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 seller's market

Buyer's
Market

Difference Since October 2023

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

Key Takeaway

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

Housing Prices in Oak Brook, IL

How much do homes in Oak Brook, IL cost?

Median Sold Price

$850,000

$245/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$62,500(+7.9%)

Key Takeaway

Homes in Oak Brook have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in Oak Brook was $850,000 in October 2024, up 7.9% from last year, and the median price per square foot was $245.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $149.7K$160K
+6.8%
2 $475K$420K
-11.6%
3 $644K$800K
+24.2%
4 $1.0M$1.1M
+5.9%
5+ $1.3M$1.5M
+16.1%

Summary: Oak Brook housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes decreased by 11.6%, 3 bedroom homes increased by 24.2%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 16.1%.

Median Sold Price Compared To Nearby Cities

Westmont
+12.2%
Hillside
+9.6%
York Township
+8.2%
Oak Brook
+7.9%

Housing Supply in Oak Brook, IL

How many homes are available in Oak Brook, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7581+8.0%

Summary: The Oak Brook real estate market had 81 homes for sale in October 2024, a 8.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 87
-12.5%
2 2323
0.0%
3 1418
+28.6%
4 1516
+6.7%
5+ 1517
+13.3%

Summary: The Oak Brook housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 13.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1419+35.7%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 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. 89.5% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Oak Brook in October 2024, up by 35.7% month-over-month. Of the 19 sold homes, 89% were sold under asking, 0% were sold at asking, and 11% 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

Oct 2023Oct 2024CHANGE
30 Days31 Days+3.6%

Summary: Homes in Oak Brook had an average of 31 days on market in Oct 2024, up by 3.6% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

7 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 October 2024, 19 homes were sold in Oak Brook; 58% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 5% 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 16 Days Ago

Newest Listings in Oak Brook, IL

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