Is Brookfield, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Brookfield is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Brookfield, IL

How much do homes in Brookfield, IL cost?

Median Sold Price

$350,000

$250/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$35,000(+11.1%)

Key Takeaway

Homes in Brookfield have sold for 11.1% more than they did a year ago.

Summary: The median home sold price in Brookfield was $350,000 in May 2024, up 11.1% from last year, and the median price per square foot was $250.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $110K$230K
+109.1%
2 $269.9K$292.7K
+8.4%
3 $329K$342.5K
+4.1%
4 $356.4K$405K
+13.6%
5+ $495K$610K
+23.2%

Summary: Brookfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 109.1%, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 23.2%.

Median Sold Price Compared To Nearby Cities

Brookfield
+11.1%
Riverside Township
+9.8%
North Riverside
+8.5%
Riverside
-1.3%
La Grange Park
-1.7%

Housing Supply in Brookfield, IL

How many homes are available in Brookfield, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5260+15.4%

Summary: The Brookfield real estate market had 60 homes for sale in May 2024, a 15.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1916
-15.8%
3 1929
+52.6%
4 912
+33.3%
5+ 53
-40.0%

Summary: The Brookfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.8%, 3 bedroom homes increased by 52.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 40%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1517+13.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Brookfield, you could pay more than the asking price. 70.6% of homes here sold above asking price last month.

Summary: A total of 17 homes were sold or pending in Brookfield in May 2024, up by 13.3% month-over-month. Of the 17 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.

Days on Market for Brookfield, IL

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

Average Sale Time

May 2023May 2024CHANGE
23 Days8 Days-63.7%

Summary: Homes in Brookfield had an average of 8 days on market in May 2024, down by 63.7% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 17 homes were sold in Brookfield; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% 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 3 Days Ago

Newest Listings in Brookfield, IL

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