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 August 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

$222,791

$155/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$12,791(+6.1%)

Key Takeaway

Homes in Bremen Township have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Bremen Township was $222,791 in August 2024, up 6.1% from last year, and the median price per square foot was $155.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $78K$100K
+28.2%
2 $157K$177.7K
+13.2%
3 $225.5K$234.1K
+3.8%
4 $254.9K$263K
+3.2%
5+ $318K$292K
-8.2%

Summary: Bremen Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.2%, 2 bedroom homes increased by 13.2%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 8.2%.

Median Sold Price Compared To Nearby Cities

Markham
+17.3%
Oak Forest
+8.7%
Bremen Township
+6.1%
Midlothian
+4.7%
Country Club Hills
+2.2%

Housing Supply in Bremen Township, IL

How many homes are available in Bremen Township, IL?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
434500+15.2%

Summary: The Bremen Township real estate market had 500 homes for sale in August 2024, a 15.2% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 1216
+33.3%
2 8191
+12.3%
3 212235
+10.8%
4 106132
+24.5%
5+ 2326
+13.0%

Summary: The Bremen Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 24.5%, and 5+ bedroom homes increased by 13%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
108114+5.6%

Asking Price vs. Sold Price

43 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

49 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. 43% of homes here sold above asking price last month.

Summary: A total of 114 homes were sold or pending in Bremen Township in August 2024, up by 5.6% month-over-month. Of the 114 sold homes, 38% were sold under asking, 19% were sold at asking, and 43% 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

Aug 2023Aug 2024CHANGE
26 Days22 Days-13.7%

Summary: Homes in Bremen Township had an average of 22 days on market in Aug 2024, down by 13.7% compared to last year.

Breakdown of Home Sale Times

85 Homes Were Sold
Under 30 Days

25 Homes Were Sold
In 30 - 90 Days

4 Homes Were 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 August 2024, 114 homes were sold in Bremen Township; 75% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% 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 19 Days Ago

Newest Listings in Bremen Township, IL

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