This paper surveys the most recent local flexibility markets (LFMs) initiatives in three Nordic countries: Finland, Norway, and Sweden. First, the significant distinctions in flexibility needs in the region are identified and analyzed. Then, considering the recently practiced LFMs in these countries, a review of their aims, description, and implementation is performed. Moreover, their key findings and future research directions are discussed. The LFM platforms evaluated in this review are EU-SysFlex, INTERRFACE, NODES, DRES2Market, CoordiNet, SthlmFlex, and InterFlex. The analyses assert that the new LFM models express a promising technical and economic vision for increasing flexibility from the costumers' and aggregators' side by delivering grid and system services for both transmission system operators (TSOs) and distribution system operators (DSOs) in a coordinated context.