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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northfield is a seller's market

Buyer's
Market

Difference Since December 2023

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

Key Takeaway

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

Housing Prices in Northfield, IL

How much do homes in Northfield, IL cost?

Median Sold Price

$786,500

$297/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

+$91,500(+13.2%)

Key Takeaway

Homes in Northfield have sold for 13.2% more than they did a year ago.

Summary: The median home sold price in Northfield was $786,500 in December 2024, up 13.2% from last year, and the median price per square foot was $297.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $255K$261.5K
+2.5%
2 $359K$360K
0.3%
3 $850K$633.7K
-25.4%
4 $855K$896.2K
+4.8%
5+ $1.6M$1.6M
-2.1%

Summary: Northfield housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 0.3%, 3 bedroom homes decreased by 25.4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes decreased by 2.1%.

Median Sold Price Compared To Nearby Cities

Glencoe
+24.4%
New Trier Township
+24.3%
Northfield
+13.2%
Northfield Township
+8.5%
Winnetka
+4.3%

Housing Supply in Northfield, IL

How many homes are available in Northfield, IL?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
1814-22.2%

Summary: The Northfield real estate market had 14 homes for sale in December 2024, a 22.2% decrease compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 11
0.0%
2 42
-50.0%
3 55
0.0%
4 32
-33.3%
5+ 54
-20.0%

Summary: The Northfield housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
68+33.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

0 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, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Northfield in December 2024, up by 33.3% month-over-month. Of the 8 sold homes, 88% were sold under asking, 0% were sold at asking, and 13% 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

Dec 2023Dec 2024CHANGE
33 Days28 Days-13.1%

Summary: Homes in Northfield had an average of 28 days on market in Dec 2024, down by 13.1% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 December 2024, 8 homes were sold in Northfield; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% 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 4 Days Ago

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