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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northlake is a neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

Northlake is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Northlake, IL

How much do homes in Northlake, IL cost?

Median Sold Price

$280,017

$211/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$517(+0.2%)

Key Takeaway

The sold price of homes in Northlake has remained the same since last year.

Summary: The median home sold price in Northlake was $280,017 in November 2024, up 0.2% from last year, and the median price per square foot was $211.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $103K$110K
+6.8%
2 $223.9K$244.5K
+9.2%
3 $285K$302.5K
+6.1%
4 $310K$332.5K
+7.3%
5+ $375K$322K
-14.1%

Summary: Northlake housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 14.1%.

Median Sold Price Compared To Nearby Cities

Melrose Park
+6.4%
Franklin Park
+6.2%
Northlake
0.2%
Berkeley
-7.8%
Stone Park
-19.1%

Housing Supply in Northlake, IL

How many homes are available in Northlake, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2821-25.0%

Summary: The Northlake real estate market had 21 homes for sale in November 2024, a 25.0% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 64
-33.3%
2 22
0.0%
3 138
-38.5%
4 65
-16.7%
5+ 12
+100.0%

Summary: The Northlake housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 38.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
113-72.7%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northlake, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Northlake in November 2024, down by 72.7% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.

Days on Market for Northlake, IL

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

Average Sale Time

Nov 2023Nov 2024CHANGE
23 Days43 Days+82.8%

Summary: Homes in Northlake had an average of 43 days on market in Nov 2024, up by 82.8% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 3 homes were sold in Northlake; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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 20 Days Ago

Newest Listings in Northlake, IL

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