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 neutral's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

Oak Brook is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Oak Brook, IL

How much do homes in Oak Brook, IL cost?

Median Sold Price

$830,000

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$80,000(+10.7%)

Key Takeaway

Homes in Oak Brook have sold for 10.7% more than they did a year ago.

Summary: The median home sold price in Oak Brook was $830,000 in March 2024, up 10.7% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $184.5K$150K
-18.7%
2 $502.7K$430K
-14.5%
3 $635K$770K
+21.3%
4 $894K$1.1M
+28.6%
5+ $1.1M$1.3M
+20.9%

Summary: Oak Brook housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.7%, 2 bedroom homes decreased by 14.5%, 3 bedroom homes increased by 21.3%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 20.9%.

Median Sold Price Compared To Nearby Cities

Oak Brook
+10.7%
York Township
+2.8%
Hillside
+2.1%
Westmont
+2.0%

Housing Supply in Oak Brook, IL

How many homes are available in Oak Brook, IL?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
4758+23.4%

Summary: The Oak Brook real estate market had 58 homes for sale in March 2024, a 23.4% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 43
-25.0%
2 1519
+26.7%
3 107
-30.0%
4 817
+112.5%
5+ 1012
+20.0%

Summary: The Oak Brook housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 26.7%, 3 bedroom homes decreased by 30%, 4 bedroom homes increased by 112.5%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
109-10.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 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. 66.7% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Oak Brook in March 2024, down by 10.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.

Days on Market for Oak Brook, IL

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

Average Sale Time

Mar 2023Mar 2024CHANGE
65 Days35 Days-46.0%

Summary: Homes in Oak Brook had an average of 35 days on market in Mar 2024, down by 46% compared to last year.

Breakdown of Home Sale Times

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

Summary: During March 2024, 9 homes were sold in Oak Brook; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% 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 23 Days Ago

Newest Listings in Oak Brook, IL

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