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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northbrook is a seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in Northbrook, IL

How much do homes in Northbrook, IL cost?

Median Sold Price

$615,000

$265/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$65,546(+11.9%)

Key Takeaway

Homes in Northbrook have sold for 11.9% more than they did a year ago.

Summary: The median home sold price in Northbrook was $615,000 in November 2024, up 11.9% from last year, and the median price per square foot was $265.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $147K$168.5K
+14.6%
2 $328.7K$360.3K
+9.6%
3 $487.5K$603K
+23.7%
4 $730K$800K
+9.6%
5+ $980K$1.1M
+19.8%

Summary: Northbrook housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.6%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 23.7%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 19.8%.

Median Sold Price Compared To Nearby Cities

Northbrook
+11.9%
Deerfield
+11.5%
Glenview
+10.9%
Northfield Township
+9.9%

Housing Supply in Northbrook, IL

How many homes are available in Northbrook, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
154151-1.9%

Summary: The Northbrook real estate market had 151 homes for sale in November 2024, a 1.9% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 42
-50.0%
2 4942
-14.3%
3 4343
0.0%
4 3841
+7.9%
5+ 2023
+15.0%

Summary: The Northbrook housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 15%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4236-14.3%

Asking Price vs. Sold Price

21 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northbrook, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in Northbrook in November 2024, down by 14.3% month-over-month. Of the 36 sold homes, 58% were sold under asking, 6% were sold at asking, and 36% were sold over asking.

Days on Market for Northbrook, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
33 Days32 Days-4.5%

Summary: Homes in Northbrook had an average of 32 days on market in Nov 2024, down by 4.5% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 36 homes were sold in Northbrook; 61% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 6% 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 22 Days Ago

Newest Listings in Northbrook, IL

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