Home Sale Prices Up in Deerfield

Home sale prices in Deerfield have increased slightly, according to a recent Chicago Magazine article. The article profiled what homes cost in several suburbs and Chicago neighborhoods. Along with Deerfield, home sale prices are also up in neighboring Highland Park and Northbrook, but down in Lake Bluff and Lake Forest. The magazine’s data shows the median sale price for a Deerfield home in 2012 was $417,000, up 1.7 percent from 2011, but that's still down 30.1 percent since 2006. There were 193 home sales last year in Deerfield, with homes staying on the market an average of 132 days, the magazine reports. Though Deerfield home sale prices are on the rise, most Chicagoland suburbs have experienced a decrease, making now a great time to buy, according to economists. Zillow Chief Economist Stan Humphries told Chicago Magazine the Chicago housing market has hit "rock bottom" and is not expected to rebound too quickly. The summer is exported to be an opportune time to buy when more houses typically go on the market, according to the article. From there, home prices are expected to increase by .8 percent by the end of the second quarter of 2013 and by five percent by the end of the second quarter in 2014, according to the article.  For those looking to downsize, Chicago Magazine highlighted nearby Woodstock as one of the best suburbs to look for a home. The article also includes housing data from 2012 and how that has changed in recent years:   Suburb Median Sales Price in 2012 Percent Change Since 2006 Percent Change Since 2011 Deerfield $417,000 -30.1 1.7 Highland Park
$470,000 -28.5 6.8 Lake Bluff
$406,000 -33.9 -5.3 Lake Forest $700,000 -28 -16.7 Northbrook $486,000 -25.8 9.2