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 March 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

$349,500

$247/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$39,600(+12.8%)

Key Takeaway

Homes in Brookfield have sold for 12.8% more than they did a year ago.

Summary: The median home sold price in Brookfield was $349,500 in March 2024, up 12.8% from last year, and the median price per square foot was $247.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $110K$301K
+173.6%
2 $269.9K$286.5K
+6.2%
3 $322.7K$338.7K
+5.0%
4 $349.5K$400K
+14.4%
5+ $476.2K$590K
+23.9%

Summary: Brookfield housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 173.6%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 14.4%, and 5+ bedroom homes increased by 23.9%.

Median Sold Price Compared To Nearby Cities

Brookfield
+12.8%
North Riverside
+9.7%
Riverside Township
+8.4%
Riverside
-1.9%
La Grange Park
-3.6%

Housing Supply in Brookfield, IL

How many homes are available in Brookfield, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2840+42.9%

Summary: The Brookfield real estate market had 40 homes for sale in March 2024, a 42.9% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 1014
+40.0%
3 1116
+45.5%
4 35
+66.7%
5+ 45
+25.0%

Summary: The Brookfield housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
10100.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 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 10 homes were sold or pending in Brookfield in March 2024, the same as the previous month. Of the 10 sold homes, 30% were sold under asking, 20% 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

Mar 2023Mar 2024CHANGE
25 Days33 Days+29.8%

Summary: Homes in Brookfield had an average of 33 days on market in Mar 2024, up by 29.8% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 March 2024, 10 homes were sold in Brookfield; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% 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

Newest Listings in Brookfield, IL

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