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 November 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

$742,225

$297/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$77,225(+11.6%)

Key Takeaway

Homes in Northfield have sold for 11.6% more than they did a year ago.

Summary: The median home sold price in Northfield was $742,225 in November 2024, up 11.6% from last year, and the median price per square foot was $297.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $251K$235K
-6.4%
2 $367K$370K
+0.8%
3 $750K$627.5K
-16.3%
4 $815K$896.2K
+10.0%
5+ $1.6M$1.6M
+1.5%

Summary: Northfield housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.4%, 2 bedroom homes increased by 0.8%, 3 bedroom homes decreased by 16.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 1.5%.

Median Sold Price Compared To Nearby Cities

Glencoe
+25.4%
New Trier Township
+22.2%
Northfield
+11.6%
Northfield Township
+9.9%
Winnetka
+7.0%

Housing Supply in Northfield, IL

How many homes are available in Northfield, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2621-19.2%

Summary: The Northfield real estate market had 21 homes for sale in November 2024, a 19.2% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 21
-50.0%
2 23
+50.0%
3 66
0.0%
4 52
-60.0%
5+ 119
-18.2%

Summary: The Northfield 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 increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 60%, and 5+ bedroom homes decreased by 18.2%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
76-14.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were 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. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Northfield in November 2024, down by 14.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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

Nov 2023Nov 2024CHANGE
18 Days25 Days+41.6%

Summary: Homes in Northfield had an average of 25 days on market in Nov 2024, up by 41.6% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 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 November 2024, 6 homes were sold in Northfield; 50% of homes were sold within 30 days, 50% 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 2 Days Ago

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