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 May 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

$835,000

$229/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$73,000(+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 $835,000 in May 2024, up 9.6% from last year, and the median price per square foot was $229.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $154.5K$152.4K
-1.3%
2 $525K$397.2K
-24.3%
3 $680K$663K
-2.5%
4 $935K$1.1M
+27.3%
5+ $1.1M$1.3M
+22.0%

Summary: Oak Brook housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes decreased by 24.3%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 22%.

Median Sold Price Compared To Nearby Cities

Oak Brook
+9.6%
Hillside
+5.6%
York Township
+3.6%
Westmont
-2.1%

Housing Supply in Oak Brook, IL

How many homes are available in Oak Brook, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6788+31.3%

Summary: The Oak Brook real estate market had 88 homes for sale in May 2024, a 31.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 58
+60.0%
2 1518
+20.0%
3 1316
+23.1%
4 2324
+4.3%
5+ 1122
+100.0%

Summary: The Oak Brook housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 60%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 23.1%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
819+137.5%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

8 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. 42.1% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Oak Brook in May 2024, up by 137.5% month-over-month. Of the 19 sold homes, 42% were sold under asking, 16% were sold at asking, and 42% 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

May 2023May 2024CHANGE
48 Days45 Days-6.4%

Summary: Homes in Oak Brook had an average of 45 days on market in May 2024, down by 6.4% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 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 May 2024, 19 homes were sold in Oak Brook; 68% of homes were sold within 30 days, 21% 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 1 Day Ago

Newest Listings in Oak Brook, IL

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