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 April 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

$285,000

$206/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$31,875(+12.6%)

Key Takeaway

Homes in Northlake have sold for 12.6% more than they did a year ago.

Summary: The median home sold price in Northlake was $285,000 in April 2024, up 12.6% from last year, and the median price per square foot was $206.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $90K$105.7K
+17.5%
2 $236.4K$210K
-11.2%
3 $264.2K$298K
+12.8%
4 $280K$325K
+16.1%
5+ $342.5K$400K
+16.8%

Summary: Northlake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.5%, 2 bedroom homes decreased by 11.2%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 16.8%.

Median Sold Price Compared To Nearby Cities

Northlake
+12.6%
Franklin Park
+9.1%
Melrose Park
+3.1%
Stone Park
-0.1%
Berkeley
-3.9%

Housing Supply in Northlake, IL

How many homes are available in Northlake, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2225+13.6%

Summary: The Northlake real estate market had 25 homes for sale in April 2024, a 13.6% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 25
+150.0%
2 23
+50.0%
3 1312
-7.7%
4 22
0.0%
5+ 33
0.0%

Summary: The Northlake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
660.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was 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. 83.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Northlake in April 2024, the same as the previous month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% 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

Apr 2023Apr 2024CHANGE
43 Days47 Days+7.5%

Summary: Homes in Northlake had an average of 47 days on market in Apr 2024, up by 7.5% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Northlake has remained consistent over time.

Summary: During April 2024, 6 homes were sold in Northlake; 17% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 17% 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 16 Days Ago

Newest Listings in Northlake, IL

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