Brookfield’s Housing Market saw a slight, yearly improvement in 3rd quarter, 2014

     The Brookfield housing market for single family homes ended the 3^rd quarter of 2014 slightly better than it did in 3^rd quarter of 2013.  More dollars were spent in 2014 than in the same time period last year for three bedroom homes.  Sales figures were up only 1% but accounted for appreciably fewer unit sales, 46 homes sold this year versus 53 last year.  Therefore, even though not as many homes sold during these months, those that did fetched more money for their owners. 

     On the other hand, a 1% decrease in sales dollars is the final 3^rd quarter figure for those homes with four or more bedrooms, but, again, only 7 home sales contributed to this dollar volume versus the 13 which sold last year, so, there is a silver-lining in these statistics.  These owners, too, saw increased dollars. 

     Note that the Brookfield real estate market saw much stronger increases in the 1^st and in the 2^nd quarters of 2014 versus those of 2013 than now.  However, this is to be expected since these months are the strongest for sales activity.  Overall, though, Brookfield is holding its own and has demonstrated an upswing throughout 2014 when compared to some of its neighboring villages. 

Following are the LISTING PRICES for 3 Bedrooms, Single Family Homes currently on the market in Brookfield, IL

ACTIVE 3 Bedrooms:

Contingent:                 13 homes ranging in List Price from $144,700 – $414,900                                        

Short Sales:                   2 homes ranging in List Price from $165,000 – $219,000                

Market Time:               11 – 822 Days on Market      

SOLD 3 Bedrooms in 3Q, 2014:

Foreclosures:                 9 homes ranging in Closed Price from $145,019 – $250,000

Short Sales:                   2 homes ranging in Closed Price from $189,000 – $250,000

Market Time:                 3 – 309 Days on Market      

SOLD 3 Bedrooms in 3Q, 2013:

Foreclosures:                 8 homes ranging in Closed Price from $ 74,550 – $220,500            

Short Sales:                   2 homes ranging in Closed Price from $149,900 – $170,000                       

Market Time:                 1 – 937 Days on Market      

Following are the LISTING PRICES for 4 – 4+ Bedrooms, Single Family Homes currently on the market in Brookfield, IL

ACTIVE 4 – 4 Bedrooms:

Contingent:                 8 homes ranging in List Price from      $144,900 – $459,900 

Short Sales:                 none     

Market Time:               5 – 1,601 Days on Market                 

SOLD 4 – 4 Bedrooms in 3Q, 2014:

Foreclosures:               2 homes with Closed Prices of            $136,500 & $186,000                       

Short Sales:                 1 home with Closed Price of               $186,000       

Market Time:               8 –    60 Days on Market        

SOLD 4 – 4 Bedrooms in 3Q, 2013:

Foreclosures:               1 home with Closed Price of            $255,000          

Short Sales:                 2 homes with Closed Prices of            $95,000 & $282,000 

Market Time:               5 –   357 Days on Market       

“Contingent” means that there is an accepted offer on the property as to the price, but many other things must be agreed upon before the home actually “Closes”.  These may include the results of the buyer’s home inspection, final financing approval, the specific closing date, and so forth.  Most “Contingent Homes” will proceed to closing, but some contracts fall through and the home reappears on the market as an “Active Listing”.   

 “Median Sales Price” is the midpoint between the High price and the Low price and is not the same as the “Average Sales Price”.  Since a few high prices or low prices can skew the “Average Price”, the real estate industry places more credibility on the “Median Price” to indicate a specific area’s home values within a specified timeframe.    

“Market Time” is often referred to as “Days on Market” and counts the number of days the property has been on the market.  It includes the days the current listing agent has offered the property for sale as well as the days any other real estate broker(s) may have had this same listing in the recent past.  “Market Time” differs from “Listing Market Time” in that “Listing Market Time” begins at zero days each time the property is listed for sale.  

All data is taken from Midwest Real Estate Data (MRED) which is the data aggregator and distributor providing the Chicagoland area multiple listing service (MLS) to nearly 40,000 brokers, agents, and appraisers