Is Brookfield, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Brookfield is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in Brookfield, IL

How much do homes in Brookfield, IL cost?

Median Sold Price

$356,000

$250/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$28,250(+8.6%)

Key Takeaway

Homes in Brookfield have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in Brookfield was $356,000 in August 2024, up 8.6% from last year, and the median price per square foot was $250.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $113K$137K
+21.2%
2 $275K$298.5K
+8.5%
3 $330K$357.5K
+8.3%
4 $400K$429.2K
+7.3%
5+ $512.2K$620K
+21.0%

Summary: Brookfield housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.2%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 21%.

Median Sold Price Compared To Nearby Cities

Riverside Township
+13.1%
Brookfield
+8.6%
Riverside
+3.1%
North Riverside
+1.5%
La Grange Park
-1.2%

Housing Supply in Brookfield, IL

How many homes are available in Brookfield, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
6163+3.3%

Summary: The Brookfield real estate market had 63 homes for sale in August 2024, a 3.3% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 11
0.0%
2 1114
+27.3%
3 3232
0.0%
4 98
-11.1%
5+ 88
0.0%

Summary: The Brookfield housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
2316-30.4%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Brookfield, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 16 homes were sold or pending in Brookfield in August 2024, down by 30.4% month-over-month. Of the 16 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for Brookfield, IL

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

Average Sale Time

Aug 2023Aug 2024CHANGE
29 Days20 Days-29.9%

Summary: Homes in Brookfield had an average of 20 days on market in Aug 2024, down by 29.9% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 16 homes were sold in Brookfield; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% 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 18 Days Ago

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