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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Deerfield Township is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in West Deerfield Township, IL

How much do homes in West Deerfield Township, IL cost?

Median Sold Price

$721,500

$265/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$45,562(+6.7%)

Key Takeaway

Homes in West Deerfield Township have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in West Deerfield Township was $721,500 in March 2024, up 6.7% from last year, and the median price per square foot was $265.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $210K$236K
+12.4%
2 $295K$350K
+18.6%
3 $490K$535K
+9.2%
4 $757.5K$819.5K
+8.2%
5+ $1.1M$1.1M
-2.2%

Summary: West Deerfield Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.4%, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 2.2%.

Median Sold Price Compared To Nearby Cities

West Deerfield Township
+6.7%
Highland Park
+5.5%
Deerfield
-1.8%

Housing Supply in West Deerfield Township, IL

How many homes are available in West Deerfield Township, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
114127+11.4%

Summary: The West Deerfield Township real estate market had 127 homes for sale in March 2024, a 11.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 10
-100.0%
2 78
+14.3%
3 2519
-24.0%
4 4658
+26.1%
5+ 3542
+20.0%

Summary: The West Deerfield Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes decreased by 24%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
26260.0%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Deerfield Township, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in West Deerfield Township in March 2024, the same as the previous month. Of the 26 sold homes, 62% were sold under asking, 15% were sold at asking, and 23% were sold over asking.

Days on Market for West Deerfield Township, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
42 Days36 Days-13.6%

Summary: Homes in West Deerfield Township had an average of 36 days on market in Mar 2024, down by 13.6% compared to last year.

Breakdown of Home Sale Times

17 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 26 homes were sold in West Deerfield Township; 65% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 12% 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

Newest Listings in West Deerfield Township, IL

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