Is Oak Brook, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Oak Brook is a buyer's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Oak Brook was a Seller's Market.

Key Takeaway

Oak Brook is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Oak Brook, IL cost?

Median Sold Price

$750,000

$233/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$50,000(+7.1%)

Key Takeaway

Homes in Oak Brook have sold for 7.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $587K$195K
-66.8%
2 $492.5K$524K
+6.4%
3 $661.2K$585K
-11.5%
4 $793K$810.5K
+2.2%
5+ $1.2M$1.1M
-1.3%

Median Sold Price Compared To Nearby Cities

Westmont
+8.6%
Oakbrook Terrace
+8.0%
York Township
+7.8%
Oak Brook
+7.1%
Hillside
+4.4%

How many homes are available in Oak Brook, IL?

Number of Homes For Sale

Oct 2022Nov 2022%
5859+1.7%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 10
-100.0%
2 1010
0.0%
3 1210
-16.7%
4 1518
+20.0%
5+ 2021
+5.0%

Number of Homes Sold

Oct 2022Nov 2022%
164-75.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Oak Brook, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
71 Days55 Days-23.0%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Oak Brook, IL

There are 59 homes are for sale in Oak Brook, IL real estate market. Between October 2022 and November 2022, Oak Brook, IL real estate market has seen increase in the number of listings by 1.7%. In November 2022 median list price was $750,000 and the average listing age was 55 days. Real estate listing prices changed between October 2022 and November 2022: 1 bedroom properties became 66.8% more cheaper, 2 bedrooms properties prices increased by 6.4%, prices of 3 bedrooms properties decreased by 11.5%, prices of 4 bedrooms properties increased by 2.2%, the cost of 5 bedrooms properties went down by 1.3%. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes went down by 100%, number of 2 bedrooms homes remained the same, 3 bedrooms homes became 16.7% less available, number of 4 bedrooms homes increased by 20%, 5 bedrooms homes became 5% more available. In November 2022 more than 0 listings in Oak Brook, IL were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 3 were sold below.

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