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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Deerfield is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Deerfield, IL

How much do homes in Deerfield, IL cost?

Median Sold Price

$545,000

$255/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$11,683(+2.2%)

Key Takeaway

Homes in Deerfield have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in Deerfield was $545,000 in April 2024, up 2.2% from last year, and the median price per square foot was $255.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $217.5K$236K
+8.5%
2 $276K$325K
+17.8%
3 $450K$447.4K
-0.6%
4 $641.2K$735K
+14.6%
5+ $796.5K$915K
+14.9%

Summary: Deerfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 17.8%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 14.9%.

Median Sold Price Compared To Nearby Cities

West Deerfield Township
+11.7%
Northbrook
+7.5%
Riverwoods
+5.8%
Deerfield
+2.2%

Housing Supply in Deerfield, IL

How many homes are available in Deerfield, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
7091+30.0%

Summary: The Deerfield real estate market had 91 homes for sale in April 2024, a 30.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 1218
+50.0%
3 1521
+40.0%
4 3035
+16.7%
5+ 1317
+30.8%

Summary: The Deerfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 30.8%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1827+50.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Deerfield, you could pay more than the asking price. 63% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Deerfield in April 2024, up by 50.0% month-over-month. Of the 27 sold homes, 26% were sold under asking, 11% were sold at asking, and 63% were sold over asking.

Days on Market for Deerfield, IL

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

Average Sale Time

Apr 2023Apr 2024CHANGE
20 Days8 Days-55.6%

Summary: Homes in Deerfield had an average of 8 days on market in Apr 2024, down by 55.6% compared to last year.

Breakdown of Home Sale Times

26 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 Deerfield are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 27 homes were sold in Deerfield; 96% of homes were sold within 30 days, 4% 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 28 Days Ago

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