Is Deerfield, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Deerfield has remained a Seller's Market.
Housing Prices in Deerfield, IL
How much do homes in Deerfield, IL cost?
Median Sold Price
$548,000
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Deerfield was $548,000 in May 2024, up 4.4% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $243K | +15.7% |
2 Bedrooms | $300K | $325K | +8.3% |
3 Bedrooms | $458.5K | $445K | -2.9% |
4 Bedrooms | $631.2K | $720K | +14.1% |
5+ Bedrooms | $800K | $915K | +14.4% |
Summary: Deerfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.7%, 2 bedroom homes increased by 8.3%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 14.1%, and 5+ bedroom homes increased by 14.4%.
Median Sold Price Compared To Nearby Cities
West Deerfield Township | $670.1K | $737K | +10.0% |
Riverwoods | $735K | $799.9K | +8.8% |
Northbrook | $545.5K | $586.2K | +7.5% |
Deerfield | $525K | $548K | +4.4% |
Bannockburn | $1.0M | $1.0M | +1.4% |
Housing Supply in Deerfield, IL
How many homes are available in Deerfield, IL?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
87 | 104 | +19.5% |
Summary: The Deerfield real estate market had 104 homes for sale in May 2024, a 19.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 17 | 16 | -5.9% |
3 Bedrooms | 21 | 34 | +61.9% |
4 Bedrooms | 35 | 39 | +11.4% |
5+ Bedrooms | 14 | 14 | 0.0% |
Summary: The Deerfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 61.9%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
30 | 27 | -10.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Deerfield in May 2024, down by 10.0% month-over-month. Of the 27 sold homes, 15% were sold under asking, 15% were sold at asking, and 70% were sold over asking.
Days on Market for Deerfield, IL
How long does it take to sell a home in Deerfield, IL?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
23 Days | 25 Days | +8.3% |
Summary: Homes in Deerfield had an average of 25 days on market in May 2024, up by 8.3% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 27 homes were sold in Deerfield; 89% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.