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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northfield is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Northfield was a Seller's Market.

Key Takeaway

Northfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Northfield, IL

How much do homes in Northfield, IL cost?

Median Sold Price

$682,500

$296/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$117,500(-14.7%)

Key Takeaway

Homes in Northfield have sold for 14.7% less than they did a year ago.

Summary: The median home sold price in Northfield was $682,500 in May 2024, down 14.7% from last year, and the median price per square foot was $296.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $180K$256K
+42.2%
2 $375K$355K
-5.3%
3 $737.5K$650K
-11.9%
4 $825K$995K
+20.6%
5+ $1.8M$1.6M
-6.4%

Summary: Northfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.2%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes decreased by 6.4%.

Median Sold Price Compared To Nearby Cities

Winnetka
+12.8%
Northfield Township
+9.2%
Glencoe
+6.6%
New Trier Township
+4.8%
Northfield
-14.7%

Housing Supply in Northfield, IL

How many homes are available in Northfield, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3344+33.3%

Summary: The Northfield real estate market had 44 homes for sale in May 2024, a 33.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 25
+150.0%
3 129
-25.0%
4 79
+28.6%
5+ 1221
+75.0%

Summary: The Northfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 150%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Apr 2024May 2024CHANGE
126-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northfield, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 6 homes were sold or pending in Northfield in May 2024, down by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.

Days on Market for Northfield, IL

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

Average Sale Time

May 2023May 2024CHANGE
18 Days5 Days-69.4%

Summary: Homes in Northfield had an average of 5 days on market in May 2024, down by 69.4% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 6 homes were sold in Northfield; 100% of homes were sold within 30 days, 0% 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 3 Days Ago

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