Is Bremen Township, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bremen Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Bremen Township has remained a Seller's Market.

Key Takeaway

Bremen Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bremen Township, IL

How much do homes in Bremen Township, IL cost?

Median Sold Price

$220,174

$152/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$10,093(+4.8%)

Key Takeaway

Homes in Bremen Township have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in Bremen Township was $220,174 in May 2024, up 4.8% from last year, and the median price per square foot was $152.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $83K$83K
0.0%
2 $158.9K$169.4K
+6.6%
3 $226.9K$230K
+1.4%
4 $265.2K$254.5K
-4.0%
5+ $305K$295K
-3.3%

Summary: Bremen Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 3.3%.

Median Sold Price Compared To Nearby Cities

Markham
+16.4%
Bremen Township
+4.8%
Midlothian
+3.8%
Oak Forest
+3.3%
Country Club Hills
+0.8%

Housing Supply in Bremen Township, IL

How many homes are available in Bremen Township, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
407421+3.4%

Summary: The Bremen Township real estate market had 421 homes for sale in May 2024, a 3.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1311
-15.4%
2 6861
-10.3%
3 205222
+8.3%
4 9099
+10.0%
5+ 3128
-9.7%

Summary: The Bremen Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.4%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 9.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
130103-20.8%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

60 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bremen Township, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.

Summary: A total of 103 homes were sold or pending in Bremen Township in May 2024, down by 20.8% month-over-month. Of the 103 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.

Days on Market for Bremen Township, IL

How long does it take to sell a home in Bremen Township, IL?

Average Sale Time

May 2023May 2024CHANGE
29 Days19 Days-34.4%

Summary: Homes in Bremen Township had an average of 19 days on market in May 2024, down by 34.4% compared to last year.

Breakdown of Home Sale Times

83 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bremen Township are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 103 homes were sold in Bremen Township; 81% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 1% 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 16 Days Ago

Newest Listings in Bremen Township, IL

Nearby Markets to Bremen Township, IL

What housing markets are near Bremen Township, IL?