The three-bedroom homes increased 9% in median sales price from year-to-year, $214, 000 versus $196,000 in 2013. One hundred and thirty of these homes sold for prices ranging from $402,000 to a low of $85,000, a foreclosure. Of the total homes sold, 23 were foreclosures and five were short sales. This is down from a total of 34 distressed home sales in 2013.
|
In 2014, 3 Bedroom Single Family Homes, 130 Sold |
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|
|
High |
Low |
Average |
Median |
|
List Price |
$419,900 |
$86,000 |
$225,660 |
$219,900 |
|
Sold Price |
$402,000 |
$85,000 |
$217,700 |
$214,000 |
|
In 2013, 3Bedroom Single Family Homes, 137 Sold |
||||
|
|
High |
Low |
Average |
Median |
|
List Price |
$429,000 |
$74,550 |
$213,861 |
$199,900 |
|
Sold Price |
$411,000 |
$50,000 |
$206,393 |
$196,000 |
As to the larger homes, those with four or more bedrooms, 38 sold in 2014 for a median price of $267,000 which is a 27% increase over 2013’s price, $210,000. Sold prices ranged from $465,000 to $125,000, again a foreclosed home sale. In all, distressed properties accounted for eight units last year and for 10 in 2013.
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In 2014, 4 – 4+ Bedroom Single Family Homes, 38 Sold |
||||
|
|
High |
Low |
Average |
Median |
|
List Price |
$498,500 |
$114,000 |
$296,081 |
$281,950 |
|
Sold Price |
$465,000 |
$125,000 |
$283,519 |
$267,000 |
|
In 2013, 4 – 4 Bedroom Single Family Homes, 49 Sold |
||||
|
|
High |
Low |
Average |
Median |
|
List Price |
$465,000 |
$99,000 |
$247,086 |
$229,000 |
|
Sold Price |
$421,427 |
$95,000 |
$238,017 |
$210,000 |
2014 appears to mark the beginning of higher prices for homes in Brookfield in 2015 which leads to more money for sellers and not as many “deals” for buyers in the upcoming spring market.
Note: “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.
All data is taken from MRED, Midwest Real Estate Data and was formerly known as the MLS, Multiple Listing Service. It is the source of all real estate activity in our area.
Maria Murzyn is an employee of Wednesday Journal Publications and a Realtor at Gloor Realty Co. in Oak Park.
