Northfield Home Prices & Values

$161,200 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.3% 1-year change
  • 2.5% 1-year forecast

Market Temperature: Very ColdWhat's This?
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Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Buyers' Market Sellers' Market

The median home value in Northfield is $161,200. Northfield home values have gone up 1.3% over the past year and Zillow predicts they will rise 2.5% within the next year. The median list price per square foot in Northfield is $96, which is higher than the Akron Metro average of $86. The median price of homes currently listed in Northfield is $149,900 while the median price of homes that sold is $172,750. The median rent price in Northfield is $905, which is higher than the Akron Metro median of $775.

Foreclosures will be a factor impacting home values in the next several years. In Northfield 6.1 homes are foreclosed (per 10,000). This is lower than the Akron Metro value of 9.3 and also greater than the national value of 4.8

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Northfield is 5.3%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Northfield homeowners underwater on their mortgage is 15.3%, which is lower than Akron Metro at 20.0%.

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Relative ZHVI
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Northfield Market Overview

Data through May 31, 2014
  • $161,200 ZHVI
  • 2.5% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (May 31, 2015)
  • $149,900 Median listing price
  • $172,750 Median sale price
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Northfield Market Health

Data through May 31, 2014
  • 4.1/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average of days on Zillow
  • 15.3% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 5.3% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

6.1 homes Northfield
9.3 homes Akron Metro
4.8 homes United States
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Boston Heights $296,400 Brecksville $222,600 Valley View $190,000
Walton Hills $176,500 Macedonia $174,100 Oakwood $118,600
Bedford Heights $88,300 Bedford $72,300 Maple Heights $56,800

Listings & Sales

Data through May 31, 2014
  • $96 Median list price / sq ft
  • $99 Median sale price / sq ft
  • 30.6% Listings with price cut
27.3%
Sold below listing
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Northfield Rentals

Data through May 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,379 Northfield
$1,069 Akron Metro
$1,310 United States
  • 2.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • No recent data Rent list price
  • No recent data Rent list price / sq ft
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