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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Deerfield Township is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in Deerfield Township, IL

How much do homes in Deerfield Township, IL cost?

Median Sold Price

$549,750

$263/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$30,250(+5.8%)

Key Takeaway

Homes in Deerfield Township have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in Deerfield Township was $549,750 in August 2024, up 5.8% from last year, and the median price per square foot was $263.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $227.7K$270K
+18.6%
2 $320K$355K
+10.9%
3 $463.5K$447K
-3.6%
4 $700K$713.5K
+1.9%
5+ $877.5K$932.5K
+6.3%

Summary: Deerfield Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.6%, 2 bedroom homes increased by 10.9%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes increased by 6.3%.

Housing Supply in Deerfield Township, IL

How many homes are available in Deerfield Township, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
7181+14.1%

Summary: The Deerfield Township real estate market had 81 homes for sale in August 2024, a 14.1% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 1519
+26.7%
3 1927
+42.1%
4 2422
-8.3%
5+ 1313
0.0%

Summary: The Deerfield Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 42.1%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
2228+27.3%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Deerfield Township, you could pay more than the asking price. 46.4% of homes here sold above asking price last month.

Summary: A total of 28 homes were sold or pending in Deerfield Township in August 2024, up by 27.3% month-over-month. Of the 28 sold homes, 36% were sold under asking, 18% were sold at asking, and 46% were sold over asking.

Days on Market for Deerfield Township, IL

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

Average Sale Time

Aug 2023Aug 2024CHANGE
13 Days12 Days-6.1%

Summary: Homes in Deerfield Township had an average of 12 days on market in Aug 2024, down by 6.1% compared to last year.

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 28 homes were sold in Deerfield Township; 93% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% 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 7 Days Ago

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