
-4.6%

Housing Supply in Northlake, IL

How many homes are available in Northlake, IL?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
3429-14.7%

Summary: The Northlake real estate market had 29 homes for sale in September 2024, a 14.7% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 76
-14.3%
2 22
0.0%
3 139
-30.8%
4 1112
+9.1%
5+ 10
-100.0%

Summary: The Northlake housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 30.8%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
118-27.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northlake, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Northlake in September 2024, down by 27.3% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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

Sep 2023Sep 2024CHANGE
51 Days15 Days-71.0%

Summary: Homes in Northlake had an average of 15 days on market in Sep 2024, down by 71% compared to last year.

Breakdown of Home Sale Times

7 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.

Summary: During September 2024, 8 homes were sold in Northlake; 88% of homes were sold within 30 days, 13% 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 30 Days Ago

Newest Listings in Northlake, IL

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