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Dupage Policy Journal

Friday, April 19, 2024

Oakbrook Terrace home prices rise in the second half of 2017

Realestate2

The median sale price of a home sold in the second half of 2017 in Oakbrook Terrace rose by $74,000 while total sales increased by 50%, according to BlockShopper.com.

From July through December of 2017, there were 27 homes sold, with a median sale price of $290,000 - a 34.3% increase over the $216,000 median sale price for the same period of the previous year. There were 18 homes sold in Oakbrook Terrace in the second half of 2016.

The median sales tax in Oakbrook Terrace for 2017 was $4,720. In 2016, the median sales tax was $4,482. This marks an increase of 5.3%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.6%.

The following table compares Oakbrook Terrace to other DuPage County cities with similar median sales prices in the second half of 2017:

CityJuly - Dec. 2017 Home SalesJuly - Dec. 2016 Home Sales% change (Total Home Sales)July - Dec. 2017 Median Sales PriceJuly - Dec. 2016 Median Sales Price% change (Median Sales Price)
Medinah181338.5%$325,000$375,000-13.3%
Winfield66634.8%$315,000$300,0005%
Downers Grove4944509.8%$305,000$300,0001.7%
Wheaton398465-14.4%$305,000$290,0005.2%
Darien187209-10.5%$300,000$275,0009.1%
Oakbrook Terrace271850%$290,000$216,00034.3%
Itasca6582-20.7%$285,000$258,25010.4%
Bolingbrook612-50%$276,500$254,0008.9%
Bartlett222223-0.4%$271,000$262,5003.2%
Bloomingdale189203-6.9%$270,000$240,00012.5%
Westmont174188-7.4%$267,250$224,50019%

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