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 November 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

$849,500

$246/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$74,500(+9.6%)

Key Takeaway

Homes in Oak Brook have sold for 9.6% more than they did a year ago.

Summary: The median home sold price in Oak Brook was $849,500 in November 2024, up 9.6% from last year, and the median price per square foot was $246.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $152.4K$167.9K
+10.2%
2 $475K$430K
-9.5%
3 $700K$789.5K
+12.8%
4 $1.0M$1.1M
+5.6%
5+ $1.3M$1.4M
+12.9%

Summary: Oak Brook housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 12.9%.

Median Sold Price Compared To Nearby Cities

Westmont
+11.2%
Oak Brook
+9.6%
York Township
+7.6%
Hillside
+7.6%

Housing Supply in Oak Brook, IL

How many homes are available in Oak Brook, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7467-9.5%

Summary: The Oak Brook real estate market had 67 homes for sale in November 2024, a 9.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 64
-33.3%
2 2218
-18.2%
3 1613
-18.8%
4 1415
+7.1%
5+ 1617
+6.3%

Summary: The Oak Brook housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes decreased by 18.8%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 6.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1912-36.8%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 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. 66.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Oak Brook in November 2024, down by 36.8% month-over-month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% 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

Nov 2023Nov 2024CHANGE
24 Days56 Days+132.3%

Summary: Homes in Oak Brook had an average of 56 days on market in Nov 2024, up by 132.3% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were 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 November 2024, 12 homes were sold in Oak Brook; 67% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 25% 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 17 Days Ago

Newest Listings in Oak Brook, IL

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