Is Oak Forest, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Oak Forest has remained a Seller's Market.
Housing Prices in Oak Forest, IL
How much do homes in Oak Forest, IL cost?
Median Sold Price
$264,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Oak Forest was $264,000 in April 2024, up 1.7% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $88K | $100K | +13.6% |
2 Bedrooms | $187K | $184.9K | -1.1% |
3 Bedrooms | $267K | $279K | +4.5% |
4 Bedrooms | $319.9K | $326K | +1.9% |
5+ Bedrooms | $365K | $335K | -8.2% |
Summary: Oak Forest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 8.2%.
Median Sold Price Compared To Nearby Cities
Markham | $140K | $157.8K | +12.8% |
Midlothian | $210K | $225K | +7.1% |
Bremen Township | $210K | $219.9K | +4.7% |
Oak Forest | $259.5K | $264K | +1.7% |
Country Club Hills | $195.5K | $189.9K | -2.9% |
Housing Supply in Oak Forest, IL
How many homes are available in Oak Forest, IL?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
75 | 80 | +6.7% |
Summary: The Oak Forest real estate market had 80 homes for sale in April 2024, a 6.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 5 | -16.7% |
2 Bedrooms | 14 | 14 | 0.0% |
3 Bedrooms | 35 | 42 | +20.0% |
4 Bedrooms | 17 | 15 | -11.8% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Oak Forest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 24 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Oak Forest in April 2024, the same as the previous month. Of the 24 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.
Days on Market for Oak Forest, IL
How long does it take to sell a home in Oak Forest, IL?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
22 Days | 23 Days | +4.0% |
Summary: Homes in Oak Forest had an average of 23 days on market in Apr 2024, up by 4% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 24 homes were sold in Oak Forest; 79% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.