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 April 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

$580,450

$248/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$40,450(+7.5%)

Key Takeaway

Homes in Northbrook have sold for 7.5% more than they did a year ago.

Summary: The median home sold price in Northbrook was $580,450 in April 2024, up 7.5% from last year, and the median price per square foot was $248.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $141.9K$161.4K
+13.8%
2 $307.5K$340K
+10.6%
3 $476K$529.8K
+11.3%
4 $732.5K$750K
+2.4%
5+ $930.9K$975K
+4.7%

Summary: Northbrook housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 4.7%.

Median Sold Price Compared To Nearby Cities

Northfield Township
+11.4%
Northbrook
+7.5%
Deerfield
+2.2%
Glenview
+0.8%

Housing Supply in Northbrook, IL

How many homes are available in Northbrook, IL?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
136189+39.0%

Summary: The Northbrook real estate market had 189 homes for sale in April 2024, a 39.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 53
-40.0%
2 4156
+36.6%
3 3151
+64.5%
4 3749
+32.4%
5+ 2230
+36.4%

Summary: The Northbrook housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes increased by 36.6%, 3 bedroom homes increased by 64.5%, 4 bedroom homes increased by 32.4%, and 5+ bedroom homes increased by 36.4%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
3238+18.8%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

8 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. 44.7% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in Northbrook in April 2024, up by 18.8% month-over-month. Of the 38 sold homes, 45% were sold under asking, 21% were sold at asking, and 34% 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

Apr 2023Apr 2024CHANGE
40 Days16 Days-59.6%

Summary: Homes in Northbrook had an average of 16 days on market in Apr 2024, down by 59.6% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 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 April 2024, 38 homes were sold in Northbrook; 84% of homes were sold within 30 days, 16% 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 13 Days Ago

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