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 October 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

$563,750

$268/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$35,416(+6.7%)

Key Takeaway

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

Summary: The median home sold price in Deerfield was $563,750 in October 2024, up 6.7% from last year, and the median price per square foot was $268.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $227.7K$325K
+42.7%
2 $315K$360K
+14.3%
3 $460.5K$462.5K
0.4%
4 $675K$721.5K
+6.9%
5+ $905K$950K
+5.0%

Summary: Deerfield housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.7%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 5%.

Median Sold Price Compared To Nearby Cities

Riverwoods
+20.0%
Northbrook
+11.7%
West Deerfield Township
+7.1%
Deerfield
+6.7%

Housing Supply in Deerfield, IL

How many homes are available in Deerfield, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
6586+32.3%

Summary: The Deerfield real estate market had 86 homes for sale in October 2024, a 32.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 13
+200.0%
2 1214
+16.7%
3 1828
+55.6%
4 2429
+20.8%
5+ 1012
+20.0%

Summary: The Deerfield housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1819+5.6%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

10 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. 52.6% of homes here sold above asking price last month.

Summary: A total of 19 homes were sold or pending in Deerfield in October 2024, up by 5.6% month-over-month. Of the 19 sold homes, 37% were sold under asking, 11% were sold at asking, and 53% 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

Oct 2023Oct 2024CHANGE
20 Days13 Days-35.6%

Summary: Homes in Deerfield had an average of 13 days on market in Oct 2024, down by 35.6% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 October 2024, 19 homes were sold in Deerfield; 95% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 5% 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 20 Days Ago

Newest Listings in Deerfield, IL

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